"EOM & EOQ!!! EOM & EOQ!!! EOM & EOQ!!!" So nothing special.
Creditcane™: Otra vez: Remind me to use my vacation days during EOM/EOQ ramps. Arrgghh!!!
Bullish long day (a Brain Sack parting gift). Midpoint above EMA(10). Tested and held SMA(55,89). Tested and held the 50.0% minor retrace (1357.98). New high on daily 3LB (reversal is 1342.84). QE2infinity.
Bearish long day. Midpoint below EMA(10). Tested and failed the 38.2% minor retrace (81.70). Tested and failed SMA(21). Daily 3LB reversal down (reversal is 82.81).
Inverted hammer day. Midpoint below EMA(10). Now failing all SMA's. Tested and failed its 61.8% minor retrace (18.81). New low on daily 3LB (reversal is 21.54).
Bullish long day. Midpoint below EMA(10). Tested and held its 61.8% retrace (1600.40). Tested and held SMA(21). No daily 3LB changes (reversal is 1634.20). Must have the precious.
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Still failing its 38.2% minor retrace (1.2710). Daily 3LB reversal up (reversal is 1.2436).
Bullish short day. Midpoint above EMA(10). Now above all SMA's. Holding above its 61.8% retrace (38.86). New high on daily 3LB (reversal is 38.95).
Bullish short day. Holding above SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (14.71). No daily 3LB changes (reversal is 17.65).
Bullish long day (Iran sanctions about to kick in ). Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 0.0% retrace (81.14). Dally 3LB reversal up (reversal is 77.69).
Bullish long day. Failing all SMA's. Midpoint below EMA(10). Tested and held its 100.0% retrace (26.60). No daily 3LB changes (reversal is 28.14).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(55). Holding above its 50.0% retrace (43.76). Daily 3LB reversal up (reversal is 43.89).
Bullish short day. Tested and held SMA(233). Midpoint above EMA(10). Holding above its 61.8% minor retrace (0.7643). New high on daily 3LB (reversal is 0.7651).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (3.430). Daily 3LB reversal up (reversal is 3.305).
Bullish short day. Tested and held SMA(89). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (577.84). No daily 3LB changes (reversal is 587.41).
Bullish long day. Midpoint above EMA(10). Holding above SMA(21). Tested and held its 61.8% minor retrace (283.95). New high on daily 3LB (reversal is 267.16).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
4 comments:
hot in the mountains today!
Weekly 3LB Update 6/29/12
very powerful snap back rally.
felt like a combination "end of quarter" combined with a good short covering headline out of euro land...
that was a nice squeeze across the board.
Spain/Italy tomorrow....zzzzzz.
Hope Italy takes them out...
Interesting read: Angela Merkel is Playing You For Fools
A thought experiment: how would you solve the euro crisis if Germany were not part of the equation? If you would have to put the de facto German contribution to the puzzle at zero, neutral? What would you be left with then, and what steps would have to be taken to come to a solution? If the sole remaining big players were, let's see, France, Spain and Italy?
That changes the picture, doesn't it? Take Germany out and all you're left with is pretty much roadkill. Plus a motley crue of comparatively small barely breathing rodents like Holland, Finland and Austria.
See? With bailouts for Spain and Italy now all but inevitable, if you leave Germany out of the picture for the moment, you're left with no-one at all to pay for those bailouts. Not even a complete and immediate move towards a fiscal, banking and political union would do anything to resolve Europe's financial quagmire if Germany is not present.
In other words: it all comes down to Germany. Berlin is on the hook for everything. The required funding for the EFSF and ESM emergency funds would, with Spain and Italy moving into roles as debtors instead of creditors, have to come from Germany to the tune of what would fast approach 50% or so.
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