Thursday, May 13, 2010

Index Data and Observations

Closing values for Thursday, May 13, 2010:

(Previous day's quotes are in parentheses.)

S&P 500 Über-Indicator:

.6697 (.6701)

Trend & Value 50:

1054.20 (1064.14)

China Small Cap ADR 25:

849.13 (854.80)

Precious Metals Complex:

5297 (5372)

Commodity ETFs:

2020 (2035)

BRIC Basic Materials:

959.02 (972.36)

Penny Banks:

1250.84 (1276.97)

Foreign Blend:

7114 (7202)

General Liquidity:

1019.81 (1025.20)

S&P 500 Momentum Composite:

2.87 (7.46)

S&P 500 Breadthalyzer:

.069 (4.85)

S&P 500 Relative Volatility:

3.04 (4.89)

S&P 500 Notional Volume:

$111,269,156,097 ($122,379,510,496)

S&P 500 Notional Advance:

-$1,372,386,676 ($1,317,466,462)


A down day for sure. Unless you are a fan of worthless U.S. Dollars, as the currency presses once again on my resistance zone. I had down 84.73, I think, on the Dollar Index, and we are somewhat above 85 now for the second occasion in recent memory. a further push for the dollar now would certainly indicate an acceleration in the time line of the inevitable contraction.

Nobody likes a contraction. But without them babies would never be born.

But a denial for the dollar to the upside right now would target about 80.5 on the retracement and signal a more extended consolidation, as I had in mind -- at least up until today.

The stock markets look shaky in terms of the daily charts. However, volume came in low today, so in a sense, today could be seen as a wash or negation of yesterday. Nothing more, nothing less.

Numerology inspires me to look for one more top higher in the S&P at 1262 before the sky comes tumbling down. But numerology can be put to better use while blogging than in the act of portfolio management. And besides, such a target doesn't preclude another down-wave in the nearish future.

In the event that this whole thing turns into a rout, as in a broad-based liquidity contraction, the first place I will be looking for bargains is in the U.K. I wouldn't buy into anything British just yet, it's too early I think, but I like the style of the new Government so far. I have panned Britain plenty over the years, but I sense at least a temporary turnaround in the works. At least the potential is there now, when it wasn't before.