The Morning Call
6/1/15
The
Market
Technical
Monday Morning Chartology
The
S&P continues to struggle to remain above its former all-time high. This is the level to watch for an indication
that it will challenge the upper boundary of its long term uptrend. The positive news is that it has established
a very short term trend of higher lows.
The
long Treasury remains below its 100 day moving average and within a short term
downtrend. Even though it closed up on
Friday, notice it touched a minor resistance level (horizontal purple line) and
backed off.
GLD
remains in its own trendless world.
While
the VIX rose on Friday as you might expect, it was not nearly as pronounced as
I would have expected given the stock action---a plus for stocks.
Fundamental
Goldman
on Greece (medium):
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