The Morning Call
4/8/19
The
Market
Technical
The
only thing wrong with this chart is that gap up open last Monday. Still it looks like a green light to its all-time
high (2942).
The
long bond maintains its strength, with the only negative being the necessity to
close the gap up open three Friday’s ago.
The
dollar continues on a roll, above both MA’s, in a short term uptrend and, at
Friday’s close, pennies above its prior high, I would like to see a more
decisive move; if it happens, it will establish a very short term uptrend.
On
Thursday, GLD bounced off its 100 DMA and its double bottom (now a triple
bottom). That is good news. Adding to that is the need for it to close the
gap down open last Thursday. The bad
news is that it continues to develop a head and shoulders formation.
On
Friday, the VIX fell 5 ½ %, ending back below the double bottom, voiding the
developing inverse head and shoulders pattern and remaining within a very short
term downtrend. A big plus for equity prices.
Fundamental
Headlines
The
latest on the US/China trade talks.
News on Stocks in Our Portfolios
Economics
This Week’s Data
US
International
March
Japanese consumer confidence was reported at 40.5 versus estimates of 42.3.
February
German exports fell 1.3% versus consensus of -0.5%; imports were of 1.6% versus
-0.7%.
Other
What
I am reading today
Mysterious drug
resistant germ quietly sweeping globe.
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