A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
"Looks like I'll be having another weekend bender."
Creditcane™: Got jumped by Wall Street in a dark alley…again.
SPXHanging man day. Midpoint above EMA(10). Still above all SMA's. Holding above trend line (3/6/09-7/1/10). Holding the 38.2% minor retrace (1314.25). No daily 3LB changes (reversal is 1353.22). QE2infinity. Will the hanging man be set free?
DXYBullish harami day. Midpoint below EMA(10). Tested and failed the 38.2% minor retrace (74.40). Still below all SMA's. Tested and failed its weekly 3LB mid. No daily 3LB changes (reversal is 75.99).
VIXBullish short day. Midpoint below EMA(10). Still below all SMA's. Failing its 38.2% retrace (20.28). Tested and held its 38.2% minor retrace (17.51). No daily 3LB changes (reversal is 21.32). Has yet to be paroled from the "no fear" zone.
GOLDBullish long day (didn't confirm bearish engulfing). Midpoint above EMA(10). Tested and failed its 0.0% retrace (1607.90). Still above all SMA's. New high on daily 3LB (reversal is 1589.30). Holding above upper trend line. Must have the precious.
EURCHFSpinning top day. Midpoint above EMA(10). Holding its 0.0% retrace (1.1467). Tested and held its 38.2% minor retrace (1.1726). Failing all SMA's. New high on daily 3LB (reversal is 1.1509).
JNKHanging man day. Midpoint above EMA(10). Still above all SMA's. Holding its 61.8% retrace (40.20). Failed test of 38.2% minor retrace (40.45). Held trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.86).
10YR YIELDBearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Failed its 50.0% minor retrace (29.87). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).
WTISpinning top day. Tested and held SMA(55). Midpoint above EMA(10). Still holding its 38.2% minor retrace (97.98). New high on dally 3LB (reversal is 97.25).
SILVERBullish short day (possible bullish harami - ruh roh?). Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Failing its 38.2% retrace (40.69). No daily 3LB changes(reversal is 38.15).
BKXHanging man day. Midpoint above EMA(10). Tested and held SMA(21). Held its 38.2% minor retrace (47.20). No daily 3LB changes (reversal is 48.32). Closed week with a weekly 3LB reversal up.
HYG/LQDBearish short day. Tested and failed SMA(233). Midpoint above EMA(10). Failing its 50.0% retrace (0.8259). No daily 3LB changes (reversal is 0.8329).
RBOB GasolineBullish short day. Midpoint above EMA(10). Above all SMA's. Failing its 38.2% minor retrace (3.15). No daily 3LB changes (reversal is 2.98).
IT HAS BEGUN. BE WARNED.
Diver almost eaten by a whaleshark (freaky)...
26 comments:
Friday afternoon...and grand marnier aside....
Many thanks to AmenRa, Andy, CV, Ben, many Q's, McHappy, Bruce, Mark, LB, etc. and et al...for news, views, charts, trade skills links, and solid 3 IQ points combined with right and left brains rubbing up against various idiosyncratics, steeper learning curves...and all that might make a blog worth revisiting.
Now, if only, those pretty ankles deigned to make a return.
Weekly 3LB Update 7/22/11
@Amen
The thrust (on Ag) up over the 89ma came exactly 55 candles after the April peak... Interestingly, the first big wave down from those highs had a cloing right on the 89ma (before blowing thru it)... Now it's back up over, & has (kinda tested it twice - if one is flexible about how that looks...
The 10ma has crossed back up over most of the other ma's...
If expand the chart just a smidge... Keep in mind that as we speak, we're just about 89 days since the the March 15 low (which was similar in nature as it being in front of a comex options expiry)... The next 30 days were nothing short of breathtaking...
30 trading days, from here, takes you right into Labor day weekend (ours)... Of course, May 1st is Labor day in most of Europe & Russia (as I've pointed out numerous times)...
---
Since Andy is out of town... I may put up a chart on Sunday...
"There is nothing wrong with America that cannot be cured with what is right in America."
