The Morning Call
9/22/14
The Market
Technical
Monday Morning Chartology
No
sign of trouble here. The S&P stays
well within uptrends across all timeframes.
The
long Treasury broke down from its short term uptrend; then bounced strongly
enough to mark a new lower boundary of a re-set short term trading range. It is also in an intermediate term trading
range and is below its 50 day moving average.
GLD’s
chart is as ugly as the S&P is beautiful.
Here is an interesting theory on why gold is acting as poorly as it is
(short):
The
VIX remains of no help in assessing the Market.
Stock
Trader’s Almanac looks at the current week (short):
Fundamental
***overnight,
(1) Japan announced that it intended to go ahead with the second step of
raising its consumption tax [which re-begs the question, what are these guys
thinking about?], the Bank of China stated there would be no more monetary
easing [remember, they lie a lot], (3) the ECB said it may not do anymore
easing, given that its first try was a bust, and (4) the global leading
economic indicator just did a triple back flip with a two and one half twists
in the pike position.
Update
on valuation:
Investing for Survival
Enduring
lessons from the financial crisis (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
The
August Chicago National Activity Index came in at -.21 versus expectations of
+.35.
Other
Update
on household net worth (short):
Politics
Domestic
More government
incompetence (medium):
International War Against Radical Islam
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