3/24 Morningline

Treasury long-term bonds (TLT) gapped down at the open by 1.2%.

News reports pinned the move on disappointment over the 2-year bond auction held Tuesday.

Some said the gap was due to concern over the amount of debt the Feds would have to issue (surely not fact that bond traders only discovered today!).

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
SPY $117.21
TLT $89.01

At 10:14 a.m. Eastern

But, as Master Yoda would have said had he been a private trader, "Ask not. Do or do not. There is no ask." As traders, we care nothing for motivation, only for consequences.

Blue chip stocks (SPY) opened steady within yesterday's range. The dollar rose sharply against both the euro and the yen (EUR/USD, USD/JPY). SPY late yesterday picked up a psar bull signal which has persisted into today's trading. Falling bond prices mean that there is an expectation of higher interest rates. It  must be noted that TLT is trading at levels seen on March 12, so this is not a breakdown of historic import. Indeed, TLT has been running sideways since mid-January in a range from about $89 to $92. A 1% fall, however sudden, is not the Apocalypse.

What would it be like to open your accounts and never have any ugly surprises. Financial strategist Pamela Yellen tells how to get your money on the good news track.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
JNK $39.50
GLD $107.01
USO $39.00
EEM $41.31
EUR/USD $1.3371
USD/JPY ¥91.73

At 10:21 a.m. Eastern

Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: green for up, red for down, yellow for sideways
• adx: green for above 30-up, red for 20-down, yellow for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.

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