Monday, January 06, 2014 Zeb’s VUE

General Information and Analysis

US

Comment for 1/6/2014	Measure	Indicator	Ranking
Weekly RSI	WeeklyRSI	74.4	OverB
Long Term MVA (200 day MVA)	200 MVA	9.32%	Bull
5 Day Slope of 55 day MVA	Slope55MA	0.62%	Bull
Intermediate Trend (Using ADX)	ADX(14)	19.82	Neutral/Chop
Short Term Trend (Daily RSI 3)	RSI(3)	34.14	Neutral/Bear
Relative Volatility	ATR(90)	0.78%	Normal
VIX - MACD 10/30 (slope down)	MACD	0.05	Neutral/Bull
The intermediate and long term trend is up.  Short term - neutral to bull

The intermediate and long term trend is up.  Price is indicating the long-term trend of bullish conditions is re-asserting itself.

The table above is a rating for intermediate and long term trend in the S&P500.  I used the S&P 500 as the indicator for the USA stock market.  For day traders: You may find it useful to trade in the direction of the trend.  However, looking at any daily chart over lots of years, the trading direction for the day is pretty random. 

S&P PIVOT ES Mini - Friday - Useful on Monday 1/6/2014

High	1833.00
Low	1820.50
Close	1825.50
R2	1839.00
R1	1832.50
Pivot	1826.50
S1	1820.00
S2	1814.00

Stocks –

Zeb’s View:  

 

I'm late today, after having a difficult time sleeping last night.  That is probably because the 49ers won in Green Bay, and that could mean the Seahawks will have to face them again.

Friday's trading was a choppy day.  Day-traders likely had a very difficult time.  It would be interesting to hear if any day-traders made money on Friday.

The first 2 days of trading in 2014 are in-conclusive.  The common wisdom in the market is that the 1st 5 days of the year set the tone for the market for the rest of the year. So far, then, there is no direction that is conclusive. 

Overnight, the futures markets in the USA are up.  DOW, S&P500, and Nasdaq are all up.  This is a modest rebound from 1/2.2014's loss.  There is very little news to make the market bullish.

Asian markets closed lower as weaker-than-expected services PMI for China was reported.  Japan's Nikkei fell 2.4% (or so).  

European markets (on the whole) are up slightly.