2/10 Watchlist

The price of Treasury long-term bonds (TLT) is down 1.2%, high to now, and has reached a near-term support level ranging from $90.50 to about $89. The macd is giving a bear signal, as is Person's Proprietary Signal. Falling bond prices means traders expect higher interest rates ahead, and the Federal Reserve has been looking at how to exit from the current very low interest environment.

Corporate high-yield debt (JNK) is also down considerably. It is in part influenced by the federal interest rates, but also by expectations of corporate default. Traders may well judge that higher rates would stop the present recovery in its tracks, so JNK would suffer on two counts.

The other indicators I watch are trading in the ranges set yesterday.

To the scans! Here's what's interesting in high-volume . . .

2/3 Watchlist

Despite the apocalyptic headlines on some market stories ("U.S. Stocks Falter"), the distance between the open and close in blue chip stocks (SPY) today is at this point measured in a few cents. Not much on a stock trading for 109.84.

It's not yet the end of the world. But remember, 2012 (a level hit by the Dow 23 years ago) may be just behind the corner.

So relax! Don't worry!! Be happy!!!