The Morning Call
3/23/15
The Market
Technical
Monday Morning Chartology
The
S&P is back sniffing the upper boundary of its long term uptrend. The last two times that it has done this, it
managed to spend a brief time above that boundary but could not hold there. My opinion is that it will do the same this
time around; the operative words being ‘my opinion’.
The
long Treasury stabilized last week, ending within a short term trading range
(note it challenged the lower boundary but couldn’t confirm the break), intermediate
and long term uptrends, above its 50 day moving average and a developing very
short term uptrend.
GLD
had a good day on Friday. That
notwithstanding, it remains within a very short term downtrend, short and
intermediate term trading ranges, a long term downtrend and below its 50 day
moving average.
The
VIX declined 7% on Friday, as would be expected on a strong up day. It remained within a very short term downtrend,
short term trading range, an intermediate term downtrend, a long term trading
range and below its 50 day moving average.
For traders, current price levels off a cheap way to buy portfolio
insurance.
Fundamental
A
preview of what is happening today in the Greece/Troika standoff (medium):
The
latest supply/demand data on oil (short):
Investing for Survival
The
biggest investing mistake (short):
News on Stocks in Our Portfolios
Economics
This Week’s Data
The
February Chicago National Activity Index was reported at -.11 versus expectations
of +.15.
Other
Politics
Domestic
Not only is the
administration disregarding the congress role in the government but is also
ignoring the judiciary (short):
Income
inequality and the government’s role (medium):
International War Against Radical Islam
CIA
declassifies document that supposedly justified the Iraq invasion (medium):
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