The Morning Call
6/13/16
The
Market
Technical
The
question is, which is the head fake? The
S&P break above the upper boundary of the recent short term trading range
or Friday’s waterfall formation? We will
know soon enough.
The
long Treasury finished above the upper boundary of its intermediate term
trading range for the second day; if it remains there through the close on
Tuesday, it will reset to an uptrend. That
suggests a weak economy and no rate hike.
GLD
is clearly acting better but still has much work to do to get back into an
uptrend. This better performance
indicates that GLD investors are betting on a poor economic outlook and no rate
hike.
The
VIX did a moonshot on Friday after having bounced off the lower boundary of its
short term trading range for the fifth time earlier in the week. It is about to challenge its 100 day moving
average; if it closes above this MA for three days, it will revert from
resistance to support. Not a good sign
for stocks.
Fundamental
2000
again? (medium):
***overnight,
May Chinese industrial production was in line while fixed investment and retail
sales were below expectations; Fitch lowered the Japanese government credit
outlook (not the rating but the outlook for the rating) from stable to
negative.
Investing for Survival
Thoughts
on the risk free rate of return (medium):
News on Stocks in Our Portfolios
Economics
This Week’s Data
Other
The
productivity puzzle isn’t puzzling at all (medium):
Economic
confidence tumbles to two year low (short):
Politics
Domestic
More Hillary
email mischief (medium):
The wussification
of America (medium):
International War Against Radical
Islam
Saudi’s
extort UN (short):
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
No comments:
Post a Comment