The Morning Call
4/21/14
The Market
Technical
Monday Morning Chartology
The
S&P bounced off the lower boundary of its short term uptrend and back above
its 50 day moving average this week. It
remains within uptrends across all time frames.
The very short term technical question for this week is, will the
S&P manage to not make a third lower high?
A close above 1873 would avoid that.
107
days without a new all time high. What
does that mean? (short):
The
long Treasury had a good week until Friday in which it suffered some severe
whackage. However, it remained well
within its short term uptrend and above its 50 day moving average. It is also in an intermediate term downtrend.
GLD
remains a sick puppy. It closed inside short
and intermediate term downtrends, below its 50 day moving average and this week
was only able to make a lower very short term high.
The
VIX continues to trade in that year long plus trading range, though it is
nearing the lower boundary of that range.
It is also in an intermediate term downtrend and below its 50 day moving
average.
Update
on sentiment (short):
Update
on ‘the best stock market indicator ever’:
Fundamental
News on Stocks in Our Portfolios
o
Kimberly-Clark (KMB):
Q1 EPS of $1.48 beats by $0.01.
o
Revenue of $5.27B (-0.9% Y/Y) misses
by $50M.
Economics
This Week’s Data
The
March Chicago Fed National Activity Index came in at .20, in line with
expectations.
Other
12
valuable economic lessons (short):
Politics
Domestic
Must read essay
from George Will on liberty versus democracy (medium):
International
Latest
from Ukraine:
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