The Market
Technical
Monday Morning Chartology
It appears that the S&P has blown out the 1364 interim resistance level, though I won’t be convinced until the Market close today. Meanwhile, the S&P is moving into the upper zone of its short term trading range (1422-1266).
GLD is on the verge of breaking the string of lower highs.
The VIX continues to trade in a range, ending above the lower boundary of its intermediate term trading range and the neckline of the developing head and shoulders pattern.
A history of P/E’s through a complete Market cycle (short):
http://www.zerohedge.com/news/how-much-more-does-bear-market-have-go
Update on ‘the best stock market indicator ever’ (medium):
http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php
Fundamental
Update on this quarter’s earnings and revenue ‘beat’ rate (short):
http://www.bespokeinvest.com/thinkbig/2012/7/27/earnings-and-revenue-beat-rates-as-earnings-season-has-progr.html
Numerous top bankers want big banks broken up (medium):
http://www.nakedcapitalism.com/2012/07/george-washington-numerous-top-bankers-call-for-break-up-of-giant-banks.html
An updated look at this quarter’s earnings season (short):
http://www.zerohedge.com/news/biggest-eps-miss-lehman-and-time-its-not-tsunamis-fault
Economics
This Week’s Data
The latest M2 data (medium):
http://www.zerohedge.com/news/10-trillion-m2-now-rearview-mirror
GDP per capita (medium):
http://advisorperspectives.com/dshort/updates/Real-GDP-Per-Capita.php
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.
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