7/14 Morningline

• S&P 500, Nasdaq 100: fast stochastic trend turns sideways.
• S&P 500 volatility: macd trend turns up.
• Treasury long bonds: fast stochastic trend turns up.
• Corporate high-yield debt: macd, fast stochastic trends turn down.
• Crude oil: fast stochastic turns down.
• Gold: fast stochastic turns down, but with a shallow slope.
• Euro/dollar: fast stochastic turns down.
• Dollar/yen: fast stochastic turns down.
• Emerging markets: price trend turns sideways, macd and fast stochastic trends turn down
  

Stocks and Rates

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
SPY $109.14
QQQQ $45.39
VIX 25.03
TLT $98.92
JNK $38.78

Below, oil and gold, and global indicators.
Oil and Gold

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
USO $34.47
GLD $118.05

Global

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
EUR/USD $1.2704
USD/JPY ¥88.29
EEM $39.79

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OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we reemerge from the wreckage.

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Indicator Exchange-Traded Fund Symbols: EEM - emerging markets EUR/USD - euro/dollar currency pair GLD - gold JNK - high-yield corporate bonds QQQQ - Nasdaq 100 index SPY - S&P 500 index TLT - Treasury long-term bonds USD/JPY - dollar/yen currency pair USO - crude oil VIX - fear index 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
• sto - Fast Stochastic

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

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple 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.