Monday Morning Chartology-11/1/10
Steve Cook on Disciplined Investing

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The Market
    
    Technical

     Monday Morning Chartology

    Nothing has really changed since last week.  You can see the short term up trend, the intermediate term trading range and the blue line at the top of the chart is the upper boundary of the long term up trend.





    Gold tested the lower boundary of its short term up trend last week and bounced hard.




 


    The VIX rallied last week and closed right on the upper boundary of its current down trend.




 

   Fundamental
      
    Update on earnings ‘beat’ rate (chart):
    http://www.bespokeinvest.com/thinkbig/2010/10/29/earnings-beat-rate-steadily-declines-this-week.html

    News on Stocks in Our Portfolios

    More third quarter earnings reports:

                                     Reported         Expected

Quality Systems              $.46            $.49
Federated Investors         .42              .38
Micorsoft                            ,62              .55
CME Group                      3.66            3.66
3M                                     1.53            1.51       
ExxonMobil                       1.44            1.39
Chevron                            1.85            2.15

 
Economics

   This Week’s Data

    September personal income fell 0.1% versus expectations of a 0.2% increase; September personal spending rose 0.2% versus estimates of plus 0.4%.
    http://www.calculatedriskblog.com/2010/11/personal-income-declines-01-spending.html

   Other

    M2 velocity and fourth quarter GDP (medium):
    http://scottgrannis.blogspot.com/2010/10/m2-velocity-suggests-stronger-q4-gdp.html











Posted 11-01-2010 8:27 AM by Steve Cook