The Morning Call
9/29/14
The Market
Technical
Monday Morning Chartology
The
S&P had a volatile week. After a selloff
in which it fell below its 50 day moving average and neared the lower boundary
of its short term uptrend, it bounced nicely on Friday. However, as you can see, for the rebound to
be anything but a one day phenomena, it must dismantle the very short term
downtrend that has been in effect since mid-September.
The
long Treasury has had a nice bounce, marking the lower boundary of its re-set
short term trading range; and it closed Friday above its 50 day moving
average. Still it has a ways to go
before re-setting to an uptrend.
GLD
continues to track within very short term, short term and intermediate term downtrends
and below its 50 day moving average. It
is nearing the lower boundary of its long term trading range which it will
almost surely challenge. Whether it is
successful or not is another question.
The
VIX continues to provide little guidance on Market direction. It has started to build a very short term
uptrend; but that is not going to mean a lot unless it can successfully
challenge its short term downtrend.
Fundamental
The
latest from Lance Roberts (medium):
16th
annual Geneva Report (medium):
Investing for Survival
Is
there a point to hedging? (medium)
News on Stocks in Our Portfolios
Economics
This Week’s Data
August
personal income was reported up 0.3%, in line; personal spending was up 0.5%,
also in line; the core PCE index (inflation) was up 0.1% versus expectations of
0.0%.
Other
Politics
Domestic
Public employee
pension funds face $2 trillion funding shortfall (short):
http://www.zerohedge.com/news/2014-09-26/public-pension-funds-face-2-trillion-shortfall-moodys-warns
International War Against Radical Islam
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