Monday, July 22, 2013

Monday Morning Chartology--7/22/13

The Morning Call

7/22/13

The Market
           
    Technical

      Monday Morning Chartology

            The S&P closed above the upper boundary of its short term trading range for the second day.  The time element of our time and distance discipline expires today at the close.  If that occurs, the short term trend will re-set to an uptrend, marked by the two upward sloping black lines.


            GLD.  No change.  Prognosis not good.




            The VIX was down big on Friday and is approaching the lower boundary of its short term trading range.



            Update on ‘the best stock market indicator ever’
            http://advisorperspectives.com/dshort/guest/Carlucci-Short-Update.php

      
    Fundamental
    
      News on Stocks in Our Portfolios
 
Kimberly-Clark (KMB): Q2 EPS of $1.41 beats by $0.02. Revenue of $5.26B misses by $0.08B.

Rockwell Collins (COL): FQ3 EPS of $1.2 beats by $0.05. Revenue of $1.17B misses by $0.01B

Economics

   This Week’s Data

            The May Chicago National Activity Index was reported at -.13 versus expectations of +.03.

   Other

            Quote of the day (short):

            UBS settles mortgage fraud litigation for $900 million.

Politics

  Domestic

More government incompetence (short):

  International

            Japanese Prime Minister Shinzo Abe’s victory in upper-house election gives him a freer hand to execute economic reforms.










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

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