Mlcx Biofuels Index Tr Etn (FUE) goes negative by breaking below intraday moving average 2013/01/03 16:21

The intraday price for Mlcx Biofuels Index Tr Etn has moved below its 200 period 30 minute moving average of 11.38. FUE is around 11.25 bucks now. Going below the moving average deepens the negative trend.

The price is already below support of $11.47.

Other stocks to watch – these have a positive correlation with Mlcx Biofuels Index Tr Etn:

(IJ9W) with a correlation of 97.43%

Mckesson Corp. (MCK) with a correlation of 97.96%

Senbanc Fund Of The Rbb Fund Inc (SENBX) with a correlation of 97.85%

TEPAX (TEPAX) with a correlation of 97.43%

30-Day Fed Funds {Dec 11} (ZQZ11) with a correlation of 97.43%

For the math geeks and quants – the most recent Slope: -0.09 Intercept: 11.47 close: 11.25