-ex-POTUS (where "p" stood for "perjurer")
@CV
how do you think Tampa Bay will be this year?
@ben
Tampa Bay
I think they have a solid team... Josh Freeman is a QB who seems to have the knack for always keeping them in games & giving them a chance to win... Plus, LaGarrett Blount is a beast & the guys seem to like playing hard for Rasheem Morris...
Obstacles?
- For some crazy reason, their home record sucks...
- Also, they're in the NFC South (which means they have to play the Saints & Falcons twice)... I think the Saints will be better than last year (they may even be my 2011 pick for NFC to go to Super Bowl)... I think the Falcons will actually have a worse record than last year...
- Problem 2 is that that division has to play the NFC North this year (meaning games vs. high powered detroit Lions offense, AT the Packers, Bears, & AT Minny, they also play Indy)... So let's say they split all those games (which STILL would be pretty good... That would make them 11-5 AT BEST (assuming they 'run the table' with the rest of their games)...
- So more likely, they're looking at another 10-6 season... Last year they went 10-6 an didn't even make the playoffs (& they luckily got to beat up on the hapless NFC West & also got to play Cincy & Cleveland...
Bottom Line:
They will improve as a football team, but they have their work cut out for them...
you know, this is a really good ex. of "Why the NFL 'Talks' will be resolved" ...
could you imagine how many 'Man Hours' would be 'freed up' if the NFL Season didn't happen (?)
peep, under that Scenario, just, might 'take the Time' to figure out ~"How, and by Whom, they're being 'Rodgered' (??)"
That. of Course, as is said, "Would be 'Bad for Business'" ~
AAIP
@AAIP
ben will verify this (from an e-mail I sent him - but also I think somewhere on this blog, several weeks or months ago - I mentioned the same)...
"That the NFL labor dispute, would, miraculously be resolved on or about July 22nd"...
Voila!
---
What is the REASON for cv's miraculous insight?
Fucking LAWYERS...
This bullshit could have been resolved over a beer back in March... But NO... These greedy fuckers, well, u don't think they're going to leave even a MORSEL of "billable hours" on the table, do you??? So they take BOTH SIdES for a ride for 4 an a half months, collect their fees...
And now??? Well - it's PERFECT timing to wrap it all up in time to join the party in the Hamptons with Ritholtz, the bankers, & other clansmen...
---
I'm sorta getting tired of pointing out to 'some', these facts (not singling YOU out here)...
But whatever... people can live in their little politically correct fantasy worlds all they want...
---
As for the NFL Season "not happening"... Well obviously I knew that that was never in danger... Nor ever will be... The only ones ever holding THAT hostage, were... yup... you guessed it...
Spaniard! Spaniard!
What do you want?
Girl? Boy?
You sent for me.
Yes, I did.
You're good, Spaniard,
but you're not that good.
You could be magnificent.
I'm required to kill, so I kill.
That is enough.
That's enough for the provinces,
but not for Rome.
The young emperor...has arranged
a series of spectacles...to commemorate his father...
Marcus Aurelius.
I find that amusing...
since it was Marcus Aurelius--
the wise, the all-knowing Marcus Aurelius--
that closed us down.
So, finally, after five years
of scratching a living...in flea-infested villages...
we're finally going back
to where we belong--
the Colosseum.
Oh, you should see
the Colosseum, Spaniard.
Fifty thousand Romans...
watching every movement
of your sword...
willing you to make
that killer blow.
The silence before you strike...
and the noise afterwards.
It rises.
It rises up like--like a storm...
as if you were
the thunder god himself.
You were a gladiator?
Yes, I was.
You won your freedom?
A long time ago, the emperor...
presented me with a rudis.
It's just a wooden sword. The symbol of your freedom.
He touched me on the shoulder,
and I was free.
You knew Marcus Aurelius?
I did not say I knew him. I said
he touched me on the shoulder once.
You asked me what I want.
I, too, want to stand
in front of the emperor... as you did.
Then listen to me. Learn from me.
I wasn't the best
because I killed quickly.
