UTIL is 472.78, a 472 handle, but still above the critical 468-469 bull-bear line in the sand, bullish. JJC is flat at 47.25, bullish. The 8 MA fell under the 34 MA on the SPX 30-minute chart signaling bearish markets for the hours and days ahead but this may whipsaw today. The 8 and 34 MA's are at 1519-ish so as long as the SPX stays below 1519, the bears will stay in the game going forward. A move above 1519 will curl the 8 MA back upwards and send it higher to signal bullish fun again. The M&A activity this morning, with the American and U.S. Air airline deal, and the Warren Buffett HNZ deal, helped paint a rosier picture on today's action. The M&A deals will suck up some of the cash sloshing around in the system. The TRIN is 0.76 uber bullish so it is surprising to not see the SPX far higher.
The 10-year yield is 2.03% remaining above 2%. The equity bears will not gain traction lower unless they see the yield falling under 2%. The euro is 1.3331, a palindrome. The 1.3275 level is very strong support, the 1.33 serves as a psychological support level. As long as the euro stays above 1.3330, the equity markets will remain buoyant, if 1.3330 fails, additional broad market weakness will develop. Crude oil is 97.42. Folks are going to start marching with torches and pitchforks as they see the gasoline price sky rocket. RTH is weak today as the realization sets in that gasoline money is more important than sweater money when addressing the family budget.
Note Added 2/14/13 at 10:38 AM: The SPX is inching higher now moving towards 1520 and recovering, due to the low TRIN, now at 0.71. Bears do not have a chance with a TRIN at 0.71. Interestingly, JJC leaks a touch lower, and UTIL just printed a low at 472.06. The bears need to spank the SPX down right away, otherwise, the bulls will march things higher all day long.
Note Added 2/14/13 at 10:57 AM: UTIL has a 471 handle, isn't that interesting? The SPX is over 1520 trying to recover, and is printing positively for a few minutes. TRIN is 0.80, firmly bullish but the bears are trying to pull it higher. JJC 47.17. Euro 1.3341. It's all about the TRIN today.
Note Added 2/14/13 at 11:29 AM: UTIL just lost 471 and is printing a 470 handle now at 470.90. The SPX remains elevated; the bulls handily keeping the broad indexes buoyant with the 0.83 TRIN. JJC is 47.09. Euro is 1.3332 coming down to test the 1.3330 discussed above. The 10-year yield is 2.03%. The 8 MA remains under the 34 MA on the 30-minute chart.
Note Added 2/14/13 at 11:40 AM: Euro is 1.3328 dipping below 1.3330. This is quite a bull-bear struggle today. UTIL is 470.80, now only one single point away from a critical bull-bear line in the sand at 469.78 that will create broad market weakness. TRIN 0.81. RUT is 922 so the bulls have small caps and the TRIN on their side today.
Note Added 2/14/13 at 2:19 PM: UTIL came down to fall through 469.78 but recovered. The TRIN is 0.84 so the bears got nothing. Note that during the selling a short while ago, the TRIN moved up to 0.98 (helping bears) but collapsed. JJC is 47.18. Euro 1.3340. VIX is 12.70 showing no life today helping the bulls. The SPX is printing 1522 which would serve as a right shoulder for an H&S. The 8 MA moved back above the 34 MA on the 30-minute chart at 1 PM signaling bullish markets for the hours and days ahead, taking this back from the bears and creating today's buoyancy. Watch to see if the bears can turn it back down into the closing bell. The beat goes on today. Markets are in a sideways malaise. The 10-year yield is 2.00%.
Note Added 2/14/13 at 2:44 PM: Whoa, huge TRIN spike to 0.95. Then back down to 0.79 a few minutes later. Shaky markets. Watch your wallet.
Terimakasih anda telah membaca artikel tentang Keystone's Midday Market Action 2/14/13. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://tradeepected.blogspot.com/2013/02/keystone-midday-market-action-21413.html. Terimakasih atas perhatiannya.