Drifting along in a light wind

Closing Prices

US Stocks
DJIA 12080.38 +76.02 S/P 500 1278.36 +6.86
NYSE Comp 8032.22 +32.11 NASDAQ 2629.66 +13.18
S/P Midcap 940.45 +7.70 Russell 2000 788.48 +6.73
DJT 5201.22 +42.67 DJU 429.17 +2.38
US bonds and interest rates
US Gov rates: 6 mo .0938%  2 yr .3826% 10 yr 2.95 30 yr 4.19
IEF(US10 yr) 97.30 -.15 TLT (USLT) 96.90 uc
MUB (NatlMuni) 103.58 +.03 CalMuni (NCA)8.82 -.04
HYG (High Yield) 89.52 +.67 PFF(Preferred) 39.15 +.04
BND (Total Bond Mkt) 81.77 -.06
Commodities
Commodities Indexes (DBC) 29.07 -.16  (USCI ) 64.84 -.15
Gold 1542 +2.90 Silver 36.07 +.33  Copper 4.07 -.03
Platinum 1730 -28.00 Nickel (JJN) 31.49 -.10
Oil 93.26 +.25 RBOB 2.91 -.03 Nat Gas 4.31 -.01
Grains (JJG)51.01 +.08 Livestock (COW) 30.16 +.40
Cotton (BAL) 76.87 +.11 Agg complex(JJA)60.70 -.02
US Dollar Index and World Currencies
Aussie 1.0590 -.0047 Euro 1.4292 +.0038 Pound 1.6090 +.0022
Yen 1.2289 -.0039 Can$ 1.0146 -.02 USD Index 75.19
World Debt markets
BWX(Intl Treas) 61.82 +.01 PCY(EmerMkt) 26.91 +.01
IBND(Intl Corp) 34.71 +.01

All Markets Current Trends

World debt markets
US Bonds: 4-15 current trend up

US Natl Muni Markets: : 2-18 current trend up weakening
Intl Treas Bonds 5-27 current trend down
Intl Corp Bonds 5-27 current trend neutral weakening
Emerging Markets Debt: ..3-24 current trend weakening
US High Yield 6-1 current trend down (freefalling)
US Preferred Stocks 6-13 current trend down

Commodities
Commodity index (Broad based) 5-5 current trend down
Gold: .2-18.  current trend up
Silver: 6-3 current trend down
Copper 6-1 current trend down
Platinum 5-27 current trend down
Palladium 5-27  current trend neutral
Nickel  5-6 current trend down
Grain complex 6-6 current trend down 
Sugar 2-23 currevt trend up
Cotton `4-25 current trend down
Livestock 4-25 current trend down
Coffee 5-11 current trend down
Lumber  3-29 current trend down
Agg complex 5-2 current trend down
Oil :5-6. current trend down
Gasoline 5-16 current trend down
Natural Gas 5-27 current trend down

World Stock markets
US Stocks: 6-1 current trend down
Europe 6-6 current trend up
China: 6-3 current trend down
Brazil 5-4 current trend down
Japan 5-13 current trend down
India 3-29 current trend down
Russia 5-4 current trend down
Emerging Markets: .6-6 current trend down
Total world markets 6-3 current trend down

Currencies markets

US Dollar Index 6-6 current trend neutral
Aussie Dollar 6-10 current trend neutral
Euro 6-6  current trend down
Brit Pd 6-6 current trend down

Jap Yen 4-26  current trend up 
Canadian Dollar 5-13 current trend down
Mexican Peso 6-6 current trend down
Brazilian Real 5-27 current trend neutral

Indian Rupe 5-16 current trend neutral

Trend changes:
Currencies US Dollar to neutral
World stock markets:  
Commodities:
World Debt markets:

US Stock Market Trends
Mikey Short term down 6-1  
Mikey Intermediate Trend: Up 09/03/10 10477
Mikey Long term trend: UP 10/13/10 11052
Mikey current trend opinion: 
Mikey: 6-1 NYSE Current trend down 12290
Mikey: NASDAQ 6-1 Current trend down 2767
IBD : 6-1 Market in correction 12290

US markets short term  technical trading indicators:

