The world is saved US Fed Prints dollars for Europe DJI rallies 490

This is a band aide to buy time for this problem. The banks may be saved for now but the austerity measures that are to come and the problems left to sort out are in my mind unsolvable in the near term. This dance can go on and on but it is not doing anything to deal with the problem. 

The markets are tired to the hip to the dollar and the US Fed did their best to trash the dollar by printing new money for Europe. The risk trade has gone to Sovereign levels now and they are not just dealing with in country banks but plugging up national debt and the problem is spreading. Today we party until the next disaster rears its head.

The current trend is trend turned up today the NYSE is still oversold for the past 10 days and far from overbought on the 5 and 20. The Put/call ratio ended at .86 indicating that there is some disbelief in this rally and the put premiums are still a high 123.  The VIX came back to earth to 27.80 which makes the Mikey LT at a more neutral 49.

The commodities markets are taking note of the dollar and are trying to turn up.  Copper had a big day rising .20 and has gone current trend up. Silver is on the verge joining oil and Gold on the upside. The bond markets are getting hit along with the dollar and both are barely hanging on to their uptrend. In other words, the Fed is saving Europe at the expense of rising commodities and rising interest rates. Sound familiar??

Mikey

Closing Prices

US Stock Indexes DJI Trading Range 10600 to 12200
Long term trend Neutral  Intermediate trend neutral   Current trend up
Market conditon :Mikey10 oversold, Mikey 5 and Mikey 20 neutral
DJIA 12045.68 +490.05 S/P 500 1246.96 +51.77
NYSE Comp 7484.50 +334.79  NASDAQ 2629.34 +104.83
S/P Small Cap 600 410.48 +22.67 Russell 2000 737.42 +41.32
DJT 4946.17 +225.96  DJU 448.84 +11.74
US bonds and interest rates
US Gov rates: 6 mo .0550%  2 yr .2578% 5 Yr  .9456% 10 yr 2.06 30 yr 3.04
Ave Mtg rates : 30 Yr 4.02% 30 Yr Rifi 4.10% 15 Yr 3.39% 5/1 ARM 2.94
IEF (US10 yr) 103.90 -.61 TLT (USLT) 117.88 -1.87
MUB (NatlMuni) 106.17 -.05 Cal Muni (NCA) 9.25 +.01
Preferred (PFF) 35.94 +.22 HYG (High Yield)86.60 +1.45
BND Total Bond Index 83.36 -.18
Commodities
CRB Commodities Index 313.82 +3.36  
Gold 1750.30 +36.90 Silver 32.80 +.94 Copper 3.57 +.20
Platinum 1560.80 +20.10  Nickel (JJN) 25.19 +.69
Oil 100.36 +.57 RBOB 2.56 +.03 Nat Gas  3.55 -.08
Grains (JJG) 42.37 +.22  Livestock (COW) 31.18 +.22
Cotton (BAL) 56.50 -.53  Agg complex(JJA) 51.46 +.46
US Dollar Index and World Currencies
Euro 1.3385 +.0109 Pound 11.5572 +.0081 Swiss Franc 1.0815 +.0078
Yen 1.2698 +.0051 Aussie 1.0312 +.0260 Dollar Index 78.49 -.65
World Debt markets
BWX(Intl Treas) 59.14 +1.04 PCY(EmerMkt) 26.94 +.13 IBND(Intl Corp) 31.81 -.01





All Markets Current Trends 

World debt markets

US Bonds: 11-16 current trend up
US Natl Muni Markets:: 11-21 current trend up
Intl Treas Bonds 11-9 current trend down
Intl Corp Bonds 11-9 current trend down
Emerging Markets Debt: 11-21 current trend down
US High Yield 11-30 current trend neutral

US Preferred Stocks 11-30 current trend neutral
Commodities

Commodity index (Broad based) 11-30 current trend neutral 
Gold: .11-29 current trend up  
Silver: 11-30 current trend neutral
Copper 11-30 current trend up
Platinum 11-17 current trend down

Palladium 11-17 current trend down
Nickel 11-1 current trend down

Grain complex 9-19 current trend down   

Sugar 10-31 current trend down
Cotton 10-21 current trend down
Livestock 11-21 current trend neutral
Coffee 9-21 current trend down

Lumber 9-23 current trend down
Agg complex 9-16 current trend down

Oil 10-18 current trend up
Gasoline 11-21 current trend down
Natural Gas 7-28 current trend down

World Stock markets

US Stocks: 11-30 current trend up
Europe 11-9 current trend down
China: 10-26  current trend up
Brazil 11-30  current trend neutral
Japan 11-30 current trend neutral
India 11-9 current trend neutral
Russia 11-30  current trend neutral
Emerging Markets: 11-30 current trend neutral
Total world markets 11-30 current trend up


Currencies markets

US Dollar Index 11-14 current trend up
Aussie Dollar 11-30 current trend up  
Euro 11-14  current trend down
Brit Pd  11-21   current trend down l
Swiss Franc: 10-27  current trend down  
Jap Yen 10-31 current trend down
Canadian Dollar 11-21 current trend down
Mexican Peso 8-3 current trend down

