Creditcane™: The bears feasted. And it was good.
SPXBearish long day. Midpoint below EMA(10). Tested and held SMA(21). Failing the 0.0% retrace (1419.15). Tested and failed the lower trend line. No daily 3LB changes (reversal is 1392.78). QE2infinity.
DXYBullish long day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (79.60). Tested and held SMA(21). New high on daily 3LB (reversal is 78.82).
VIXBearish short day. Midpoint above EMA(10). Tested and failed SMA(55). Holding above its 100.0% retrace (14.27). New high on daily 3LB (reversal is 14.26).
GOLDBearish long day. Midpoint below EMA(10). Failing its 50.0% retrace (1661.00). Now failing all SMA's. New low on daily 3LB (reversal is 1706.50). Now below monthly 3LB mid. Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Tested and failed SMA(55,89). Tested and failed its 50.0% minor retrace (1.3142). No daily 3LB changes (reversal is 1.3465).
JNKDoji day. Midpoint below EMA(10). Failing SMA(55). Failing its 38.2% minor retrace (39.62). New low on daily 3LB (reversal is 39.76).
10YR YIELDBearish short day. Still above all SMA's. Midpoint above EMA(10). Holding above its 50.0% minor retrace (22.11). No daily 3LB (reversal is 22.98).
WTIBearish long day. Tested and failed SMA(55,89). Midpoint below EMA(10). Tested and failed its 61.8% retrace (102.98). New low on dally 3LB (reversal is 108.37). Not confirming the monthly 3LB reversal down.
SILVERBearish long day. Now failing all SMA's. Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (32.01). Daily 3LB reversal down (reversal is 33.26).
BKXBearish short day (confirmed hanging man). Midpoint below EMA(10). Tested and held SMA(21). Tested and failed its 38.2% minor retrace (49.10). Daily 3LB reversal down (reversal is 50.26).
HYG/LQDBearish short day. Tested and failed SMA(55,89). Midpoint below EMA(10). Holding above its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7953).
AAPLHanging man day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 0.0% retrace (621.45). No daily 3LB changes (reversal is 599.55).
TLTBullish harami day. Midpoint below EMA(10). Still failing SMA(21). Holding above its 38.2% retrace (110.33). No daily 3LB changes (reversal is 117.50).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
Nice ass ripper move in the DXY.
It stopped right at the 61.8% retrace of the last wave down ... shocker.
I'd still stay away from all gold and dollar trades right now. Those were weird moves the last 48 hours.
SP500 trying to "hang on" to key support...it looks a bit ominous, but we need to see it finally take out some chart support first....1386.
Well the SPX still hasn't tested its daily 3LB reversal price. So the bears need to tread carefully until some reversals appear.
Still not a peep out of BB. The market might be realizing that his resolve can't be broken.
No one trading today? Early vacation?
AmenRa - I think people are getting a jump on Easter and doing some "Power Repenting" so the Easter Bunny will bring them an extra big chocolate egg.
Mutt
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