Muni Bonds hit the skids

US Municipal bonds took it on the chin today and the daily trend turned down with the intermediate term at neutral.  This is similar to the move just experienced by the long term US bond market earlier this week.

Stocks pulled back for the third day in a row to just above the 50 day average.  The NASDAQ is now below its 50 day.  This put the young uptrend in question.
Put/Call ratios continue to run a very low .75 0on the 10 day and .79 today even after a 3 day pullback.

In commodities, oil rallied and has a short term up signal along with gasoline. Gold and Silver continue to limp along below their 50 day averages and are not responding to the lower dollar which has all for trends down.  Natural gas, which is my favorite commodity in the long run is back to just below its 200 day average, closing at 3.31 all trend s are now down and I will avoid it until I see the trends turn up.

AAPL 507.50 is back to its Feb 15 th close and has almost given up its gain for the year. On the plus side it looks like it is forming a positive divergence so a whipsaw reversal to the upside is possible in the near term.

Mikey

DJI Trend Summary 
Daily Uptrend  13248 on 12-11 
Intermediate Uptrend at 13034 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 12471
20 day average sell offs  since uptrend began 
50 day averageselloffs since uptrend began
IBD Market in confirmed uptrend 11-23-12  13009
Long Term UP/ Intermediate Term down/ Daily Trend Neutral/Short Term up
DJI Close 13135.01 -35.71
Step up range: 13344 - 13650
Current trading range 13043 - 13344
Step down support range 12471- 12973

Average watch
50 Hour Ave: 13175 Price below
20 Day Ave: 13002 Price above
50 Day Ave: 13119 Price above (no long positions if this line is red)
20 Week Ave: 13197 Pricebelow
50 Week Ave: 12968 Price above
200 Week Ave 11052 Price above


Overbought/Oversold Oscillator(Mikey reading) +150  to -150
Take profits  at +150 readings  buy or cover at -150 readings
3 day -60 N  7 day +10 N 20 day +128 N  50 day +32 N
MACD Readings
MACD Crosses: Negative cross = consolidation/correction Positive cross=uptrend
Short term (50 hour)down (6 Hrs) signal 12-14
MACD Hourly -14.21
Daily trend (50 day) Up 4 days 12-11
MACD Daily +41.91 Positive Cross 11-23
Intermediate trend (50 week) up (7 days).signal 12-5 12932
MACD Weekly (+46.51) Negative cross  10-23-12
Long term trend (200 week) Up 25 months)...signal 12/1/10 11577
MACD Monthly (+523.33) Negative Cross 11/8/12.


Volume Readings
Volume (Millions) NYSE 3121  NASDAQ 1756
Advance/Decline NYSE -207 NASDAQ -45
Mikey NYSE A/D line +67246 Mikey NASDAQ A/D line -15786
Trader Psychology
Put/Call day .79 10 day .75  Put Prem/Call Prem 1.00 10 day .98
New Highs NYSE 63   NASDAQ 35  New Lows  NYSE 34 NASDAQ 39
  
Closing Prices

US Stocks
DJIA 13135.01 -35.71 S/P 500 1413.38 -5.87 NASDAQ 2971.33 -20.83
DJT 5786.95 +4.79 DJU 451.10 -.39
US Debt Markets
US Gov rates: 6 mo .145% 2 yr .246% 5 yr .69% 10 yr 1.70% 30 yr  2.87%
IEF (US 7-10 yr) 108.13 +,.26 TLT (20 yr) 123.43 +.75 High Yield 93.26 -.07
MUB(NatMuni) 111.18 -1.18 Cal Muni(NCA)10.22 -.07
BND Total Bnd Ind 84.54 +.05
Commodities 
CRB Commodities Index 294.89 +2.19
Gold  1697.00 +.20 Silver 32.29 -.02
Copper 3.68 +.02 Platinum 1614.50 +1.70
Oil 86.73 +.84 RBOB 2.66 +.06 Nat Gas 3.31 -.03
US Dollar Index and World Currencies
Euro 1.3065 +.0082 Pound 1.5981 +.0047 Swiss Franc 1.0713 +.0066
Yen .11745 +.0013 Aussie 1.0570 +.0034 Canadian Dollar  1.0082 -.0016
Dollar Index 79.56 -.35
 
All Market Trends:
(long positions only when Intermediate term and Daily Trend is green)
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
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