Fed Supported Market closes down 12

The players were running to the exits and the Fed stepped in and grabbed it by the suspenders and pulled it back up.  The trial balloon floated in press about possible slowing in Fed bond buying spooked bonds and stocks and sent the Utilities into a "flash crash" until the Fed started buying bonds again and drove rates lower.

This sell of reminds me of a missile starting to run out of fuel and starting to sputter. It may go higher but without fuel the handwriting is on the wall. The Fed is prepping the players for this event. The financial markets are a video game with the Fed holding the joy stick and I believe that the stick going to be pushed forward in the not to distant future and the missle is going to go nose down and that is what the last two days were all about.  Continue to monitor the trends and act accordingly.

Mikey

DJI Close 15294.50 -12.67

DJI Trend Summary
Long Term UP/ Intermediate UP/ Daily UP/Short Term down
Hourly down 5-23 15304
Daily Uptrend: 13412 on 1-2 (98 trading days) (Ave trend 60 days-90 days)
Intermediate Uptrend: at 13412 on 1-2( 98 trading days)
Long Term Uptrend 11315 on 11-1-10  2 years + 6 months

IBD  MARKET uptrend resumes 4-29 14818
Current Trading range   14444 -15542
Step Down trading Range 14050 - 14444
Resistence: 15542
Support 1 15180 
Support 2 14800
Support 3 14400

Average watch
50 Hour Ave: 15319 price below 
20 Day Ave: 15085 Price above
50 Day Ave: 14794 Price above
200 Day Ave: 13763 Price above
20 Week Ave: 14427 Price above
50 Week Ave: 13637 Price above
200 Week Ave: 11904 Price above

Indicators
NYSE A/D -506 NASDAQ A/D 97
NYSE A/D line 101711 NASDAQ A/D line -989
Put/Call 1.02 10 day .78  Put Prem/Call Prem  .83 10 day .71
% Stocks above 50 day average  70
CNN  Fear/Greed Index 80 EXTREME greed (100 Greed to 0 Fear)
VIX 14.07 year range (27.73 to 11.05) Fear (25 high 11 low)
Mikey total OB/OS Oscillator  Range (+550 to -550)  144
Bulls 55.2  (58.8 to 21.3) Bears 18.8 (54.4 to 15.6)  Ratio 2.93
Mutual Fund Purch/Redemp: 1.26 (.66 to 1.46) High public buy
DJI PE ratio 17.0   DJI  Price/Book 3.77 (1.27 to 4.13)
DJI Dividend Yield 2.41 (2.38 to 4.45)
New Highs NYSE 52 NASDAQ 50
New Lows  NYSE 36  NASDAQ 28
Notable  trend changes
Japan drilled,  India All down,  Brazil reverses inter up to down

Closing Prices

US Stock
DJI 15294.50 -12.67 DJT 6429.79 +13.53 SPX 1650.51 -4.84
DJU 504.51 -2.95  NASDAQ 3459.42-3.88
US Debt Markets
US Gov: 3 mo .046% 2 yr .251% 5 yr .898% 10 yr 2.02% 30 yr  3.21%
Mortgage Rates 30 year 3.66% 15 Yr 2.79%
IEF(2-10 year) 106.36 +.09 TLT (US 20 yr) 116.55 +.46
Muni Bonds 110.71 +.11 Cal Muni (NCA) 10.19 -.02
LQD (Inv Grade Corp) 119.55 +.11 High Yield 94.89 -.26
Commodities 
CRB Commodities Index 286.03 -.33
Gold 1391.80 +24.40 Silver 22.51 +.04
Copper 3.30 -.08  Platinum 1457.20 -12.00
Oil  94.25 -.03 Gasoline 2.82 -Nat Gas 4.26 +.07-

Dollar Index 83.80 -.69
US Dollar Long Term/ Intermediate Term / Daily Trend / Short term
 
All Market Trends: 
 
Commodities
Gold: (GLD)    Long/ Intermediate   Daily / Short term
Silver: (SLV)   Long  / Intermediate / Daily / Short term
Copper:(JCC) Long / Intermediate / Daily  / Short term
Oil: (USO)       Long / Intermediate / Daily/ Short term
Gasoline (UGA) Long/ Intermediate / Daily/Short term
Nat Gas:(UNG)Long Term/ Intermediate/ Daily/ Short term
Commod (USCI) Long Term/ Intermediate / Daily / Short term
Bond Markets
US Bonds LT (TLT) Long Term/ Intermed/  Daily/ Short term
US Corp BBB (LQD)  Long Term/ intermediate/Daily/ Short term 
US Muni  (MUB)      Long Term  Intermed/ Daily/ Short Trend
High Yield  (HYG)   Long Term/Interm/ Daily/ Short term
Utility stocks (XLU):Long / Intermed/ Daily  / Short term
Stocks
US ($DJI)  Long Term/Interrmed Term/ Daily Trend/  Short term
Europe(IEV) Long Term/ Intermediate Term/ Daily Trend/ Short term
China (FXI)    Long Term/ intermed Term/ Daily Trend/ Short term
Brazil EWZ)  Long Term/ Intermediate Term/ Daily Trend/ Short term
India  (PIN)   Long Term/ Intermediate Term/ Daily Trend/ Short term
Emerg Mkt(EEM) Long Term/ Interm Term/ Daily Trend/Short term
Japan (EWJ) Long Term/ In termed Term/ Daily Trend/ Short term

