The euro, said to be the culprit in the whole panic event, was showing bull phase on Person's Proprietary Signal in trading against the U.S. dollar. The pps does have a tendency to give disappearing ghost signals from time to time, it is true. However, bull phase brings it into line with the parabolic sar, which moved to bull phase on Thursday.
Just as Robert Frost wrote that good fences make good neighbors, it can be said that a happy euro makes good markets. It's a testable hypotheses, and we shall soon see.
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| JNK $36.78 | ||||||||
| GLD $115.43 | ||||||||
| USO $32.34 | ||||||||
| EEM $36.77 | ||||||||
| EUR/USD $1.2559 | ||||||||
| USD/JPY ¥89.78 |
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
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
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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