I was the best
because the crowd loved me.
Win the crowd...and you'll win your freedom.
I will win the crowd.
I will give them something
they've never seen before.
So, Spaniard,
we shall go to Rome together...
and have bloody adventures...
and the great whore
will suckle us...
until we are fat and happy
and can suckle no more.
And then...
when enough men have died...
perhaps you will have your freedom.
cv--
I caught that POV, of yours, before..
(alluded to, here July 24, 2011 2:33 PM)
Quite so!~
and, yes, much (too much) like the Romans..
AAIP
Charts...
Cotton bitchez!
http://www.youtube.com/watch?v=C1d0c0UHAL0&feature=related
Gold onwards and upwards...
SPX backwards and downwards :P
Back from Reno, NV.
It's interesting to think about how those two cities, Reno and Las Vegas, developed and diverged in the last 20 years.
Reno just sort of stagnated and atrophied...while Vegas went bezerk.
The summer weather is sooooo much nicer in Reno....
CV,
Thanks for that....so you think the Falcons will be worse, I was sort of thinking that too.
I did like the WR pick-up in Jones, think he could be a real solid compliment to Roddy White, the question for me is whether or not Michael Turner is going to be any good this year.
A couple of weeks ago the QOTD was from a song written by K. Krisofferson....
I have to revive that for another 24 hours becuase I actually SAW a K. Kristofferson "concert" this weekend.
I wasn't really that interested in it, but my wife's always been a big fan. "A Star is Born" is one of her favorite movies...I never saw it. When we walked into the Grand Sierra Resort Hotel and she saw he was on 'on the bill' for the weekend....it became a mandatory part of the schedule.
Anyway...the guy was interesting and pretty good. Certainly a "story teller" in the old tradition. All the songs were 3-4 minutes long and most had something powerful to 'say.' It was just him on the stage going acoustic with a harmonic. My wife loved it...
Pretty cool that some 70+ year old guy, who was never really know as a big musician or singer, can make some dough telling his stories....
Recommended.
I like the Bucs A LOT this year....
I really got a kick out of all the Business Insider breathless commentary about what kind of market collapse we would see on Monday because of the fucking retarded debt ceiling debates...
"C'mon Man!"
10-15 S&P pts???!!!?? Who cares.
I had no idea Amy Winehouse was only 27...she LOOKED soooo much older than. Drugs do age one prematurely...
Adele is pretty big right now on the radio....best selling record of the year. She probably wouldn't have had that kind of success, or had that kind of opportunity, without A. Winehouse ....
I hope for a huge drop tomorrow, there'll be something to buy
I agree AT the debt ceiling stuff is an effing joke
AT, I worked in Reno for about 2 years at the new ATCT(left last month) and the summer/end of summer months in Reno are fantastic. 10,000+ motorcycles gatherings, Hot August Nights, burning man party?, world BBQ cook-offs, concerts galore, air races, river festivals, Lake Tahoe, the list doesn't end. Never a dull weekend.
qqqq:
I've been going to Reno and Tahoe for a relatively long period of my life...it's an "under-rated" area of the country...
@ben
The Falcons struggle on the road... & now... Matty Ice doesn't even have that "streak" aura going in the Georgia dome (Saints beat them there at the end of the season, Packers whomped them in the playoffs, & even the Ravens almost beat them there on a short week Thursday game that even Roddy White admitted after that the refs 'handed' them...
Michael Turner is coming off 2 straight 400+ carry seasons...
That's murder on an NFL back...
Can you say LT? Priest Holmes? Larry Johnson? Chris Johnson?
The only one who ever had any durability with that kind of workload was Eric dickerson (who had a running style where he avoided direct hits)...
& don't tell me that Michael Turner is bigger & more powerful... He IS, but it doesn't make a difference... Larry Johnson was powerful too... & Peyton Hillis barely made it thru the season last year...
Frank Gore has NEVER made it thru a 16 game schedule...
The guy they'll BEAT UP this year will be Arian Foster...
They'd (Houston) better give Ben Tate some reps...
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