Monday, January 23, 2012

The Morning Call--Monday Morning Chartology 1/23/12



The Market

Technical

Monday Morning Chartology


You can’t argue with the strength displayed by the S&P in this chart.




Short term, GLD is clearly acting better. It does, however, have resistance at the 50 day moving average (the red wiggly line) and the down trend off the September 2011 highs.






The VIX continues to drop like stone. You can see substantial support at the circa 15 level.




A sign of complacency? (short):
http://blogs.wsj.com/marketbeat/2012/01/20/heres-one-sign-investors-are-too-complacent/

The number of stocks above their 200 day moving average:
http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php

Politics

Domestic


Obama’s staff and the 1% (medium):
http://www.nationalreview.com/articles/288630/why-do-obama-officials-get-rich-rich-lowry

International War Against Radical Islam

Another small step in the demise of the dollar (medium):
http://www.zerohedge.com/news/india-joins-asian-dollar-exclusion-zone-will-transact-iran-rupees



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 Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.