Monday, June 17, 2013

Monday Morning Chartology

The Morning Call

6/17/13

The Market
           
    Technical

      Monday Morning Chartology

            The S&P closed right on the lower boundary of its short term uptrend.  While it appears to have escaped from the very short term downtrend, it can’t generate any momentum to the upside.  Amid confusion and volatility, the best thing to do is nothing.



            GLD is still holding above its double bottom and the lower boundary of its long term uptrend.  Like the S&P, it seems to have successfully challenged the very short term downtrend but can sustain no upward momentum.



            The VIX continues to battle with the upper boundary of its short term downtrend but can’t hold on to any break.  However, if it does successfully push through that boundary, it would be a bad sign for stocks.



            Update on ‘the best stock market indicator ever’:

    Fundamental

            The latest from David Rosenberg (medium):

            The latest from Bill Gross (medium):

            Revenue and earnings expectations continue to decline (medium):

            Update on the big four economic indicators:

     Investing for Survival

            What a crisis feels like (medium):

      News on Stocks in Our Portfolios
 
Economics

   This Week’s Data

            The NY Fed June manufacturing index came in at a surprising 7.84 versus expectations of 0.5.

   Other

Politics

  Domestic

A potentially damaging disclosure in the NSA phone/email monitoring scandal (medium):

  International

            Spain’s debt hits new high (medium):

            The Syrian conflict ramps up another notch (medium):











Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at

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