Monday Morning Chartology

Aug. 12, 2019 9:05 AM ETFDS
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Value, Growth At A Reasonable Price, Dividend Investing

Contributor Since 2010

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 46 years of investment experience includes institutional portfolio management at Scudder. Stevens and Clark and Bear Stearns, managing a risk arbitrage hedge fund and an investment banking boutique specializing in funding second stage private companies. Through his involvement with Investing for Survival and Seeking Alpha, Steve hopes that his experience can help other investors build their wealth while avoiding tough lessons that he learned the hard way.

The Morning Call


The Market


My charting service has changed its format. It is obvious in the way the charts are presented. This new system is having its problems that are sure to be ironed out. One of them is that their logarithm scales don’t work on long time horizons. So at the moment, I can’t plot some intermediate and long term trends including those of the Averages. The good news is that neither are even remotely close to those trend lines. In the meantime, bear with me.

It was a busy week for the S&P: (1) it voided its very short term uptrend but quickly regained the lower boundary. If it remains there for a couple more days, I will re-instate that trend, (2) it also reset its 100 DMA from support to resistance and one day later traded back above that MA. I also have this change on hold, and (3) it closed Monday’s gap down opens.

Stocks "Are One Shoe-Drop Away" From Realizing Bonds Are Right

The long bond is smoking. It is above both MA’s and in uptrends across all timeframes. The only technical negative is a short term one---last Monday’s gap up open that needs to be closed.

The dollar remains strong. It is in short and long term uptrends and above both MA’s. Plus, it needs to close Monday’s gap down open. However, after it took out the upper boundary of its long term trading range, it traded back below that level and has remained there. That is a bit worrisome.

Gold continues to soar. It remains in very short term and short term uptrends and above both MA’s.

In its latest spike, the VIX made a higher low and a higher high in addition to resetting both MA’s to support. That suggests a lot more caution that is not being reflected in stock prices.



Risk happens fast.

Real Investment Report

QE returning to a market near you.

JPMorgan: The Fed Will Need To Restart QE Soon

If you don’t want to be depressed, don’t read this. The latest from David Rosenberg.

David Rosenberg: "These Are Truly Historic And Dangerous Times"

News on Stocks in Our Portfolios

FactSet Research Systems (NYSE:FDS) declares $0.72/share quarterly dividend, in line with previous.


This Week’s Data



June Chinese vehicle sales fell 4.3% versus estimates of -8.0%.

July Chinese outstanding loan growth equaled 12.6% versus forecasts of 12.7%.


Shipping fuel prices declining.

Bunker Chaos: Global Shipping-Fuel Price Plunges Amid Slowdown Fears

Farm loan delinquencies and bankruptcies increasing.

Farmageddon: Farm Loan Delinquencies And Bankruptcies Soar, Incomes Plunge

Protests in Hong Kong gather more steam.

Hong Kong On The Edge: Chinese Troops Gather In Shenzen; 100s Of Flights Cancelled Over Protester "Terrorism"

The future of the EU (must read):

Germany Stalls And Europe Craters

What I am reading today

Quote of the day.

Quotation of the Day...

Visit Investing for Survival’s website (Home | Investing for Survival | to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.

Disclosure: I am/we are long FDS.

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