Monday, December 3, 2012

The Morning Call---Monday Morning Chartology



The Morning Call

12/3/12

The Market
           
    Technical

      Monday Morning Chartology

            Friday, the S&P confirmed the break of its short term downtrend and is now in the process of re-setting to a trading range.  The lower boundary is marked by 1343; the upper boundary is tentatively in the zone of the 50 day moving average (1419) and the 1424 former support now resistance level.  It remains within its intermediate term uptrend.



            GLD has broken down below its 50 day moving average as well as a very short term uptrend.  Close in support exists at roughly 164.  Further support is provided by the lower boundaries of its short term uptrend and its intermediate term trading range.  If GLD penetrates the 164 support level, our Portfolios will Sell the remainder of their trading positions.
           



            The VIX rose but remains below the 50 day moving average and the upper boundary of its short term downtrend and above the lower boundary of its intermediate term trading range.




            Update on ‘the best stock market indicator ever’:


    Fundamental
           
            More analysis of the Greek bail out ‘deal’ (medium):

     Investing for Survival

            A discussion of physical versus paper gold (medium):
   
            The latest from Jeff Gundlach (medium):

      News on Stocks in Our Portfolios
 
Economics

   This Week’s Data

   Other

            Up date on US energy economics (medium):

            Goldman’s ten top themes for 2013 (medium):

Politics

  Domestic

  International War Against Radical Islam

            Our delusions about Egyptian president Morsi (medium):






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