The Golden Sunrise
The essential morning read for investors!
Golden Sunrise is the Golden Surveyor’s broad-based market and world view.
Written daily 4am-7am by markets information specialist GS John!
Today’s Golden Sunrise
Monday, Jun 14, 2010
Hours of daily research consolidated for you
Turning Point?
|
Market |
4-Jun |
11-Jun |
ChangeWK |
%changeWK |
ChYTD |
%ChYTD |
|
Japan-Tpx |
890.16 |
866.44 |
-23.72 |
-2.665% |
-41.15 |
-4.534% |
|
HongKong |
19,780.07 |
19,872.58 |
92.51 |
0.468% |
-1544.42 |
-7.211% |
|
Shanghai |
2553.59 |
2569.94 |
16.35 |
0.640% |
-693.06 |
-21.240% |
|
Taiwan |
7344.59 |
7299.49 |
-45.1 |
-0.614% |
-812.51 |
-10.016% |
|
South Korea |
1664.13 |
1675.34 |
11.21 |
0.674% |
42.34 |
2.593% |
|
Australia |
4449.4 |
4505.5 |
56.1 |
1.261% |
-327.5 |
-6.776% |
|
Singapore |
2,806.51 |
2,796.29 |
-10.22 |
-0.364% |
-83.71 |
-2.907% |
|
India |
17,117.69 |
17,064.95 |
-52.74 |
-0.308% |
-279.05 |
-1.609% |
|
|
|
|
|
|
|
|
|
UK-FTSE |
5126 |
5163.68 |
37.68 |
0.735% |
-274.32 |
-5.045% |
|
Germany |
5938.88 |
6047.83 |
108.95 |
1.835% |
35.83 |
0.596% |
|
France |
3455.61 |
3555.52 |
99.91 |
2.891% |
-404.48 |
-10.214% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DJIA |
9,931.97 |
10,211.07 |
279.1 |
2.810% |
-216.98 |
-2.081% |
|
S&P500 |
1064.88 |
1089.41 |
24.53 |
2.304% |
-43.58 |
-3.846% |
|
NasComp |
2219.17 |
2257.64 |
38.47 |
1.734% |
-50.36 |
-2.182% |
|
NDX100 |
1832.04 |
1852.39 |
20.35 |
1.111% |
-34.61 |
-1.834% |
|
R2000 |
633.97 |
649 |
15.03 |
2.371% |
8.9 |
1.390% |
|
NYSE |
6600.27 |
6814.76 |
214.49 |
3.250% |
-512.24 |
-6.991% |
|
Tran |
4157.17 |
4319.88 |
162.71 |
3.914% |
188.88 |
4.572% |
|
Util |
354.27 |
367.77 |
13.5 |
3.811% |
-31.23 |
-7.827% |
|
|
|
|
|
|
|
|
|
Canada-TSX |
11,569.61 |
11,666.92 |
97.31 |
0.841% |
-35.08 |
-0.300% |
|
TSX Venture |
1464.92 |
1460.79 |
-4.13 |
-0.282% |
-93.21 |
-5.998% |
|
Brazil |
61,675.38 |
63,605.38 |
1930 |
3.129% |
309.38 |
0.489% |
|
|
|
|
|
|
|
|
|
Gold |
1217.7 |
1230.2 |
12.5 |
1.027% |
133.2 |
12.142% |
|
Silver |
1729.9 |
1822 |
92.1 |
5.324% |
127 |
7.493% |
|
Copper |
281.25 |
290.4 |
9.15 |
3.253% |
-42.6 |
-12.793% |
|
Crude Oil |
71.51 |
73.78 |
2.27 |
3.174% |
-2.22 |
-2.921% |
|
Natural Gas |
4.797 |
4.781 |
-0.016 |
-0.334% |
-0.969 |
-16.852% |
|
CRB Index |
248.94 |
255.92 |
6.98 |
2.804% |
-29.08 |
-10.204% |
|
|
|
|
|
|
|
|
|
$index |
88.31 |
87.51 |
-0.8 |
-0.906% |
9.56 |
12.264% |
|
Euro |
1.1966 |
1.2075 |
0.0109 |
0.911% |
-0.2216 |
-15.506% |
|
Yen |
1.093 |
1.092 |
-0.001 |
-0.091% |
0.0202 |
1.885% |
|
|
|
|
|
|
|
|
|
VIX |
35.48 |
28.79 |
-6.69 |
-18.856% |
7.11 |
32.795% |
|
VXN (Nas) |
34.16 |
28.80 |
-5.36 |
-15.691% |
7.15 |
33.025% |
|
VXV (S&P) |
34.37 |
30.95 |
-3.42 |
-9.951% |
7.06 |
29.552% |
|
RVX(R2000) |
43.67 |
37.15 |
-6.52 |
-14.930% |
9 |
31.972% |
The Market will Fluctuate-John Pierpont Morgan
You have to be born into a pretty rich family to have middle name like Pierpont bestowed on you. Mine is Robert. But that was the big banker’s response when asked about his outlook for Wall Street.
Coming from him that is wisdom..coming from most of us, it means we really don’t know. Not knowing is not necessarily a bad thing if it slows you down, let’s you contemplate, allows other points of view into our mindset and approach things more clearly.
Last week was pretty positive, all in all, but volume was really light. Bulls say that means the selling is drying up and bears are saying there is no new money coming into the market and no support for the action.
Opinions are all over the map, but the central theme seems to be that while I think up or down or sideways, my thoughts are not set in stone and I am ready to move either way as things unfold.
The market action is more positive than the news, some of which is dreadful. But the theory or, at least the publicity, says that the market is looking 6 to 9 months into the future and anticipating everything, then drops 300 points on a weekly jobs report and rises sharply on day when the retail sales number comes in at the worst level in a considerable length of time, the worst in 8 months with a decline of 1.2% such as was reported last Friday. Often 6-9 months seems to be consolidated into 6-9 minutes.
With the bulk of trading consolidated into the big pension and retirement funds, with portfolio managers turning the assets 2-3-4-10 times on money they tell you needs to be parked for the long run, and the algo driven hedge funds even more active, markets seem to be more short-term trading vehicles than investment venues.
Many of the multiple sources I read are talking about the first two trading days this week setting the tone for months to come. That said, US futures are up sharply, Europe very positive and Asia was solidly green. The Euro is up and gold is down a little.
A daily chart of the S&P with some H&S possibilities is shown below. Breaking the neckline gets pretty scary but the market testing some important lows a couple of time last week. The chart clearly illustrates the some key levels and where we are in relation to them. Harder to see but the index bounced right off an important Fibonacci level.
Mr. Market will be providing us all with some education and information over the new few days.
JohnR
Goldensurveyor.com
