The Morning Call
6/16/14
The Market
Technical
Monday Morning Chartology
Last
week’s Iraqi related sell off did nothing to alter the strong long term technical
picture of the S&P. There may be
more short term weakness; but all systems are ‘go’ for an assault on the upper
boundary of its long term uptrend and possibly the 1700 mark.
The
long Treasury challenged the lower boundary of its short term uptrend, then
managed to close back above it on the last day of the time element of our time
and distance discipline. That leaves the
uptrend in tact; but it also keeps the question open as to what the bonds guys
are discounting that doesn’t jive with the stock jockeys.
GLD
is trying to break that short term downtrend.
For the moment though, I am just watching.
The
VIX continues to indicate an upward bias to stocks.
The
stock market performance before and after the June ‘triple witching’ (short):
Update
on ‘the best stock market indicator ever’:
Fundamental
Report
says central banks now have $29 trillion invested in the global equities
markets (short and today’s must read):
Are
we now ‘all in’? (short):
News on Stocks in Our Portfolios
Medtronic
is buying Covidien:
Economics
This Week’s Data
The
June New York Fed manufacturing index came in at 19.28 versus expectations of
15.0 and 19.01 reported in May.
Other
El
Nino is coming; here is what to expect (short):
More
on the metal re-hypothecation problem in China (medium):
Politics
Domestic
Monday morning
humor from Seinfeld (2 minute video):
More on student
loans (medium):
International
The
latest from Iraq (medium):
The latest from Ukraine (short):
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