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ON THE MARKET - Euro at Cycle lows

Tuesday 12-13-2011


Dr. John L. Faessel


Commentary and Insights


Quote of the day

Jon Corzine always “the smartest guy in the room”

~ Joe Biden ~

Corzine’s MF Global, has managed to misplace $1.2 billion*


Euro at Cycle lows


For Football Blow Your Mind...

Yes, Robert Griffin won the Heisman, but ck out this 19 year old sophomore:

You tube of Ronnie Hillman “The Second Coming” (of Marshal Faulk) came in 3rd in the nation in rushing (was hurt (ankle) for 2 games too and carried just a few times)


Ruling the MARKET - Again: “From a technical perspective the key declining Tops line resistance at (SPX) 1263ish that comes off last July's top tick will be the overriding wall of resistance.”

Correspondingly the lower trend line off “the” lows of 10/4 and 11/28 is at (SPX) 1189.


The Markets Drivers > EuroLand Bond Yields

Italy 10-year (gross) bond yield – 6.58% off from 7.26% on 11-24

Spanish 10-year (generic) bond yield – 5.67% - off from 6.7% on 11/24


Horrible Data points of note:

"As caseloads for all the government programs have soared, so have costs. The federal price tag for Medicaid has jumped 36% in two years, to $273 billion, jobless benefits have soared from $43 billion to $160 billion. The food stamps program has risen 80% to $70 billion. Welfare is up 24% to $22 billion."



The (SPX) closed on Monday at 1236.47


Short term support in the S&P 500 (SPX) is at 1229 and 1227

(SPX) support at the August 8th lows is at 1101.

Support at the October 4th lows is at 1074.

50-day moving average support is at 1222


Short term price resistance is at S&P 500 (SPX) 1258

Then at 1267

The 200-day moving average resistance is at 1262.

Price resistance at the top- tick of the near four month old consolidation is at 1292 then at 1277.


Monday’s key indicators and metrics:


·     McClellan Oscillator is Neutral @ minus 47        

·     VIX – 25.67

·     Euro – 1.3186

·     Gold (COMEX) $1668.2

·     Swiss Franc – 1.0675

·     The Treasury 10-year yield 2.01%

·     Crude oil (NYMEX) $97.77

·     CBOE Put / Call Volume Ratio – 0.89

·     Aussie Dollar – 1.0056

·     US Dollar Index – 79.58

·     3-month $ LIBOR at 0.546

·     Copper – 3.4640

·     Silver (COMEX) 30.989

·     Brent Crude $108.34

·     Canadian Dollar – 0.9741

To see my comments on Star Scientifics’ patent application; CIGX - Science, Law and Credentials and Unfathomable Market Potential:


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