Friday, November 19, 2010

11/19 Morningline

  • Treasury long-term bonds to bull phase on Person's Proprietary Signal (pps), but it ghosts away; on-balance volume shows beginnings of an uptrend (TLT).
  • See a discussion of ghosting and other TLT signals, below.
  • Method change: In this text at the top I'll note only major phase switches, on the pps, parabolic sar and macd.

Stocks and Rates
ppspsarmacd obvh-a trend ma20ma50ma200

It's not unusual for Person's Proprietary Signal (pps) to give a signal early in the day that later (often quickly) disappears. That's what has happened this morning with a bull signal on TLT.

If the signal reappears and is in place at the end of the trading day, then I consider the signal to be tradeable, since there is on-balance volume confirmation.

TLT is clearing trying to reverse: The Heikin-Ashi candlestick chart shows three one-day reversals in a row, today being the third. It takes two consecutive candles pointing in the same direction to constitute a trend, so the TLT downtrend is not yet reversed on this indicator.

Also, the macd has been rising and is a bear 0.04 below the zero line, also suggesting that TLT is poised for a bull phase switch.

Oil and Gold
ppspsarmacd obvh-a trend ma20ma50ma200

ppspsarmacd obvh-a trend ma20ma50ma200

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

  • h-a trend - Heikin-Ashi trend.
  • obv - On-Balance Volume.
  • pps - Person's Proprietary Signal.
  • psar - Parabolic Stop and Reverse
  • ma20 - 20-day moving average
  • ma50 - 50-day moving average
  • ma200 - 200-day moving average
  • macd - Moving Average Convergence-Divergence

About the glance: The colors indicate the state of each signal.
  • Signal Section:
    • pps, psar, macd: green for bull mode, red for bear.
  • Confirmation Section:
    • obv: green for uptrending, red for downtrending.
    • h-a trend: green for uptrending, red for downtrending.
  • Environment Section:
    • ma20, ma50, ma200: green for above the average, red for below the average.

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