1/13 Watchlist: Junk bears; Showdown at the Baidu gap

Corporate junk bonds (JNK) are showing a pps bear flag; the macd and stochastic remain in bull territory.

Otherwise, little movement in the indicators, currencies or holdings.

Here's who's going where among the indicators since this morning: Blue chips up, volatility (fear) down, Treasury long bonds down, gold up, oil down.

And here's what's interesting among the high-volume . . .

. . . exchange-traded funds:

• XLU, utilities, shows a pps bull flag amid a congestion zone that has been in place since early December. It's trading at 31.09. I wouldn't be interested unless it breaks above 32.
• XLP, consumer staples, trading at 26.97 has pushed past very near term resistance the day after a pps bull signal. I'd be interested it it bumps out of the current congestion by topping 27.30.

. . . corporate shares:

• ORCL shows a pps bull signal amid congestion but a longer-term uptrend. I'd be interested above (not Cleopatra) 25.25, a resistance level set last spring.
• X, which I mentioned the other day as a nice example of an uptrending stock, has stalled a bit the last three days. Interesting above 66.45.
• Not a trade, but BIDU, China's Google, gapped up by 14.6% this morning on news that the global Google, GOOG, was on the verge of pulling out of China over free speech issues. I mean, Baidu already dominates the China market for searches. Is it really going to mean that much of an increase in value? Maybe it's a mindless reaction to news? Just saying . . .
  

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Topics S&P 500, SPDR, Spiders, Treasury bonds, high-yield corporate junk bonds, gold, precious metals, oil, petroleum, utilities, consumer staples, Oracle, U.S. Steel, Baidu, Google.