Stocks I like 
Buy when Daily and Intermediate are green the short term turns green from
red or price TRADES DOWN the 50 day average THE FIRST TIME
Place stop @ -5% Sell 3 to 5 days after 20 day high or after stock double tops
Buy the second cross of the short term ( flashes green then  red then green)
 
(These are not reccomendations as I am not an analyst or financial planner
 
AAPL Long Term/ Intermediate Term/ Daily Trend/ Short term
AET Long Term/ Intermediate Term / Daily Trend/ Short term
AGU Long Term/ Intermediate Term/ Daily Trend/ Short term
AMDLong Term/ Intermediate Term/ Daily Trend  Short term
APA  Long Term/ Intermediate Term/ Daily Trend  Short term
APC  Long Term/ Intermediate Term/ Daily Trend/ Short term
ATHN Long Term/ Intermediate Term/ Daily Trend/ Short term
AUY Long Term/ Intermediate Term/ Daily Trend/ Short term
AXP Long Term/ Intermediate Term/ Daily Trend/ Short term
BP  Long Term/ Intermediate Term/ Daily Trend/ Short term
BWLD  Long Term/ Intermediate Term/ Daily Trend/ Short term
CAT Long Term/ Intermediate Term/ Daily Trend/ Short term
CLNE Long Term/ Intermediate Term/ Daily Trend/ Short term
CLF Long Term/ Intermediate Term/ Daily Trend/Short term
COG Long Term/ Intermediate Term/ Daily Trend/ Short term
COP Long Term/ Intermediate Term/ Daily Trend/Short term
COST Long Term/ Intermediate Term/  Daily Trend Short term
CRM Long Term/ Intermediate Term/ Daily Trend/ Short term
DAL  Long Term/ Intermediate Term/  Daily Trend Short term
ELLI Long Term/ Intermediate Term/ Daily Trend/ Short term
FB   Long Term/ Intermediate Term/ Daily Trend/ Short term
FDX Long Term/ Intermediate Term/ Daily Trend/ Short term
GILD  Long Term/ Intermediate Term/ Daily Trend/ Short term
GLW    Long Term/ Intermediate Term/ Daily Trend/ Short term
GMCR Long Term/ Intermediate Term/ Daily Trend/ Short term
HFC Long Term/ Intermediate Term/ Daily Trend/ Short term 
KORS Long Term/ Intermediate Term/ Daily Trend/ Short term
LCC  Long Term/ Intermediate Term/ Daily Trend/ Short term
LNKD Long Term/ Intermediate Term/ Daily Trend/ Short term
LEN  Long Term/ Intermediate Term/ Daily Trend/ Short term
MCD Long Term/ Intermediate Term// Daily Trend  Short term
MELI Long Term/ Intermediate Term/ Daily Trend/ Short term
NOV  Long Term/ Intermediate Term/ Daily Trend/ Short term
ORB Long Term/ Intermediate Term/ Daily Trend/ Short term
P      Long Term/ Intermediate Term/ Daily Trend/ Short term
PAA  Long Term/ Intermediate Term/ Daily Trend/ Short term
PG  Long Term/ Intermediate Term/ Daily Trend/ Short term
PPP   Long Term/ Intermediate Term/ Daily Trend/ Short term
QCOM Long Term/ Intermediate Term/ Daily Trend/ Short term
RAX  Long Term/ Intermediate Term/ Daily Trend/ Short term
SLB Long Term/ Intermediate Term/ Daily Trend/ Short term
WAG  Long Term/ Intermediate Term/ Daily Trend/ Short term
WFM Long Term/ Intermediate Term/ Daily Trend/ Short term
Z  Long Term/ Intermediate Term/ Daily Trend/ Short term

Short ETF's

        SPXU (2X Short S & P)  Long / Intermediate / Daily / Short
        SJB (Short High Yield bonds) Long / Intermediate / Daily/  Short
        VIXY (Short term VIX futures) Long /Intermediate / Daily/  Short
        FXP (2X Short China)              Long / Intermediate / Daily / Short