Strangest thing I read today – Hanjin Shipping, the largest cargo shipping firm in South Korea, has filed for bankruptcy protection, and the move has stranded 85 cargo ships from Hanjin’s fleet floating in international waters, unable to unload their cargo and even running out of food:
- Business Insider – The ‘ghost fleet’ of cargo ships with nowhere to go could make Christmas more expensive
ZeroHedge has a slightly more entertaining take on the situation:
- ZeroHedge – “It’s Bordering Chaos”: $14 Billion In Cargo Stranded At Sea, Crews “Go Crazy” On Hanjin Ghost Ships
You have to feel bad for the crews on these cargo ships – anyway, the markets are down right now – let’s take a look:
The following table is based on the Z Option Market Analysis Tool – which determines if a market is trending by assigning a trending score from -3 to +3. This helps us keep our trading with the trend.
| Symbol | Description | Short Term Trend | Medium Term Trend |
| $DJI | Dow Jones Industrial Average | -2 | 1 |
| SPX | S&P 500 INDEX | 3 | 3 |
| RUT | RUSSELL 2000 INDEX | 3 | 3 |
| NDX | NASDAQ-100 INDEX INDEX | 1 | 3 |
| VIX | CBOE MARKET VOLATILITY INDEX | -3 | -3 |
| /ZB[Z6] | 30-Year U.S. Treasury Bond Futures,ETH | -3 | -2 |
| /ZN[Z6] | 10-Year U.S. Treasury Note Futures,ETH | -3 | -3 |
| /GC[Z6] | Gold Futures, ETH | 3 | 3 |
| /CL[V6] | Light Sweet Crude Oil Futures,ETH | 3 | 3 |
| /DX[U6] | US Dollar Index Futures | -3 | -3 |
| $DJT | Dow Jones Transportation Average | 3 | 3 |
| XLK | SELECT SECTOR SPDR TRUST TECHNOLOGY SELECT INDEX | 1 | 3 |
| XLI | SELECT SECTOR SPDR TRUST INDUSTRIAL SELECT INDEX | 1 | 3 |
| XLY | SELECT SECTOR SPDR TRUST CONSUMER DIS SELECT INDEX | -3 | -2 |
| XLB | SELECT SECTOR SPDR TRUST MATERIALS SELECT SEC INDEX | 1 | 3 |
| XLE | SELECT SECTOR SPDR TRUST ENERGY SELECT INDEX | 3 | 3 |
| XLP | SELECT SECTOR SPDR TRUST CONSUMER STAPLES INDEX | -3 | -2 |
| XLV | SELECT SECTOR SPDR TRUST HEALTH CARE SELECT INDEX | -3 | -2 |
| XLU | SELECT SECTOR SPDR TRUST UTILITIES SELECT INDEX | 2 | -1 |
| XLF | SELECT SECTOR SPDR TRUST FINANCIAL SELECT SECTOR FUND | 3 | 3 |
Any market showing a 3 or a -3 is trending strongly – and should be factored into any options strategy you are contemplating.
Stocks are treading water – at very high valuation levels. Oil and Gold seem to be on the rise – but Bonds have rolled over along with the Dollar.
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