5/19 Morningline

Blue-chip stocks opened below Tuesday's range but then moved up. Treasury long-term bonds opened at the top of the range and moved nowhere.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
SPY $112.73
VIX 33.13
TLT $96.01

At 9:53 a.m. Eastern

Gold was down 1.5% from Tuesday's close, and the euro was up 0.8% against the dollar, the two big movers at the opening.

Overnight saw declines in the euro in Europe, and the pre-market showed inflation well under control.

So the question today is whether the markets will give their heart to the euro crisis, whose main impact is on financial speculators and exporters to Europe, or to the American economy's low-inflation recovery, which affects everyone?

Care to bet? Not I.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
JNK $38.19
GLD $117.48
USO $33.37
EEM $39.09
EUR/USD $1.2310
USD/JPY ¥91.72

At 9:57 a.m. Eastern

Indicator 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

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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

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.

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