Monday Morning Chartology--8/26/13

The Morning Call

8/26/13

The Market

           

    Technical

      Monday Morning Chartology

The S&P remains within all major uptrends.  It fell below its 50 day moving average last Wednesday but recovered on Friday---a positive for stocks.  Unfortunately, the DJIA has not done quite so well---it has fallen into a trading range and remains below its 50 day moving average.

           

            The GLD chart is improving as a very short term uptrend extends itself.  If it retreats to that uptrend line and holds, the temptation will be to Buy.

            While the long bond rallied on Friday, it is still within both a short and intermediate term downtrend.

            The VIX has been directionless since early 2013.  It remains well within its short term trading range and it intermediate term downtrend.

           

            Update on ‘the best stock market indicator ever’:

            http://advisorperspectives.com/dshort/guest/Carlucci-Short-Update.php

    Fundamental

    

       News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

            July durable goods orders fell 7.3% versus expectations of a decline of 4.0%.

   Other

Politics

  Domestic

Another jim dandy appointment by Obama (medium):

http://www.zerohedge.com/news/2013-08-25/obama-picks-cass-sunstein-america%E2%80%99s-joseph-goebbles-serve-nsa-oversight-panel

  International

            China demographic problem (medium and very interesting):

            http://www.zerohedge.com/node/477976

            Greece needs another E10 billion (medium):

            http://www.reuters.com/article/2013/08/20/greece-bailout-idUSA8N0AR00X20130820

                Italy’s problems not over (medium):

            http://www.zerohedge.com/news/2013-08-26/italy-stocks-slide-government-crisis-deepens

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 Investing For Survival is to help other investors build wealth and benefit from the investing lessons he learned the hard way.