8/24 Morningline

• S&P 500, Nasdaq 100 down sharply after Realtors report a 27.2% drop in existing home sales (SPY, QQQQ).
• Home sales at a 15-year low.
• Treasury long-term bonds gap sharply upward (TLT).
• High-yield corporate debt shows bear phase on Person's Proprietary Signal (pps) (JNK).
• Gold negates fast stochastic bear signal, back in bull phase (GLD).
• Euro, trading against the dollar, shows fast stochastic bull phase (EUR/USD).
• Dollar, trading against the yen, turns bearish across the board (USD/JPY).
• Emerging markets negates bull signal on the fast stochast (EEM).

Stocks and Rates

	trend	adx	psar	pps	macd	macd trend	sto	sto zone
SPY
QQQQ
VIX
TLT
JNK

A government program giving tax breaks to homebuyers expired April 30. The 27.2% decline was nearly double economists' expectations.

SPY is trading 1.4% below Friday's close, and QQQQ is down 1.7%. TLT is up 1.4% from Friday.
Below, oil and gold, and global indicators.


Oil and Gold

	trend	adx	psar	pps	macd	macd trend	sto	sto zone
USO
GLD

Global

	trend	adx	psar	pps	macd	macd trend	sto	sto zone
EUR/USD
USD/JPY
EEM

Indicator Exchange-Traded Fund Symbols:
EEM - emerging markets
EUR/USD - euro/dollar currency pair
GLD - gold
JNK - high-yield corporate bonds
QQQQ - Nasdaq 100 index
SPY - S&P 500 index
TLT - Treasury long-term bonds
USD/JPY - dollar/yen currency pair
USO - crude oil
VIX - fear index


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
• 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.