- All things corporate take a dive.
- Bear signals on the S&P 500, Nasdaq 100, high-yield corporate debt, euro and emerging markets (SPY, QQQQ, JNK, EUR/USD, EEM).
- Oil down but no new signal.
- Bull signal on the fear index (bullish on fear, how scary is that) (VIX).
- 20- and 30-year Treasury bonds price up, yield down (TLT)
- Yen continues rise (USD/JPY).
Stocks and Rates
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| SPY | ||||||||
| QQQQ | ||||||||
| VIX | ||||||||
| TLT | ||||||||
| JNK |
Stocks fell yesterday when the Fed announced its tepid response to a slowing of the recovery, and quickly rose again. But it seems that after a troubled night filled with evil dreams, traders concluded that the situation is actually worse than it seemed at first blush.
And that, I think explains today's unrelenting negativism toward everything except safe havens like Treasury bonds and gold (plus the ever resilient Japanese yen)
Happy days? Here again? Not a chance.
Below, oil and gold, and global indicators.
Oil and Gold
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| USO | ||||||||
| GLD |
Global
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| EUR/USD | ||||||||
| USD/JPY | ||||||||
| EEM |
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we reemerge from the wreckage.
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.
No comments:
Post a Comment