VIX (OB 10 - OS 40) 19.99  VXZ 52.80 Mikey OB/OS index (80 OB 20 OS) .80
Put/Call Ratio(.6 OB 1.2 OS) .76 10 day average  .96
Ratio Put Premiums to Call Premium (..34 to 2.5)  1.38 10 day ave 1.25
Mutial Fund  Purchase/Redemptions ( 1.5 to .66)  1.19   
Williams %R 12 day 43.46 Weekly -78.58
Bulls 37  Bears 26  Bull/Bear ratio 1.42
Mikey Thrust indicator: Daily 5 Weekly 2 (1 low, 10 max) 7,3
DJIA MACD -135.13 Rising /Negative cross 5-9
Weekly MACD +184.99 falling / Negative cross 5-16
NYSE New Highs 36 (12/7 429)  New Lows (1-14 152 ) 55
NASDAQ New Highs 35(12-7 352) New Lows (6-10 162) 115
Advance/Declines
Daily NYSE Advance-Decline +1068 NASDAQ  Advance-Decline +359
Daily Mikey A/D line NYSE (5-31 33958)+27766
Daily Mikey A/D line NASDAQ (2-18 10095) (6-13 -2188) -1687
5 day AD NYSE +1460  NASDAQ +501 NYSE..(OB +4000 OS -4000)  
10 day AD NYSE -1010 (6000 OB -6000 OS)
 % above 200 day ave (6-13 47%) 48%
 below 50% indicates intermediate trend may be changing
Days to option expiration 20
DJI Moving Averages
5 day 12003 Rising/Price below
20 day 12174 Falling/ Price below
50 day 12396 Falling/Price below
90 day 12293 Falling//Price below
200 day 11743 Rising/Price above
20 week 12294 Rising/Price below
50 week 11509 Rising/ Price above
90 week 10994 Rising/Price above
200 week 10802 Flat Price above

Comments:
5-18 Put options killing rally
5-19 Ditto yesterday
5-20 Option expire Mikey buys VXZ 51.76
5-23 Dollar breaks out end of the world coming for Stocks a little late
5-24 Mikey calls DJI 12356 in downtrend
5-27 Dollar reverses down assets reverse up
5-31 IBD and Mikey current trend up
6-1 Whipsaw selloff 10 yr rates 2.96, 30 year to 4.15 6 month lows. Economic weakness story being told for the first time High Yield falling apart indicates credit quality problems coming
Mikey and IBD current trend down
6-3 Bad jobs number story turns decidedly negative
6-6 All world markets now in downtrends Fed remains quiet Mikey Shorts COH@ 60.32, SPG@ 114.92   EWZ @73.22,Buys DZZ@ 6.53, Buys EDZ @18.54 
6-7 Bernanke says economy is weaker says nothing about what the Fed will do. The Dallas Feds Fisher says the Fed has done enough it is now up to the government to make the right fiscal policies.
6-8 Bull bear comes in at 1.86 to 1 bulls after a 800 point decline. Mikey Nasdaq A/D line goes negative for the first time since last August. New lows for this index are higher than March and also the highest since August or pre QE2. In other words the Nasdaq has given up everything it gained on QE2. Put calls are starting to run hot at 1.15 and there is a week and 2 days until expiration. End of Qtr is approaching and the tone is getting negative.
6-9 oversold rally 5 Day was at -4000 for both the NAS and DJI and after today it is at -3300 and -3200 with the Put call at 1.01 and .95 on 10 day more rally may be needed.
6-10 Dollar up strongly to its 50 day ave. market breaks down 172
6-13 Precious metals hit. According to IBD 47% of the stocks are now above their 200 day average the lowest reading of the year. Preferred stocks trend  to down. Keeping my eye on National and Calif Muni markets as they are weakening. The trend is toward quality and away from risk.
Bought BZQ today @ 16.18
6-14 Going into this week put buying was heavy and now....options expiration are just 3 days away poof there go the puts up in smoke with the rally. Like I said 80% of options expire worthless and these counter trend rallies are the reason.

6-15 Dollar back above the 50 day and making a run at reversing trend. Euro and Pd tank. Oil drops 4.49 Platinum now in downtrend only Gold remains up. When it breaks the signal for deflation and economic weakness will be given. Bull/Bear now 36 to 27 or 1.42 bullish 10 day, NYSE AD line at oversold -5788

6-16 Dollar on verge of blowing up Options expire triple witch tomorrow

They talk about Greece but the truth is ( I hate to even deal with reality) the world economy is sinking fast along with the commodities. All the major currencies are falling now against the dollar the Aussie is the strongest and the last to go below 10523 should get someones attention, it does mine.

6-17 Dollar pushed down into expiration

6-20 Working off oversold.

We are working off the oversold condition and now have the 10 day AD line at -1010 and the 5 day at +1460. Put call came in a very tame .76 with the 10 day at and elevated .96. Big bad voodoo daddy talks tomorrow.

Mikey