The Morning Call
2/2/15
The Market
Technical
Monday Morning Chartology
The
S&P (1994) remains within uptrends across all timeframes, though it is
nearing its mid-December low (1970) and its 200 day moving average (red line) circa
1974
How
do Treasury bonds go parabolic? This is
either an omen of ill to come or we are apt to get a painful snapback soon.
GLD
went through a consolidation---notice how it bounced off its 50 day moving
average. Hopefully, this round is
over. Our Portfolios will Add to their
GLD position at the open this morning.
You
can see the increased Market volatility in the VIX performance. It is once again nearing the upper boundary
of its short term trading range. In fact
the lower boundary of its intermediate term downtrend now intersects the upper
boundary of the short term trading range directly above the VIX Friday
close. So an additional move up could
take out both trends.
Fundamental
Greece
shows the limits of austerity (medium):
Economic
activity and the Market in one chart (short):
***overnight,
Chinese manufacturing PMI was negative for first time in two and a half years,
EU manufacturing PMI was positive and the Greek PM said that a debt deal was
imminent.
Investing for Survival
Doing
nothing is something (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
December
personal income rose 0.3%, in line; personal spending fell 0.3% versus
expectations of -0.2%; the PCE deflator was -0.2% versus estimates of -0.3%.
Other
Politics
Domestic
Obama is
clueless about the cause of income inequality (medium):
International
Israel,
more alone than ever (short):
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