Creditcane™: Funny what happens when I step onto the trading floor.
SPXBearish long day. Midpoint above EMA(10). Tested and failed SMA(55,144). Tested and failed the 61.8% minor retrace (1343.55). No daily 3LB changes (reversal is 1304.86). QE2infinity.
DXYBullish long day. Midpoint below EMA(10). Tested and held the 38.2% minor retrace (81.70). Tested and failed SMA(21). Daily 3LB reversal up (reversal is 81.38).
VIXBullish long day (confirmed inverted hammer). Midpoint below EMA(10). Tested and held SMA(89). Tested and held its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 26.66).
GOLDBearish long day. Midpoint below EMA(10). Tested and failed its 61.8% retrace (1600.40). Tested and failed SMA(21). No daily 3LB changes (reversal is 1559.40). Must have the precious.
EURUSDBearish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and failed its 38.2% minor retrace (1.2710). No daily 3LB changes (reversal is 1.2556).
JNKBearish engulfing day. Midpoint above EMA(10). Tested and failed SMA(55,89,144). Tested and failed its 61.8% retrace (38.86). No daily 3LB changes (reversal is 37.59).
10YR YIELDBearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (14.71). No daily 3LB changes (reversal is 17.65).
WTIBearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (81.14). New low on dally 3LB (reversal is 83.00).
SILVERBearish long day. Failing SMA(21). Midpoint below EMA(10). Failing its 61.8% minor retrace (30.00). Daily 3LB reversal down (reversal is 29.49).
BKXBearish engulfing day. Midpoint above EMA(10). Tested and failed SMA(55). Holding above its 50.0% retrace (43.76). No daily 3LB changes (reversal is 44.05).
HYG/LQDBearish engulfing day. Tested and failed SMA(55,89,233). Midpoint above EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7646).
GS (weekly)-no change (below mid)
trend=down
low= 92.64
rev= 108.99; mid= 100.82
JPM (weekly)-no change (below mid)
trend=down
low= 31.93
rev= 45.16; mid= 38.55
MS (weekly)-no change (below mid)
trend=no
direction=down (2 bars)
low= 12.73
rev= 20.33; mid= 16.53
CS (weekly)new low 18.88
trend=down
low= 18.88
rev= 21.12; mid= 20.00
IT HAS BEGUN. YOU HAVE BEEN WARNED.
10 comments:
Not much has been said about it in the MSM but EURCHF has spent most of the week below the peg at 1.2000.
Merkel Ally Rejects Bailout Concessions for Greece
Germany has recently come under increasing pressure to change its tough approach to fighting the euro crisis, but Kauder firmly rejected the suggestion that Germany was isolating itself within the EU with its stance. "On the contrary, we are doing a lot -- really a lot -- for Europe. Most other countries know that," he said. "If we make concessions now, then what? It won't help if Germany loses its triple-A rating. Then the bailout fund would also lose its backing. Everyone in Europe would be the loser."
Best review of JPM IG9 trade: Is J.P. Morgan In The Process Of Unwinding Its Massive IG9 Trade?
thanks for the link on jpm trade.
love the bulls falling off the cliff....
LeBron James..."baller."
I was wrong about them winning in 6 games...
Russell 2k closed below its EMA(10) last month. No wonder the Fed is nervous as their favorite indicator says trouble ahead.
By TOM KRISHER
AP Auto Writer
(AP:DETROIT) The risk of engine fires is forcing General Motors to recall 475,000 Chevrolet Cruze compact cars.
GM said Friday that the fires can ignite when fluids drip onto a plastic shield below the engine. GM knows of 30 fires caused by the problem. No injuries have been reported.
Dealers will cut the shield to let the fluid drain to the pavement. GM says most of the fires were caused by spills during oil changes that weren't cleaned properly. Cruzes with worn-out manual transmissions also can leak fluid.
The recall covers cars built from September of 2010 through May of 2012.
The Cruze is key because it has improved GM's small-car sales. The company has a history of poor-performing compacts.
http://news.ino.com/headlines/?newsid=6898673650180
'worn-out Transmissions..' -- the flippin' Car isn't, even 2 years old..
ibid.
Bundesbank Swipes at Draghi as European Fault Lines Deepen
Today, the ECB Governing Council expanded the pool of securities eligible as collateral with a lower threshold.
Residential mortgage-backed securities and loans to small and medium-sized enterprises rated at least BBB- at Standard & Poor’s will now be accepted with a valuation haircut, or risk premium, of 26 percent, the ECB said. The previous minimum rating on such securities was A-.
Auto loan, leasing and consumer finance asset-backed securities and those backed by commercial mortgages with a second-best rating of at least A- at Standard & Poor’s will now be eligible with a haircut of 16 percent, the ECB said.
Commercial mortgage-backed securities with a second-best rating of at least BBB- from S&P would face a haircut of 32 percent, according to the statement.
The “risk control framework with higher haircuts applicable to the newly eligible ABS aims at ensuring risk equalization across asset classes and maintaining the risk profile of the Eurosystem,” the ECB said in the statement.
“This is a case of the ECB having to do something to ensure that liquidity keeps flowing into the euro-zone banking system,” said Peter Dixon, an economist at Commerzbank AG in London. “It’s a solid reminder to those who say the ECB is not doing enough.”
Literally everything and the kitchen sink.
G, it's Friday? and, 'We' closed + ?
did anybody guess?
the 'Radio', on the Beach, sounds so much nicer when it's chortling about + DJIA closes, no?
ibid.
:)
AAIP
PPT number one rule: Do not let a distribution day be followed by another down day.
New thread. Enjoy the weekend.
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