A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Nothing like a morning workout to get the juices flowing.
SPXBearish long day (failed to confirm hammer). Midpoint above EMA(10). Still above all SMA's. No test of 0.0% retrace (1370.58). Tested and failed 14.6% retrace. No daily 3LB changes (reversal is 1347.24). QE2infinity. "JBTFD. Don't question it. Just do it. Trust me."
DXYDoji day. Midpoint below EMA(10). Made a new 0.0% retrace (72.70). Below all SMA's. No daily 3LB changes (reversal is 73.84).
VIXBullish short day (possible shooting star). Midpoint above EMA(10). Still above SMA(21). Now above its 14.6% retrace (16.75). New high on daily 3LB (reversal is 14.69). Still deep in the "no fear" zone.
GOLDBearish long day. Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Still above all SMA's. Tested and held its 23.6% retrace (1514.39). No daily 3LB changes (reversal is 1557.10). Holding above upper trend line. Must have the precious.
EURUSDDoji day again. Midpoint above EMA(10). Still holding above the 85.4% retrace (1.4640). Still above all SMA's. No daily 3LB changes (reversal is 1.4721). Decision has to be made sometime fellas.
JNKHammer day (failed to confirm bullish harami). Midpoint below EMA(10). Still above all SMA's. No test of 0.0% retrace (40.93). Tested and held its 23.6% retrace (40.61). New low on daily 3LB (reversal is 40.90).
10YR YIELDBearish long day. No test of 0.0% retrace (37.44). Still below all SMA's. Midpoint below EMA(10). Tested and failed the 14.6% retrace (32.29). Now failing the upper trend line. New low on daily 3LB (reversal is 32.96).
WTIBearish long day. Now below SMA(21). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Tested and held its 23.6% retrace (108.56). No dally 3LB changes (reversal is 106.84).
SILVERBearish long day. Still below SMA(21). Midpoint below EMA(10). Holding upper trend line. Tested and failed its 38.2% retrace (40.82). New low on daily 3LB (reversal is 48.60). Also now below its weekly 3LB reversal price. ""You want the delivery! You can't handle the delivery!"
CRBBearish long day. Midpoint below EMA(10). Back below SMA(21). Tested and failed its 23.6% retrace (362.87). Daily 3LB reversal down (reversal is 370.56).
DJ TRANS AVGBearish long day. Still above all SMA's. Midpoint above EMA(10). Holding above the lower trend line (for now). Daily 3LB reversal down (reversal is 5514.87).
WORLD WIDE PREMIERE JULY 1, 2011
9 comments:
Re: $TNX - The monthly candles on a ten year history of this are worth a look. I'd say yields are headed lower based on the technical pattern.
I'm long overdue for visit to the 10 year note charts....
Perfect...
I got a house to sell...
File this one under "other super important" things...
Man Shaves Beard After 10 years:
http://www.komonews.com/news/local/121107609.html
Heard a stat today that the 3 out of 5 Men are now sporting facial hair. It's the highest number in decades....since the 70's....
Talk about your cyclical trends.
Note: I've had a beard 61.8% of my adult (post-21 years old) life.
Andy T
I was just looking at the 30yr Bond. Somebody is buying as it had a weekly 3LB reversal up last week.
The long bond might be a crowded trade. I'll take a look at it tomorrow if I find some time away from the trails.
Also, I noticed that the Aaa Baa corporate spread has pretty well collapsed. It looks about average on a 10-year chart (if you strip out the late 2008 spike); however, in this new age of monetary insanity, the thin spread indicates a certain temerity in the fixed income markets.
I don't think that any of the high yield or lower investment grade spreads adequately compensate for the risk in these securities.
In the equity world, it seems to me like a lot of big guns are pulling the trigger on consumer non-cyclicals. These names are probably getting the rotation out of emerging markets.
My cash position is irritatingly large; not for fear of volatility, but for lack of securities that offer a risk premium that reflects economic prospects.
Commodities are a bit too... effervescent for my taste. It looks like selling my silver on Friday was a lucky local top pick (we'll see soon enough). I'd like to see a nice healthy pullback in precious metals and then add to my platinum position.
AT,
that's really interesting on the beard, I'd like to say Im running with the herd as I've been keeping a beard way more often than not lately, but I think deep down I just admire the Wizard so much that I don't shave.
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