August 23, 2013

S&P 500 Analysis after closing bell

  • Daily chart trying to stay above 100 Day SMA.
  • Week is trying to turn up from 20 Week SMA.
  • Weekly up trend line trying to support the fall. Weekly closing tomorrow will be crucial. Closing above the weekly support levels may extend this bounce.

1 comment:

  1. The chart of the S&P 500, $SPX, shows a 0.4% rise for the week ending Friday August 23, 2013. This presents the short selling opportunity of a lifetime, with short selling potentials being the 30 ETFs, seen in this Finviz Screener ... ... Those rising this week included, TAN, 7.3 ... IBB, 2.8 ... FPX, 2.4 ... PBS, 2.1 ... XTN, 2.0 ... PJP, 1.7 ... EIRL, 1.6 ... PSCI, 1.5 ... RZV, 1.4 ... IGV 1.3 ... PPA 1.2 ... BJK, 1.1 ... FXR, 1.0. The logic of short selling is that in a bear market one sells into pips, just as in a bull market one buys into dips.

    Better yet, to be invested in and take possession of gold bullion as Jesus Christ acting in dispensation, Ephesians 1:10, is completing Liberalism with a rally in the EUR/JPY, taking Eurozone Stocks, EZU, and EU Debt, EU, to their peak.

    And He is introducing Authoritarianism. With first, The Economist reporting capital controls in India. On August 14th the central bank clamped down on Indians’ ability to take money out of the country in two ways. The limit on personal remittances has been cut to $75,000 per year, from $200,000 per year; and companies are now barred from spending more than their own book value on direct investments abroad, unless they have specific approval from the central bank. And second, a credit bust in Emerning Market Bonds, EMB, a currency rout, in Emerging Market Currencies, a stock market crash in the Emerging Markets, EEM, and a collapse of Emerging Market Financials, EMFN, centering on those countries with current account deficits, who used Liberalism credit scheme of Dollarization to underwrite corporate and sovereign debt, especially Current Account Deficit Seven, that is Current Account Deficit, CAD, seven, Brazil, EWZ, India, INP, Chile, ECH, Philippines, EPHE, Thailand, THD, Indonesia, IDX, and Turkey, TUR.

    In the age of Authoritarianism, the only two forms of sustainable wealth, will be diktat, and the physical possession of Gold; the chart of the Gold ETF, GLD, shows a 1.6% rise today Friday, August 23, 2013 constituting a continuing breakout, as is seen in Jack Chan’s Safehaven article This past week in gold.