4/19 Morningline: Indicators

High-yield corporate debt (JNK) -- a measure of confidence that companies can pay back their borrowings -- remains in bull phase on the parabolic sar, although it briefly in morning trading showed a bear signal on Person's Proprietary Signal.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
JNK $36.95
GLD $111.32
USO $39.94
EEM $42.35
EUR/USD $1.3469
USD/JPY ¥92.24

At 10:22 a.m. Eastern

JNK is trading at a level it saw on April 13 and in late March.

The minerals are down, both gold (GLD) and oil (USO), with psar bear phase markers to nail home the point.

These commodities are complex in their behavior, but one element is their role in measuring confidence in the dollar.

---

Technical Analysis Explained : The Successful Investor's Guide to Spotting Investment Trends and Turning Points

Technical analyst Martin Pring reveals the secrets of the craft. No trader should be without this book.

---

Gold is a traditional hedge against inflation. If traders think the dollar's value won't be inflated away, they're less likely to put their money in gold. Oil the world over is denominated in dollars.

If the dollar's value is expected to fall (inflation), then the price of oil rises to reflect that fact.

The two major forex currency pairs are mixed: The dollar is up against the euro (EUR/USD) but down (yet rising) against the yen (USD/JPY).

Emerging markets (EEM) are also trading lower compared to Friday.

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

Exchange-Traded Fund Symbols:
EEM - emerging markets
EUR/USD - euro/dollar currency pair
GLD - gold
JNK - high-yield corporate bonds
SPY - blue-chip stocks
TLT - Treasury long-term bonds
USD/JPY - dollar/yen currency pair
USO - crude oil
VIX - fear index

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.

New to Private Trader? Check out the Reader's Guide.

New to private trading? Here's a look at How to Become a Private Trader.