The Morning Call
10/6/14
The Market
Technical
Monday Morning Chartology
Friday’s
rally brought the S&P right back to the lower boundary of its short term
uptrend on the final day of the time element of our time and distance
discipline. Because of its proximity, I am
extending that time element by at least a day.
If the S&P is off today, then the short term trend will re-set to a
trading range. If it is up, it will
remain in an uptrend.
The
long Treasury is still holding the very short term uptrend. As you can see, it is nearing the upper
boundary of its short term trading range.
One of these two boundaries in going to give and soon. It remains well above its 50 day moving
average.
GLD
traded right down to and closed on the lower boundary of its long term trading
range. The obvious question is whether
this boundary will hold. Given GLD’s
sick behavior, the temptation would be to assume that this boundary will fall
like all the rest. But you never
know. This is a wait and see situation.
The
VIX couldn’t successfully penetrate the upper boundary of its short term downtrend. It does remain in a very short term uptrend
and above its 50 day moving average; and it continues to be of little help in
assessing Market direction.
Fundamental
Analysts
slashing guidance ahead of third quarter earnings season (short):
Investing for Survival
The
volatility of risk premiums and what that means to the investor (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
Other
Goldman
believes that Japan is about to acknowledge recession (short):
EU
prepared to reject France’s 2015 budget (medium):
Politics
Domestic
International War Against Radical Islam
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