Monday, April 6, 2015

Monday Morning Chartology

The Morning Call


The Market

        Monday Morning Chartology

            The S&P remains well within uptrends across all timeframes.  It did close Thursday below the lower boundary of a very short term uptrend but above its 100 day moving average.  Under our time and distance discipline, the very short term uptrend would normally be negated; however, given that the S&P proximity to the trend line plus the fact that it bounced off its 100 day moving average, I am going to hold off negating this uptrend.  The 100 day moving average continues to present meaningful support.

            The long Treasury remains within a short term trading range, intermediate and long term uptrends and above its 50 day moving average.  Note that the latest high (Wednesday) could not get above the prior high.  That could be a sign of lost momentum.  We need to watch for the point of its next low for more directional information.

            GLD chart continues to be unimpressive.  It remains within short and intermediate term trading ranges, a long term downtrend and below its 50 day moving average.  Much more work needs to be done for this chart to improve.

            The VIX remains within that developing pennant formation as well as a short term trading range, an intermediate downtrend, a long term trading range and above its 50 day moving average.

            ***overnight, Japan ‘revises’ 2014 wage data and shows no (zero, nada) wage growth (how is that QE working, Mr. Abe?)

      Investing for Survival

            Another great argument for our Buy/Sell Discipline (medium):

      News on Stocks in Our Portfolios

   This Week’s Data


            The latest economic update from Goldman---no rate hikes (medium):

            The ECB’s contribution to the currency war (medium and a must read):

            Problems in the High Yield debt market (medium):




            NATO versus Russia (medium):

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