Monday Morning Chartology--7/8/13

The Morning Call

7/8/13

The Market

           

    Technical

       Monday Morning Chartology

            After a week long struggle, the S&P cracked its 50 moving average (wiggly red line) to the upside, though on little volume, marginal breadth but enormous volatility.  Still a break is a break.  Let’s see if it can hold it and develop some follow through.  Speaking of which, it is nearing the upper boundary of the May 22 sell off.  If it breaks that, then the S&P will negate that downtrend.  However, until it penetrates the May 22 high, it will remain a trading range.

            Sick, sick, sick.

            On Friday, the VIX broke through a very short term uptrend as well as its 50 moving average and is approaching the lower boundary of a short term uptrend.  A break of that trend will support a move higher in stocks.

            Update on ‘the best stock market indicator ever’:

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

            Update on sentiment (short):

            http://www.bespokeinvest.com/thinkbig/2013/7/5/largest-weekly-increase-in-bullish-sentiment-since-march.html

         Fundamental

    

            The latest from Kyle Bass (medium):

            http://www.zerohedge.com/news/2013-07-04/kyle-bass-hunkers-down-we-dramatically-reduce-portfolio-risk

            Global earnings revisions not looking good (short):

            http://www.zerohedge.com/news/2013-07-07/tale-two-growth-outlooks

            Nor are they in the US (short):

            http://www.zerohedge.com/news/2013-07-07/because-fundamentals-matter

     Investing for Survival

            Important factors in dividend investing (medium):

            http://advisorperspectives.com/commentaries/forward_062513.php

           News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

Politics

  Domestic

Quote of the day:

http://cafehayek.com/2013/07/quotation-of-the-day-683.html

  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