The equities markets are higher this morning, with all major indexes on the plus side, with the exception of the financial, which are off a couple of ticks. The Dow continues to be the strongest, up .35% vs .25% for the SPX The bond market continues to take serious hits, with the long bond down again, trading at 4.54%, and the 10 year down, trading at 3.49% 10s30 spread continues to flatten, now at 105 bibs. However, we notice the decline in bonds is losing strength, and may be nearing a bounce... but not quite yet. Oil is at 91.18, off .31 and Gold is at 1,407.3, up 1.70. The Euro is up a couple of ticks at 1.31, while the Dollar 80.13, down .18. The Yen continues to strengthen against the Euro and the Dollar.
Our Proprietary Momentum Change indicators continue to hold the SPY Buy signal, and after 2 days of teetering, is today strengthening. It is looking like the Year End rally will hold through the New Year. Our Sell signal in the FXE remains in effect, although the trend is losing strength. Our Buy signal in the Dollar, trading the UUP, is beginning to look a little ragged, and we are watching closely for a momentum change. The down trend seems to be strengthening. Our Buy signal for Oil continue strong, with the trend strengthening, however price is nearing trend resistance line. Price maybe in for a little back and forth shortly.
Enjoy the Year End rally, and get ready for the fireworks next year. We will be ready to trade either side of the market with the same enthusiasm.
Best to Your Trading!
Bill
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