Creditcane™: FB can not, will not, never will save you from my wrath.
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Failing the 61.8% minor retrace (1343.55). New low on daily 3LB (reversal is 1338.35). QE2infinity.
Spinning top day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (81.50). Still above all SMA's. New high on daily 3LB (reversal is 80.61). Still above weekly 3LB mid.
Bullish long day. Midpoint above EMA(10). Now above all SMA's. Holding above its 38.2% minor retrace (21.62). New high on daily 3LB (reversal is 21.87).
Bullish long day. Midpoint below EMA(10). Failing its 61.8% retrace (1598.10). Failing all SMA's. No daily 3LB changes (reversal is 1584.00). Still below its monthly 3LB mid. Must have the precious.
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 0.0% retrace (1.2782). New low on daily 3LB (reversal is 1.2845).
Bearish long day. Midpoint below EMA(10). Now failing all SMA's. Tested and failed its 50.0% retrace (38.824). New low on daily 3LB (reversal is 39.23).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (17.76). New low on daily 3LB (reversal is 17.88).
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (94.65). New low on dally 3LB (reversal is 94.78). Still below the monthly 3LB mid.
Bullish long day. Still failing all SMA's. Midpoint below EMA(10). Failing its 61.8% minor retrace (30.00). No daily 3LB changes (reversal is 28.89).
Bearish long day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 50.0% retrace (43.76). New low on daily 3LB (reversal is 45.20).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (0.7592). New low on daily 3LB (reversal is 0.7841).
Bearish short day (inverted hammer…probably not). Midpoint below EMA(10). Failing all SMA's. Failing its 38.2% retrace (3.660). New low on daily 3LB changes (reversal is 3.554).
Bearish long day. Tested and failed SMA(89). Midpoint below EMA(10). Still failing its 61.8% minor retrace (563.20). New low on daily 3LB (reversal is 558.22).
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Holding above its 50.0% minor retrace (6.90). New low on daily 3LB (reversal is 7.35).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (30.39). New low on daily 3LB (reversal is 29.49).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
trend=up
high= 1650.04
rev= 1358.43; mid=1504.23
trend=down
low= 1181.05
rev= 1328.19; mid=1254.62
trend=up
high= 54.783
rev= 52.824; mid= 53.804
trend=no
direction=down (2 bars)
low= 0.7981
rev= 0.8765; mid=0.8373
15 comments:
NH/NL= 0.10
A/D= 0.38
VU/VD= 0.13
Extremes?
Spain 10yr 6.33%
Italy 10yr 5.98%
Portugal 12.07%
Greece 10yr 29.08%
http://markets.ft.com/RESEARCH/Markets/Government-Bond-Spreads
"Ben, .... If you look at gold in swiss francs it looks much, much closer to a normal triangle completion."
@Steve, I'm going to take a look at that, thanks for the thought. As I recall you had given this bearish outlook for gold "for several months" quite a while back after having rode up that last leg, wish I could remember exactly when you posted that but I seem to think it was near/at the highs
very nice job man, you nailed that call
10% down from high is 1280.14 which is just below the SMA(55) at 1286.52. The trendline (3/9/09-8/12/11) is around 1287. Funny that all of these supports are around the same level.
Added weekly Gold/Swiss Franc, Gold/Euro and Gold/Silver charts.
& the weekly AUDJPY
Funny how the IPO is set for 11AM EST seeing that the EU close is 30 min after that. Must be trying to restart the market move higher at the EU close (which has been the mantra the past few weeks).
SPY option pain is 138 so market makers need something to happen or they'll be paying out a ton of money today.
Facebook baby....
Hee hee. Market turned down right at 11am. Sold to you.
A FB break of $38 will translate into a market free fall. That doesn't include more bad new from the EU.
Wet blanket on the Fbook party...
Underwriters had to bid the shit at 38...
nice.
AmenRa, thanks for the Gold/CHF chart.
It's the weeks after the Sept high that I think formed into a triangle.
Ben, thanks. However, I put all my gains into a FB market order at the open :)
WTH sent EURUSD spiking? The algos are confused. Whoever controls the algos better find the "off" button or they'll get caught in a unexpected position.
CNBS must be bewildered by FB. After all of the hype and brown nosing the FB IPO closed almost flat. What are they (or the so called experts) supposed to do now since people aren't buying the BS anymore?
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