The Morning Call
I am back for a week, then take
off next Wednesday for Labor Day.
The Market
Technical
Monday Morning Chartology
The
S&P is clearly in a correction though it remains well within the boundaries
of its short term uptrend. On the
negative side, it did struggle with the 1687 level and ultimately failed to
hold it. Also note the head and
shoulders top. It is a relatively small
formation so does not suggest a major downturn.
GLD
had a good week. It broke through the
upper boundary of a very short term trading range and re-set to an
uptrend. For the moment, the chart has
improved; but it is going to take a bit more work before I feel comfortable
re-establishing a position.
The
VIX continues to trade somewhat erratically and provides on information on
Market direction.
I
thought that a look at the not very encouraging long Treasury chart would be
helpful. I think that this suggests that
the bond market thinks that tapering is imminent.
Update
on ‘the best stock market indicator ever’:
Fundamental
The
cure for the toll inflation is about to take on retirement accounts (medium):
The
latest from Lance Roberts (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
Other
Politics
Domestic
International
Overnight,
Japanese exports surged as a result of the weak yen; and Spain ’s
bank bad loan ratio hit a record high.
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