Early morning rally fails on good economic news.

An early morning rally failed to follow through and sold into the close.  The story is saying that the US economy picked up and that was the excuse for up 90 on the open.  Put/call fell to 50 and the VIX fell to a very tame 25.  The VIX has been falling on this recent sell off indicating that there is little fear of something big on the downside. Put premiums are rising again and closed at 1.38. This blog is not concerned with economic news, which I consider to be fabricated, so I will not spend any time talking about it. Technically were are still neutral but the hard asset groups are much weaker than the over all market.  The central bankers are  supporting a stronger dollar and stronger economic news in the US vs the rest of the world and deflating hard assets in dollar terms. This will help the recovery down the road.

Key Indicators

US Stock Indexes DJI Current Trading Range 11700 to 12200 Price as % of range 34
Support 1 11700 Support 2 11200 Support 3 10600
Resistence 1 12200 Resistance 2 12400 Resistence 3 12800
Long term trend Up ...signal 12/1/10 11577
Intermediate trend Neutral ...signal 12-14-11  11823
Current trend neutral signal 12-14-11  11823
IBD Current trend 11-17 Market in correction 11577

OB/OS: Mikey5 (-38) Neutral, Mikey10 (-25) Neutral,
Mikey20 (-81) Neutral, Mikey50 (+63) Neutral
Put/Call day .50 10 day .82,  Put Premium 1.38 10 day .98,  
Bull/Bear Ratio 1.49 Mutial Funds Buy/Redeem ratio 1.02
MACD  Daily (+35.30),Negative cross 12-14, Weekly (+24.30), Positive cross 10-24
VIX 25.11 VXZ 65.67 Mikey Fear 59 (80 Low 20 High) 
 % Stocks above 200 day ave 30% (above 50% uptrend)
Averages
20 day 11827 Falling/ Price above
50 day 11793 Rising/ Price above

20 week 11513 Falling/ Price above
50 Week 11955 Rising/Price below

Closing Prices

US Stocks
DJIA 11868.81 +45.33 S/P 500 1215.75  +3.93
NYSE Comp 7117.10 +32.35 NASDAQ 2541.01 +1.70
S/P Small Cap 400.48 +5.31 Russell 2000 716.01 +7.55 
DJT 4832.37 +74.93 DJU 446.84 +6.07
US Debt Markets
US Gov rates: 6 mo .0405%  2 yr .2379% 5 Yr .8459% 10 yr 1.90 30 yr 2.90
Ave Mtg rates : 30 Yr 3.96 % 30 Yr Rifi 4.04% 15 Yr 3.30% 5/1 ARM 2.88
IEF (US 7-10 yr) 105.26 -.10 TLT (20 yr) 120.97 -.39
MUB (NatlMuni) 107.41 +.11 Cal Muni (NCA) 9.29 +.04
BND Total Bond Index 83.82 -.04
Commodities
CRB Commodities Index 294.45 -.84 
Gold 1576.20 -10.60 Silver 29.28 +.34 Copper 3.26 -.02 Platinum 1407 -14.30
Oil 93.87 -1.09 RBOB 2.48 -.03  Ethenol 2.06 uc  Nat Gas 3.12 -.01
Wheat 577.50 -4.00 Soybeans 1114.75 +8.75 Corn 578 -3.75 
Sugar 22.75 -.05 Livestock 119.15 +.40
Cotton  87.29 +1.53 Lumber 232.00 +7.30 
S Dollar Index and World Currencies
Euro 1.2981 +0047 Pound 1.5392 +0053 Swiss Franc 1.0503 +.0141
Yen  1.2641 +.0022 Aussie .9958 +0038
Dollar Index 80.19 -.42 
World Debt markets
BWX(Intl Treas) 58.43 +.22 PCY(EmerMkt) 27.01 -.24 IBND (Intl Corp) 31.64 +.19

All Markets Current Trends 

World debt markets

US Bonds: 12-14  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 12-12 current trend neutral
US Preferred Stocks 11-30 current trend neutral

Currencies markets

US Dollar Index 11-14 current trend up
Aussie Dollar 12-12 current trend down
Euro 11-14 current trend down
Brit Pd 11-21 current trend down
Swiss Franc: 10-27 current trend down
Jap Yen 10-31 current trend down
Canadian Dollar 12-7 current trend down
Mexican Peso 12-12 current trend down 
Brazilian Real 12-12 current trend down
Indian Rupe 11-21 current trend down
Commodity index (Broad based) 11-21 current trend down

Metals
Gold: .12-11  current trend down
Silver: 12-11 current trend down
Copper 12-12 current trend down
Platinum 11-17 current trend down

Palladium 12-14 current trend neutral
Agg, Fiber, Wood

Wheat current trend down
Corn current trend down

Soybeans current trend down
Sugar 10-31 current trend down
Cotton 10-21 current trend down
Livestock 12-7 current trend neutral
Coffee 9-21 current trend down

Lumber 12-14 current trend down
Energy

Oil 12-14 current trend neutral
Heating Oil 12-9 Current trend down
Gasoline 12-7 current trend down
Ethenol 9-23 current trend down
Natural Gas 7-28 current trend down

World Stock markets

US Stocks: 12-14 current trend neutral
Europe 12-12 current trend down
China: 12-11 current trend down
Brazil 12-11 current trend down
Japan 12-12  current trend downl
India 11-9 current trend down
Russia 12-9  current trend down
Emerging Markets: 12-11 current trend down
Total world markets 12-11 current trend down

Intermediate Term Trends

Dollar:Up
Oil: Neutral
US Stocks Neutral
Gold: Neutral
US Bonds: Up
Silver: Down
Commodities: Down
World Bonds: Down
Emerging Debt: Neutral
Emerging Markets: Down
World Stocks: Down 

Trend changes today:

World Stocks: 
Currencies:,
Commodities:
orld Debt :