Monday Morning Chartology-7/26/10
Steve Cook on Disciplined Investing

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The Market

     Monday Morning Chartology

    S&P has successfully challenged the down trend off the April high and closed Friday above the most recent high.  So notice the higher low and now a higher high.


    Gold is hanging in there right on support.  If stocks run, we could get weakness in gold.  If so, as I said previously, our Portfolios will Sell at least a portion of their positions to protect profits.


    VIX remains above support.


    It is 8:15am and the futures are looking up a bit.  I mention it because I wanted to see how investors digested the EU ‘stress test’ over the week end and their mood Monday morning.  Despite my skepticism, the Market seems fine with ‘test’.


   This Week’s Data


    More on the euro and the EU sovereign debt problem (medium):

    M&A activity is increasing (short):

    The June Chicago Fed index of business activity declined (short):

Posted 07-26-2010 8:23 AM by Steve Cook