Monday, June 25, 2012
The Morning Call + Monday Morning Chartology + Why US banks aren't ready for an EU crisis
Monday Morning Chartology
Last week, the S&P was unable to sustain the follow through of the completion of that reverse head and shoulders formation, By closing below its short term uptrend and the former ‘neckline’ (1338) of the aforementioned reverse h&s, that neckline now becomes resistance. Note on Friday, it challenged the ‘neckline’ and failed. Support exists at the former ‘shoulder line’ (1292), the former ‘head’ (1266) and the lower boundary of its intermediate term uptrend (1243).
Gold broke its short term uptrend last week, leaving it near the lower boundary of a very wide intermediate term trading range.
Gold as a store of value (10 minute video):
The VIX toyed with the lower boundary of its short term uptrend all week, challenging it early in the week, failing to confirm it, then challenging it again on Friday. A confirmed break would be a positive for stocks.
The presidential cycle (short):
The last five days of June (short):
The latest from Charles Biderman (7 minute video):
Why US banks aren’t ready for an EU crisis (medium and today’s must read):
More of your tax dollars at work (short):
The rationale for executive privilege (medium):
Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.