Monday Morning Chartology

The Morning Call

4/8/13

The Market

           

    Technical

            Monday Morning Chartology

            You have to give the bulls credit.  They could have folded Friday but held instead.  The trend in all major time frames are up.  The only problem is that the S&P has been unable to challenge its all time high.

            GLD bounced hard on Friday, recovering above that developing support level.  That said, the short term trend is clearly down.  This chart is still too broken to warrant any action.

            The short and intermediate term trends in the VIX remain down.  There is nothing to suggest any change in trend---a positive for stocks.

            Update on ‘the best stock market indicator ever’ (medium):

            http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php

           

    Fundamental

    

            Is history repeating itself (short):

            http://blog.stocktradersalmanac.com/post/Lather-Rinse-Repeat--Another-Disappointing-Economic-Report

            Over the weekend in euroland:

            Portugal:

            http://www.zerohedge.com/news/2013-04-07/european-commission-threatens-portugal-get-your-constitutional-court-line

            Greece:

            http://www.zerohedge.com/news/2013-04-07/30000-greek-households-lose-electricity-each-month

                The latest from Kyle Bass (medium):

            http://www.zerohedge.com/news/2013-04-07/kyle-bass-japanese-retirees-will-lose-half-their-life-savings

            More on bitcoin (medium):

            http://www.zerohedge.com/news/2013-04-07/rethinking-money-bitcoin-quadrupling-cyprus

            News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

            More on the growth of auto and student loans (short):

            http://www.zerohedge.com/news/2013-04-05/97-february-consumer-credit-student-and-car-loans

            Ed Yardini on Friday’s payroll number (short):

            http://blog.yardeni.com/2013/04/us-employment-excerpt.html

Politics

  Domestic

  International War Against Radical Islam

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at