Monday Morning Chartology

The Morning Call

11/4/13

The Market

           

    Technical

      Monday Morning Chartology

   

            The S&P continues up in all its major trends.

            The long Treasury was down 1%+ on Friday.  It is still within its short term trading range and intermediate term downtrend; but it is getting close to negating the developing reverse head and shoulders pattern.

            GLD remains in a very short term uptrend.  However, it is also in  short term and intermediate downtrends; plus it is developing a head and shoulders pattern, which if completed would be a negative.

            VIX remains in a year long plus trading range, giving us no help on Market direction.

            Update on ‘the best stock market indicator ever’:

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

    Fundamental

    

            More QEInfinity and why it ultimately will fail (medium):

            http://www.zerohedge.com/news/2013-11-03/buying-time-brought-forward-world-and-why-there-no-plan-b     

  News on Stocks in Our Portfolios

·                                 CME Group beats by $0.02, misses on revenues

o                                                        CME Group (CME): Q3 EPS of $0.75 beats by $0.02.

o                                                        Revenue of $715M misses by $8.43M.

|7:02 AM|

·          

• Chevron misses by $0.14, misses on revenues
• Chevron (CVX): Q3 EPS of $2.57 misses by $0.14.
• Revenue of $58.5B misses by $0.83B.
•  

 

Economics

   This Week’s Data

   Other

Politics

  Domestic

US spending on infrastructure (medium):

http://www.nakedcapitalism.com/2013/11/us-infrastructure-spending-plunges.html

More bad news on Obamacare (short):

http://www.zerohedge.com/news/2013-11-01/top-us-hospitals-are-opting-out-obamacare

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