Monday, December 12, 2011

The Morning Call Monday Morning Chartology 12/12/11

The Market

Monday Morning Chartology

The S&P clearly bounced off the down trend off the October highs (a positive) as well as the 1230 support level (a positive) and continued the development of the reverse head and shoulders (a positive). Let’s see how it again tries to challenge its 200 day moving average (wiggly red line).

GLD remains within its intermediate term up trend; but it continues to develop a pennant pattern.

The VIX is once again outside the upper zone of its trading range. That is a positive; but given the roller coaster ride its been on, I don't know how long that will last.


Moody’s unhappy with EU summit, reviewing ratings (medium):

News on Stocks in Our Portfolios


This Week’s Data


Our financial system is still overleveraged (short):



Charles Krauthammer on Obama’s campaign strategy (medium):

International War Against Radical Islam

Iran practicing closing the Straits of Hormuz (short):