The Morning Call
1/8/18
The
Market
Technical
My
usual short and sweet comment---nothing needs to be said about this chart.
TLT
traded back below the lower boundary of a very short term uptrend on Friday,
but remained above both moving averages and the lower boundaries of its short
term trading range and long term uptrend.
The recent pin action may be indicative that bond investors are becoming
uncertain about the strength of the economy/higher inflation---though at the
moment, nothing serious.
The
dollar’s chart is starting to remind me of GLD’s several months ago; which is
to say lousy. Apparently, there are few
buyers based on a strong economy, higher rates or a safety trade.
GLD
continues to do well on a very short term basis, trading above both moving
averages and in a very short term uptrend.
Longer term, it is in trading ranges across all timeframes.
The
VIX appears to have gone comatose as stock soar. While it is below its 100 and 200 day moving
averages and in a short term downtrend, it has held above the lower boundary of
its long term trading range and really went nowhere in the midst of last week
ramp up.
What
I am reading today
Is
the QE party over? (medium):
December
update on dividends
The
end of the Iranian protests (medium)
Doug
Kass’s 15 predictions for 2018---Part three.
Global debt reaches $233 trillion
(medium):
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