DJI falls 200 from top of range

Stocks sold off from the top end of the range but remain above important moving averages.  Volume rose slightly from its recent average. The Euro drama is coming to a head and the story was negative today. The trend remains up.

Mikey

US Stock Indexes DJI Trading Range 11700 to 12200   Price as % of range 90
Long term trend Up  Intermediate trend UP  Current trend UP
Market conditon :Mikey5 Neutral, Mikey10 Neutral, Mikey20 Neutral


Closing Prices

US Stocks
DJIA 11997.70 -198.67 S/P 500  1234.35 -26.66
NYSE Comp  7369.52 -190.19 NASDAQ 2596.38 -52.83
S/P Small Cap 401.51 -12.88  Russell 2000 722.68 -2346
DJT 48.63.95 -122.25 DJU 440.99 -6.34
US Debt Markets
US Gov rates: 6 mo .0407%  2 yr .2231% 5 Yr .8492% 10 yr 1.98 30 yr 3.02
Ave Mtg rates : 30 Yr 3.96 % 30 Yr Rifi 4.04 % 15 Yr 3.30 % 5/1 ARM 2.92
IEF (US10 yr) 104.80 +.53 TLT (USLT) 119.16 1.47
MUB (NatlMuni) 107.02 -.08 Cal Muni (NCA) 9.29 +.04
BND Total Bond Index 83.60 +.19
Commodities
CRB Commodities Index 307.95 -2.12
Gold 1713.40 -31.40 Silver 31.54 -1.08 Copper 3.50 -.05
Platinum 1496.40 -25.60   Nickel (JJN) 26.00 -.03  
Oil 98.34 -2.15  RBOB 2.57 -.01 Nat Gas  3.45 +.03
Grains (JJG)41.59 -.03 Livestock 119.60 -.175
Cotton  92.41 .36 Lumber 232.40 +1.40
US Dollar Index and World Currencies
Euro 1.3285 -.0068  Pound 1.5512 -.0081 Swiss Franc 1.0662 -.0031
Yen  1.2674 -.0009 Aussie 1.0166 -.0121
 Dollar Index 78.65 +.10
World Debt markets
BWX(Intl Treas) 59.04 -.54 PCY(EmerMkt) 27.26 +.03 IBND (Intl Corp) 32.00 -.32



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 up
US High Yield 12-7 current trend up
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 12-7current trend up
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 12-7 current trend down
Natural Gas 7-28 current trend down

World Stock markets

US Stocks: 11-30 current trend up
Europe 12-2 current trend up
China: 10-26  current trend up
Brazil 11-30  current trend up
Japan 11-30 current trend neutral
India 11-9 current trend down
Russia 12-2  current trend up
Emerging Markets: 12-2 current trend up
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 12-7 current trend up
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:
Currencies:,
Commodities:
World Debt :

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 UP



US Stock Market Trends

Mikey Short term  up   11-30 12045
Mikey Intermediate Trend: UP  12-6-11  12150
Mikey Long term UP 12-6-11 12150

NYSE 11-30 Current trend up
NASDAQ 11-30 Current trend up
DJ Utilities: 11-30 Current trend up

Transports: 11-30 current trend up
Russell 2000: 11-30 current trend up 
IBD :11-17  Market in Correction 11770
US markets short term technical trading indicators:

Mikey5 +47 Mikey10 +69 Mikey20 -49 (-135 OS, 0 Neutral,  135 OB)

VIX (OB 10 - OS 40) 30.59 ,VXZ 66.96
Mikey Int OB/OS index (80 OB 20 OS)+
Put/Call Ratio .89 10 day average .96
Put Premium/Call Premium .90 10 day 1.10
Mutual Fund Purchase/Redemptions  ( 1.5 to .66) 1.02
Bulls 47.4   Bears 29.5  Bull/Bear ratio 1.60
Daily DJIA MACD  +96.05  up/ Positive cross 12-2
Weekly MACD  3.26 up / Positive cross 10-24
NYSE New Highs 85 (12/7-10 429) New Lows (8-8-11 1345 ) 21
NASDAQ New Highs 16 (12-7-10, 352 ) New Lows ( 10-4-11, 755 ) 72
Advance/Declines

Daily NYSE Advance-Decline -2175 Nasdaq Advance-Decline -1809
Daily Mikey A/D line NYSE (7-7 37567) (8-8 19199) 29166
Daily Mikey A/D line NASDAQ (2-18 10095) (10-3-10-15390) -13242
5 day AD NYSE +310 NASDAQ -842  NYSE..(OB +4000 OS -4000)
10 day AD NYSE +3623 (5000 OB-5000 OS) 20 day -3133(7000 OB -7000 OS)
% above 200 day ave  32%

below 50% indicates intermediate trend down

DJI Moving Averages

5 day 12092  Up/ Price below
20 day 11841  Flat/ Price above
50 day 11685 Up/Price above

90 day 11482 Down/Price above
200 day 11944 Down / Price above
20 week 11517  Down/ Price above
50 week 11946  Up/Price below
90 week 11398  Up Price/above
200 week 10610 Flat / Price above

Daily comments for last 30 days:

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 market rallies 490
12-6 Stalled at the top end of the range.