After rallying a few weeks ago, oil sold off near the 200 day EMA. Now, prices are resting on the 50 day EMA. Note the bearish developments in the technicals: the MACD is about to give a sell signal, while the CMF is dropping.
After dropping about 27.5% (from 69 to 50), prices in the Brazilian market has bottomed and is currently trading in about a 10% range. Note the rising MACD and CMF, indicating both positive momentum and increased volume flow.
The Spanish (top chart) and Italian (bottom chart) markets are in the same position as Brazil's. Both have bottomed after a fairly severe drop.
Both the IEFs and the TLTs are right at support. A move lower will be a key development for the markets to move higher; it's more or less mandatory at this point.
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.