12217

12217 was the closing price on the DJI on the last day of 2011. If the DJI closes at or below that number then cash in the money market would have been the best investment this year. This is after 3 QE by the Fed and massive stimulus by the government.  The fiscal stimulus has produced really nothing and now the cliff comes with the ability to deficit spend coming down to the January wire.

The market is now oversold with the Mikey 3 at -183, the Mikey 7 at -232 and the Mikey 20 at -103.  The % stock above the 200 day is now 38%.  The NASDAQ AD made another new low today.  The fact that the market is oversold  is not a reason to buy it is just an area that there could be a bounce.

I want to remind my readers that the income markets are under siege and once again cash earning nothing is outperforming income investments. There is sever pressure in the money markets and the public is not aware of it but at some point will be and will stampede.

Mikey

DJI Trend Summary
Daily Downtrend 13344 on 10-23 
Intermediate Downtrend  at 12932 on 11-7 5 days old
Long Term Uptrend 11315 on 11-1-10 2 years old
Last high 9-14 13653  Last Low  11-15 12496
20 day average rallies since downtrend began  0
50 day averge rallies since uptrend  began 0
IBD Market in correction 10-13 13344
 Long Term UP/ Intermediate Term Up/ Daily Trend Down/Short Term up
DJI Close 12578.50 -52.45
Step up range: 13043 - 13344
Current trading range 12496- 12973
Step down support range 12000-12966

Average watch
50 Hour Ave: 12802 Price below
20 Day Ave: 13060 Price below
50 Day Ave: 13296 Price below (no long positions if this line is red)
20 Week Ave: 13151 Price below
50 Week Ave: 12891Price below
200 Week Ave 10973 Price above


Overbought/Oversold Oscillator(Mikey reading) +150  to -150
Take profits  at +150 readings  buy or cover at -150 readings
3 day -183 OS  7 day -232 OS 20 day -103 OS  50 day -8
MACD Readings
MACD Crosses: Negative cross = consolidation/correction Positive cross=uptrend
Short term (50 hour) down (43 Hrs) signal 11-7
MACD Hourly -93.69
Daily trend (50 day) Down 17 days 10-23-12
MACD Daily -195.03 Negative cross 9-26
Intermediate trend (50 week) Down (7 days).signal 11-7 12932
MACD Weekly (+56.39) Negative cross  10-23-12
Long term trend (200 week) Up (24 months)...signal 12/1/10 11577
MACD Monthly (+498.54) Negative Cross 11/8/12.


Volume Readings
Volume (Millions) NYSE 3836  NASDAQ 1971
Advance/Decline NYSE -1094 NASDAQ -558
Mikey NYSE A/D line +58491 Mikey NASDAQ A/D line -20466 (new low)
Trader Psychology
Put/Call day 1.16 10 day .92 Put Prem/Call Prem  1.42 10 day 1.09
Bull/Bear Ratio 1.33  Bulls 38.3 %, Bears 28.7%
Mutial Funds Buy/Redeem ratio 1.15
VIX 18.51 Trin  .68 10 day ave 1.26
Mikey Fear 86 (20 high, 80 low)
New Highs NYSE 14  NASDAQ 11  New Lows NYSE 283 NASDAQ 183
% Stocks above 200 day ave 38% (above 50% intermediate term uptrend)


Closing Prices
 
US Stocks
DJIA 12578.50 -52.45 S/P 500 1350.12 -5.37 NASDAQ 2830.52 -16.29
DJT 4888.71 -37.24  DJU 436.48 -4.95
US Debt Markets
US Gov rates: 6 mo .1362% 2 yr .2460% 5 yr .6217% 10 yr 1.58% 30 yr  2.72
IEF (US 7-10 yr) 108.95 -.05 TLT (20 yr) 126.50 -.23 High Yield 90.67 -.04
MUB(NatMuni) 112.80 -.04 Cal Muni(NCA)10.29 -.21
BND Total Bnd Ind 84.99 -.01
Commodities 
CRB Commodities Index 292.84 -1.08
Gold  1713.80 -16.30  Silver 32.67 -.21
Copper 3.47 +.01 Platinum 1573.30 -17.30  
Oil 85.45 -.87  RBOB 2.61 -.07 Nat Gas 3.70 -.05
US Dollar Index and World Currencies
Euro 1.2684 +.0039 Pound 1.5695 +.0023 Swiss Franc 1.0437 +.0023
Yen .12089 -.0142 Aussie 1.0344 -.0036 Canadian Dollar  .9931 +.0027
Dollar Index 81.14 +.04
 
All Market Trends:


Commodities
Gold:      LongTerm/ Intermediate Term  Daily Trend// Short term
Silver:    Long Term / Intermediate Term/ Daily Trend / Short term
Copper  :Long Term/ Intermediate Term/ Daily Trend / Short term
Oil:         Long Term/ Intermediate Term/ Daily Trend / Short term
Gasoline Long Term/ Intermediate Term/ Daily Trend/  Short term
Nat Gas :Long Term/ Intermediate Term/ Daily Trend / Short term
CRB        Long Term/ Intermediate Term/ Daily Trend / Short term
Bond Markets
US Bonds LT Long Term/ Intermediate Term/ Daily Trend/  Short term
Intl  Treas       Long Term/ Intermediate Term/ Daily Trend /Short term
Intl Corp          Long Term/ Intermediate Term/ Daily Trend/ / Short term
US Muni        Long Term/ Intermediate Term/ Daily Trend   Short Trend
High Yield     Long Term/ Intermediate Term/ Daily Trend/ / Short term
Currencies
Aussie DollarLong Term/ Intermediate Term/ Daily Trend/ / Short term
Brit PD         Long Term/ Intermediate Term/ Daily Trend / Short term
Euro             Long Term/Intermediate Term/Daily Trend Short term
Yen               Long Term/ Intermediate Term/Daily Trend/  Short term
Swiss            Long Term/ Intermediate Term/ Daily Trend / Short term
Can Dollar   Long term/ Intermediate Term Daily Trend/ Short term
US Dollar   Long Term/ Intermediate Term/ Daily Trend / Short term
Stocks
US      Long Term/ Intermediate Term/ Daily Trend/  Short term
Europe Long Term/ Intermediate Term/ Daily Trend/ Short term
Germany Long Term/ Intermediate Term/ Daily Trend/ Short term
China     Long Term/ Intermediate Term Daily Trend/ / Short term
Brazil  Long Term/ Intermediate Term/ Daily Trend/ Short term
India   Long Term/ Intermediate Term/ Daily Trend/ Short term
Emerg Mkts   Long Term/ Intermediate Term/ Daily Trend/Short term
Japan Long Term/ Intermediate Term/ Daily Trend/ Short term