Looking for an upper boundary to the trading range
Steve Cook on Disciplined Investing


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   This Week’s Data

    March retail sales declined 1.1% from February versus expectations of a .2% decrease; ex autos, sales were off .8% versus forecasts that they would be unchanged.

    The March producer price index (PPI) fell 1.2% versus estimates of a drop of .1%; core PPI, came in unchanged versus an anticipated .1% increase.


    The inflationary implications of Bernanke’s policy:



More stupid government policy:

  International War Against Radical Islam

The Market

    Percentage of stocks above their 50day moving average:

    A look at current short interest:


    The indices (DJIA 8057, S&P 856) closed above the DJIA 7949, S&P 834 resistance level in search of the upper boundary of a new trading range.  The next most easily identifiable potential resistance level is DJIA 8401, S&P 876.  Minor support exists at DJIA 7437, S&P 740 with the March lows (DJIA 6432, S&P 666) representing major support.

    Goldman Sachs reported earnings last night.  Some thoughts on how they were earned:



Posted 04-14-2009 8:27 AM by Steve Cook
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