The Morning Call
The Market
Technical
Monday Morning Chartology
The
S&P is nearing the upper boundary of its short term trading range. A break above this level (1687) would re-set
the short term trend to an uptrend.
Since the index would then be at an all time high, the only resistance
would be that of the upper boundaries of its new short term uptrend (1750), its
intermediate (2109) and long term uptrends (1800). If that occurs and using the 1750/1800 range
as upside potential, that amounts to between 3-6%. On the other hand, if 1687 holds, the S&P
may be developing a double, if not triple, top.
Even
though GLD moved up last week, it is still technically a very broken chart.
The
VIX broke through the lower boundary of a very short term uptrend. If it finishes below it today, the trend will
be negated---which would be a plus for stocks.
Update
on ‘the best stock market indicator ever’
Fundamental
Investing for Survival
Delusional
assumptions: the problem for pensions and pensioners (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
June
retail sales rose 0.4% versus expectations of +0.8%; ex autos, they were down
0.1% versus estimates of +0.3%.
The
New York Fed manufacturing index came in at 9.47 versus forecasts of 5.00.
Other
JP
Morgan slashes in half its forecast for second half US GDP
economic growth rate (short):
Quote
of the day (short):
Politics
Domestic
More on bank
fraud (medium and today’s must read):
Top political
donors 1989-2013---and no, the banks don’t top the list (short):
International
Troubled
times for China
(medium):
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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