The Chapman Report
- Stock market rally continues but it is getting tired. DJI is the last major index to regain break even for the year.
- Bonds rebound off of major support zone as treasury auctions were better than expected. Grant you it came at the expense of falling demand for corporate bond issues.
- “Green shoots” abound? Hardly. And if they are they are pretty stunted.
- TARP money repaid. Looks good but then the banks were bailed out through the back door (GM).
- Gold falters even as the US$ was down on the week. Short term correction continues and we could yes see a test below $900 before this is finished. But once this is done we should begin the most spectacular rise as a break through $1000 will set off a major move.
- Oil prices approaching targets of $75 to maybe $85. Look to switch to gassy stocks as natural gas appears poised for a breakout.
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These are 3 separate reports (more details here) (at least 44-46 per year): a fundamental and technical perspective on what’s happened during the week and what’s shaping up for the coming one. The Technical Commentary, Technical Scoop & Chappy's Stock Picks.
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