The Morning Call
5/12/14
The Market
Technical
Monday Morning Chartology
The
S&P bounced around for most of the week.
It remains in uptrends in across all timeframes; however, it continues
to build a head and shoulders formation.
Stocks in general are riddled with divergences too numerous to detail---and
yet the beat goes on.
The
long Treasury took a rest last week, though it remains in its short term
uptrend, above its 50 day moving average and within its intermediate term downtrend. The question, of course, is this really just
a rest and, hence, is the bond market still trying to tell us something or is it
the beginning of a readjustment back to more normal levels. I will take my key from the lower boundary of
the short term uptrend.
GLD
remains an ugly duckling. It is in short
and intermediate term downtrends and below its 50 day moving average.
The
VIX is nearing the lower boundary of its short term trading range, is below its
50 day moving average and is within an intermediate term downtrend. If it breaks through the lower boundary of
its short term trading range, it would be a positive sign for stocks.
Update
on ‘the best stock market indicator ever’:
Weekend
update from Chris Kimble (short):
Fundamental
***overnight,
the March Japanese trade surplus plunged (not supposed to happen in period of
dramatic monetary easing), Chinese officials indicated more market reforms were
on the way and an ECB official implied that more was needed to help the EU
economy than just lower interest rates (Japanese QE lite?)
Latest
from Ukraine:
News on Stocks in Our Portfolios
Economics
This Week’s Data
Other
US
tax rates versus other developed countries (short):
Politics
Domestic
International War Against Radical Islam
No comments:
Post a Comment