Brazilian Real 11-30 current trend neutral
Indian Rupe 11-21  current trend down

Trend changes today:

World Stocks:US up, Brazil neutral, Japan neutral, Russia neutral, Emerging mkts neutral,
Total world mkts up
Currencies:, Aussie to up, Brazilian Real to neutral
Commodities: Copper to up Silver to neutral
World Debt : High yield to neutral, Preferred to neutral
Intermediate Term Trends
Oil: Neutral
Gold: Up
Silver: down
Commodities: Down
US Bonds: Up
World Bonds: Down
Emerging Debt: Neutral
Emerging Markets: Down
Dollar:UP
World Stocks: Down 
US Stocks Down


US Stock Market Trends

Mikey Short term  up   11-30 12045
Mikey Intermediate Trend: Neutral   11-30 12045
Mikey Long term Neutral 8-4-11 11779

NYSE 11-30 Current trend up
NASDAQ 11-30 Current trend down

DJ Utilities: 11-30 Current trend down
Transports: 11-30 current trend neutral
Russell 2000: 11-30 current trend down 
IBD :11-17  Market in Correction 11770
US markets short term technical trading indicators:

Mikey5 +40 Mikey10 -108 Mikey20 -7(-135 OS, 0 Neutral,  135 OB)

VIX (OB 10 - OS 40) 27.80  ,VXZ 66.61
Mikey Int OB/OS index (80 OB 20 OS)+49
Put/Call Ratio .85 10 day average .97
Put Premium/Call Premium 1.23 10 day 1.15
Mutual Fund Purchase/Redemptions  ( 1.5 to .66) 1.07
Stocastic Fast D 10 day 29.24  Weekly 61.08
Bulls 44.2   Bears 30.5   Bull/Bear ratio 1.45
Daily DJIA MACD  -19.91 up/ Negative cross 11-9
Weekly MACD -20.95 up / Positive cross 10-24
NYSE New Highs 103 (12/7-10 429) New Lows (8-8-11 1345 ) 23
NASDAQ New Highs 62 (12-7-10, 352 ) New Lows ( 10-4-11, 755 ) 66
Advance/Declines

Daily NYSE Advance-Decline +2292 Nasdaq Advance-Decline +1622
Daily Mikey A/D line NYSE (7-7 37567) (8-8 19199) 29462
Daily Mikey A/D line NASDAQ (2-18 10095) (10-3-10-15390) -11735
5 day AD NYSE +1595 NASDAQ -91 NYSE..(OB +4000 OS -4000)
10 day AD NYSE -5415 (5000 OB-5000 OS) 20 day -487 (7000 OB -7000 OS)
% above 200 day ave  36%

below 50% indicates intermediate trend down

DJI Moving Averages

5 day 11522  up/ Price above
20 day 11811  Down/ Price above
50 day 11553 Flat/Price above

90 day 11490 Down/Price above
200 day 11949 Down / Price above
20 week 11528 Down/ Price above
50 week 11928  Down/Price below
90 week 11379  Up Price/above
200 week 10609 Flat / Price above

Daily comments for last 30 days:

10-21 The intermediate term was upgraded to neutral and the current trend is still up. Stocks break out above the top of their trading range of 11600 close at 11808

10-24 All three Mikey indicators are overbought. The Mikey5 is at 38, the Mikey10 is at 144 and the Mikey20 is at 136. This is unusual and the last time it happened was July 7 and that was a top. The trends are turning positive for world markets. Brazil current trend is now up along with the total world markets indicator. US bonds are now in current trend down and joined its buddy the dollar. I believe these changes are temporary but the trends must be honored.
10-25 another day another almost solved European crisis another dollar down day  160 points. Ho hum
10-27 Euro Deal made stocks rally World stocks turn up US bonds and dollar in downtrend
10-28 Euro party ends now lets look at something else like phony job numbers that's next week
11-1 Stocks closed down 297 at 11657 or at the 20 week average. That was the breakout on 10-21 and was then resistance and now is support. That is also my line in the sand or you may also call it the pivot point.That is the critical area that this battle is being fought. A closetocks closed down 297 at 11657 or at the 20 week average. That was the breakout on 10-21 and was then resistance and now is support. That is also my line in the sand or you may also call it the pivot point.That is the critical area that this battle is being fought. A close below that number would turn the trend down again. Pt/calls ran hot at 1.22
11-8 approaching overbought
11-9 Europe breaks dollar rallies stocks sink 389
11-12 Market back above 200 day weaving back and forth on Europe story
11-21 The big news today was that world stocks all broke their up trends are in a downtrend along with the broader commodity index. The only commodity I follow that in in an uptrend is oil as Gold broke its uptrend today. The strength of the dollar is overwhelming the asset markets. The central bankers have a decision to make here which is to pump it up by taking the dollar lower or letting the markets fall.
11-22 all markets in downtrends market oversold Mikey5 -175 Mikey 10 -138
11-23 Dollar strength and weak world assets US Bonds 30 year 2.88%
11-24 Market oversold M5 157 M10 166 M20 126
11-27 Market opens up 300
11-30 Central banks intervene with Fed printing dollars for Europe marketm rallies 490