Monday Morning Chartology

The Morning Call

3/27/17

The Market

         

    Technical

            Notice that each of these charts reflect short term breaks in trends.  Certainly, more is needed, directionally speaking, to alter the long term trends.  The good news scenario is that the index in question is consolidating and preparing for a continuation of the major trend.  The bad news scenario is that ‘times, they are a’changin’.

            The S&P negated its very short term uptrend last week.  The good news is that it failed to follow through to the downside; the bad news is that there is little support before the lower boundary of its short term uptrend.

            The long Treasury rested last week following the prior week’s rally.  It ended above the lower boundary of its short term trading range and above its 100 day moving average (now support).  But it was also below its 200 day moving average and it a very short term downtrend. 

            Gold continued its rally, finishing above its 100 day moving average but below its 200 day moving average and in a short term downtrend.

            The dollar closed below its 100 day moving average but above its 200 day moving average, right on a minor support level and in a short term uptrend.  It needs to hold that support level to keep its upside momentum.

            The VIX rallied hard last week, bouncing decidedly off the lower boundary of its very short term uptrend and closing above its 100 day moving average.  On the other hand, it finished below its 200 day moving average and is in a short term downtrend.  So a mixed performance; but clearly the Market’s complacency has been disturbed.

    Fundamental

       Headlines

       Investing for Survival

   

            Myths in investing #8.

            http://www.pragcap.com/the-biggest-myths-in-investing-part-8-more-information-will-give-me-an-immediate-advantage/

    News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

            More on the unfunded pension liability problem (medium):

            https://www.bloomberg.com/view/articles/2017-03-24/pension-crisis-too-big-for-markets-to-ignore

            And:

            http://www.zerohedge.com/news/2017-03-25/your-pension-could-be-center-americas-next-financial-crisis

Politics

  Domestic

  International War Against Radical Islam

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