The Morning Call- Monday Morning Chartology + How jobs get created

The Market
Technical

Monday Morning Chartology

Given Friday’s giddy Market, I marked the resistance at levels above 1372.





Update on the three peaks and a domed house formation:
http://blog.stocktradersalmanac.com/post/New-Highs-But-3-Peaks-Top-Looms

And:
http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php

GLD got whacked on Friday, but remains above the lower boundary of its short term up trend.




http://www.marketwatch.com/story/golds-rally-will-soon-come-to-an-end-2012-02-03

The VIX stays in a pronounced down trend.



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This is a great article on how jobs get created (hint: not by the government). (medium and today’s must read):
http://online.wsj.com/article/SB10001424052970204740904577197044156250870.html

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.