23 Feb 2012

 Medium term stayed the same from yesterday.

 SP-500 in terms of TLO (long term treasury ETF) on the bottom.  "Risk on" is not really being priced into long term bonds.  Lots of fresh money with nowhere to go may be the cause instead of fear.  Either way, the ratio is showing an extreme divergence between it and the SP-500.

 VIX is still heading back to its "new normal" level.  Notice the old normal level is a few dollars below.  The divergence still persists between SP-500 in VIX units and the SP-500 itself.

Pretty hard and fast bounce on my short term index. 

 Dollar sitting on 500 day moving average (light blue) as well as ascending white trendline.

Although nice, I don't consider today's move in silver a break in the red trendline.  In my opinion (which has lost credibility the last few weeks), it seems to have happened as the rally was already a bit too mature.  Stochastics are overbought again. TSV doesn't show that it is dear or cheap.  If you remember, I still maintained that it might trace back to the light blue trendline or its 61.8 retracement line which is sitting around 25.

"Impossible is a word to be found only in the dictionary of fools."
Napoleon Bonaparte