Tuesday, December 1, 2009

12/1 Morningline

Welcome December, a month that historically is among the most bullish of the year. For 2009, we shall see.

  • bb/mfi analysis:
  • GLD has moved back above 117 to a new all-time high, with the mfi still pointing down. Watching closely.
  • pps/mfi analysis:
  • KO has moved up to slightly above my iron triangle's high-end profit point (at expiration) of 57.5
  • UNG has declined to below 9 again and remains profitable by a healthy margin.
Indicators (pps/mfi):
  • Bear mode: VIX (fear index, bullish for stocks),
  • Bull mode: SPY (blue chips), GLD (gold), TLT (Treasury long bonds)
Currencies (pps/rsi):
  • EUR/USD bull mode
  • USD/JPY bull mode (although the price has dropped 3 points since the pps signal was given). Watch this pair, as the rsi has fallen into oversold territory and is reversing, a bullish sign.

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