If SPY begins to treat that level as an upturn reversal point, as it was about 10 minutes into trading, then conditions will be in place for a run up to the next reversal level, $121.91.
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| SPY $117.44 | ||||||||
| TLT $89.14 |
The long-term Treasury bonds (TLT) lay morosely at the bottom of yesterday's range of sharp decline, like a Raggedy Ann doll tossed carelessly in the closet by an child now older and moving on to other toys.
The morning saw slight upside spins to high-yield corporate debt (JNK), gold (GLD), oil (USO) and the dollar as measured against the euro and the yen (EUR/USD, USD/JPY). Like wobbly tops, they threatened from time to time to fall. SPY broke above the DeMark pivot point to a high of $117.73 before pulling back. A break above the DeMark range is considered to be a bullish sign. Today's DeMark pivots are $115.29/$117.14. | 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 $39.59 | ||||||||
| GLD $106.67 | ||||||||
| USO $39.26 | ||||||||
| EEM $41.22 | ||||||||
| EUR/USD $1.3323 | ||||||||
| USD/JPY ¥92.50 |
My holdings:
- MGM, an April iron condor (p9/-p10/-c12/c13), is trading at $12.68, above the max profit point at expiry of $12. The price has touched and reversed off of $12.80 three days running.
- XLE, an April iron condor (p55/-p56/-c59/c60), at $56.91 is in the max profit range. The stock shows bear signals, and a move below $56 would start cutting into profits at expiry.
- MCO, an April covered call (-c29), is trading a $30.50. I set up this position so it will make money, when combined with prior covered calls and dividends, no matter where the stock trades. If it closes below $29, I keep the shares as a basis for future covered calls. (Warren Buffet holds a nice chunk of MCO, according to the annual report that I got in the mail yesterday. If it's good enough for Warren, it's good enough for me.)
- PALM, shares in a zombie position, at $3.91. The price has barely moved since the company released disappointing forecasts on March 18, like a zebra lying injured on the hot, dusty Serengeti plain watching the vultures gather overhead.
- NLY, a dividend play, at $17.96. It goes ex-div on March 30.
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.
New to private trading? Here's a look at How to Become a Private Trader.
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