Monday, July 30, 2012

The Morning Call-Monday Morning Chartology 7/30/12


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.