Creditcane™: There should have been more pain.
Hammer day (higher close would be better signal). Midpoint below EMA(10). Tested and held SMA(89). Tested and held the 50.0% minor retrace (1357.98). No daily 3LB changes (reversal is 1419.04). QE2infinity.
Bullish short day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (79.60). Tested and held SMA(89). No daily 3LB changes (reversal is 80.08). Still below weekly 3LB mid.
Spinning top day (w/volatility). Midpoint above EMA(10). Tested and held SMA(21,89). Tested and held its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 20.39).
Bearish long day. Midpoint below EMA(10). Tested and held its 61.8% retrace (1598.10). Failing all SMA's. New low on daily 3LB (reversal is 1645.50). Still below its monthly 3LB mid. Must have the precious.
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 38.2% minor retrace (1.3057). No daily 3LB changes (reversal is 1.3465).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 38.2% minor retrace (39.62). No daily 3LB changes (reversal is 39.33).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Failing its 0.0% retrace (18.96). New low on daily 3LB (reversal is 19.15).
Bearish short day. Tested and failed SMA(233). Midpoint below EMA(10). Failing its 50.0% retrace (99.04). New low on dally 3LB (reversal is 101.91). Still below the monthly 3LB mid.
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (29.92). New low on daily 3LB (reversal is 30.60).
Bearish short day. Midpoint below EMA(10). Failing SMA(55). Still failing its 38.2% minor retrace (49.10). No daily 3LB changes (reversal is 49.00).
Spinning top day. Tested and failed SMA(21,144). Midpoint below EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7676).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Failing its 50.0% retrace (3.846). New low on daily 3LB (reversal is 3.829).
Bearish short day. Failing SMA(55). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (563.20). No daily 3LB changes (reversal is 560.28).
Spinning top day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 38.2% retrace (3.02). No daily 3LB changes (reversal is 3.08).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
28 comments:
Calling BIS. Calling BIS. EURUSD moving lower from 1.3000.
Calling SNB. Calling SNB. EURCHF having trouble staying above the peg at 1.2000.
Overnight action should be interesting.
Neely sent out a note saying that the sp500 was heading to 1300 minimum....m
Support down at 1200. Just sayin.
EURCHF intervention at 12:00-12:05 as it jumped to 1.2065 from 1.2006.
au 1584 this morning...with the 10 year 1.84..
looks like this correction may last a while..
4 home runs and a double in 5 at bats..
Spain's 10yr over 6%.
I'm curious about the US 10yr auction later today. With yields this low how much will the PD's have to buy?
MUST...NOT..TAKE..OUT...YESTERDAYS...LOW...
looks like 10 year may end in the 1.7's...
Japan 24/7 is the actual light in the tunnel..
BinT
10yr testing its weekly 3LB reversal (down) at 18.08.
SPX Mar lows about to be obliterated.
http://finviz.com/quote.ashx?t=BZQ
soon, no longer a 'teenager'..
ibid.
http://www.cbsnews.com/8301-503544_162-57430719-503544/4-in-10-choose-convict-over-obama-in-w.va-primary/?tag=exclsv
40% of the democratic primary chose a convict over Obama? Huh?
Over $14 up from the lows in under an hour. Someone needed a change of underwear at the Treasury. This move brought the 10yr yield above 1.825%. They must have gotten word that PDs & DBs were thinking about avoiding the auction.
BAC protecting the rising window (gap up) from 7.49-7.63. If that closes then support is 6.41 (Jan 12 low) & 6.48 (38.2% minor retrace).
Even though we have this intraday move higher declines > advances, new lows > new highs, vol down > vol up & VIX +3.5%.
Shocker.
S&P500 bounces in front of key support zone (1338-1340)
Look at the final minute push in the market to get the 10yr yield higher before the auction ends.
Hee hee: Carlyle Falls Below Offer Price as Rubenstein Plan Fails http://www.bloomberg.com/news/2012-05-09/carlyle-shares-fall-below-22-ipo-price-on-fifth-day-of-trading.html
10yr auction results
B2C 2.90 prev 3.08
HY 1.855% prev 2.043%
PD 45.48% prev 50.51%
DB 15.79% prev 10.99%
IB 38.73% prev 38.49%
Announced 24.0B prev 21.0B
Accepted 23.977B prev 20.991B
Otra vez VIX +5%, declines > advances, new lows > new highs, vol down > vol up. Doesn't appear the lie is convincing enough.
RA-
How would you characterize those back to back daily candles on the SP500.
Isn't in weird to get back to back "hammers" like that.
CIC Stops Buying Europe Government Debt on Crisis Concern
http://www.bloomberg.com/news/2012-05-09/china-investment-stops-buying-europe-debt-on-crisis-concern-1-.html
China Investment Corp. has stopped buying European government debt because of an economic crisis on the continent, though it continues to look for new investments there, said CIC President Gao Xiqing.
“What is happening in Europe right now is of course of concern,” Gao said today in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.”
Andy T
Not really weird. Just shows that the bulls are desperate and do a lot of buying to stay above the lows. Now a hammer with a green (higher close) body would give me pause if bearish.
Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern
quote:
"The only thing funnier than a nationalization statement spun as positive, or favorable for taxpayers, is one that has been Google translated, in this case from Spanish, courtesy of Bank of Spain, which has just formally bailed out Bankia, leaving the best for last: "In any case, BFA-Bankia is a solvent entity that continues to function quite normally and customers and depositors should have no concern." Move along. Nothing to see here. Nobody should be concerned."
Andy T
The last ten minutes changed the SPX from a hammer to a short day as the tail needs to be 2-3x the size of the body.
nuevo.
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