The Morning Call
10/22/18
The
Market
Technical
Investors
appear to be uncertain about whether they want to take the S&P up or
down. On Friday, they tried to begin
another challenge of its 200 DMA but couldn’t.
On the other hand, they have been unable to trade above its 100 DMA and the
upper boundary of a very short term downtrend.
How long this period of indecision will last is unknowable. Wait for follow through.
The
long bond continues to trade negatively, closing below both moving averages and
in short term and very short term trading ranges---pointing to a continuing
rise in rates.
The
dollar was off five cents on Friday. The
chart is positive but UUP again failed to attempt a challenge of its August
high which is a bit of a negative.
While
GLD reset its short term trend from down to a trading range, it apparently took
all the resources the buyers had because they can’t even push GLD through its
100 day moving average.
The
VIX chart is generally upbeat (not good for stocks). It remains above both moving averages and in
a short term uptrend.
Fundamental
Headlines
News on Stocks in Our Portfolios
Kimberly-Clark
(NYSE:KMB): Q3 Non-GAAP EPS of $1.71 beats by $0.08; GAAP EPS of $1.29 misses by $0.25.
Revenue of $4.58B (-1.9%
Y/Y) beats by $60M.
“DAZ has extensive
experience implementing Oracle Cloud solutions, which complements Accenture’s
established credentials across the Oracle Cloud portfolio,” said Bhaskar Ghosh,
group chief executive, Accenture Technology Services. “Organizations demand
proven expertise, as well as new innovative solutions and methods to help them
transform their businesses. DAZ will help us continue to deliver the very best
thinking and capabilities to our clients.”
DAZ’s more than 300
professionals will join Accenture’s Oracle Business Group.
Economics
This Week’s Data
US
The
September Chicago national activity index came in at .17 versus expectations of
.18; The August reading was revised up from .18 to .27.
International
Other
The
latest from Italy.
What
I am reading today
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