- Friday's bear signals on the S&P 500, Nasdaq 100, high-yield corporate debt, emerging markets evaporate; still in bull phase. (SPY, QQQQ, JNK, EEM)
Stocks and Rates
This is the biggest mass evaporation of a signal that I've ever seen from Person's Proprietary Signal (pps). What does it mean? Very little. The market was down when the signals came into play, and then it recovered intraday.
As a trader, I've got to say that the tendency of the pps to produce ephemeral signals is frustrating. Note to John Person's: Must fix this. Otherwise, it's a pretty good market tool, in my experience.
Below, oil and gold, and global indicators.
Oil and Gold
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we reemerge from the wreckage.
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
- 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.
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