In a secret room in the subbasement of 33 Liberty Street...
In brightest day, in blackest night,
No shorts shall escape my sight
Let those who worship the shorts might,
Beware my power, PPT's light!!!
Creditcane™: Alright Sissyphus. I'm adding a couple of more boulders to keep you honest.
SPXBullish short day. Midpoint above EMA(10). Tested and held SMA(21,144). Holding above the 38.2% retrace (1296.82). No daily 3LB changes (reversal is 1332.42). Back above weekly 3LB mid. QE2infinity.
DXYBullish short day (weak morning star formed). Midpoint below EMA(10). Failing the 0.0% retrace (83.11). Holding above SMA(21). No daily 3LB changes (reversal is 83.04).
VIXBearish long day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 38.2% minor retrace (21.62). No daily 3LB changes (reversal is 21.03).
GOLDDoji day. Midpoint below EMA(10). Now failing its 61.8% retrace (1600.40). Tested and held SMA(21). No daily 3LB changes (reversal is 1559.40). Must have the precious.
EURUSDBearish short day (weak evening star formed). Midpoint above EMA(10). Still failing all SMA's. Holding above its 0.0% retrace (1.2363). No daily 3LB changes (reversal is 1.2368).
JNKBullish short day. Midpoint above EMA(10). Still failing all SMA's. Tested and held its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.69).
10YR YIELDBullish long day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (14.67). No daily 3LB changes (reversal is 17.65).
WTISpinning top day. Still failing all SMA's. Midpoint below EMA(10). Now failing its 38.2% minor retrace (85.75). No dally 3LB changes (reversal is 89.90).
SILVERDoji day. Tested and held SMA(21). Midpoint above EMA(10). Failing its 61.8% minor retrace (30.00). No daily 3LB changes (reversal is 27.20).
BKXBullish short day. Midpoint above EMA(10). Still failing all SMA's. Holding above its 38.2% retrace (41.37). Daily 3LB reversal up (reversal is 41.00).
HYG/LQDSpinning top day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (0.7592). Daily 3LB reversal up (reversal is 0.388).
COPPERBearish long day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 50.0% minor retrace (3.352). Daily 3LB reversal down (reversal is 3.379).
AAPLBullish short day. Holding above SMA(21). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (577.84). Daily 3LB reversal up (reversal is 560.99).
CRBBullish short day. Midpoint below EMA(10). Failing all SMA's. Still failing its 38.2% minor retrace (277.27). No daily 3LB changes (reversal is 279.74).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
9 comments:
Weekly 3LB Update 6/8/12
I knew there had to be a reason for the appearance of so many BP commercials: http://www.ft.com/intl/cms/s/0/69771938-b184-11e1-9800-00144feabdc0.html?ftcamp=published_links%2Frss%2Fhome_uk%2Ffeed%2F%2Fproduct#axzz1xIX5kuue
BP Seeks $15bn Spill Settlement
http://www.zerohedge.com/news/spain-greece-after-all-here-are-main-outstanding-items
Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout
Minimum amount needed: 100bn euros. No conditions on Spain's government. Syriza probably just won the election because of this. Funded provided by the ESB (which isn't signed by Germany yet) and the EFSF (which Spain was supposed to contribute 93bn...not).
Here comes the BS spin: http://finance.yahoo.com/news/wall-street-week-ahead-rallys-003420609.html?l=1
Wall Street Week Ahead: Spain aid deal calms Europe fears
By Angela Moon
NEW YORK (Reuters) - U.S. stocks will get a lift on Monday after euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to help its battered banks.
The surprisingly large amount of aid removes a huge cloud that has been hanging over financial markets, with investors fearing that a banking crisis in euro zone's fourth-largest economy could have compounded the currency bloc's troubles with Greece.
Though the exact amount to be lent will be decided in just over a week, striking a deal now means Spain has added support in case Greece's June 17 elections throw financial markets into a tailspin.
"This is a major step in avoiding a contagion," said Tim Speiss, partner-in-charge of EisnerAmper's Personal Wealth Advisors Group in New York.
"The amount is pretty high, higher-than-expected. Although we need to get more details, at least for equity markets in the U.S. and around the world, this definitely eases short-term fears," Speiss said.
U.S. stocks are coming off their best week of 2012, in large part due to expectations that something would be done for Spain's banks.
It's getting interesting: http://www.zerohedge.com/news/here-they-come-ireland-demands-renegotiation-its-bailout-terms-match-spain
Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain
But back to Ireland. From AFP:
"Ireland raised two issues: one is the need to ensure parity of the deal with Spain retroactively on its bailout from EFSF," one European government source told AFP, referring to the temporary rescue fund, the European Financial Stability Facility.
Another European government source confirmed the information.
Ireland secured an 85-billion-euro ($112 billion) rescue deal from the European Union and the International Monetary Fund in November 2010, but only after agreeing to draconian austerity measures.
Unlike Ireland, Spain's economy minister said a deal on financing for the country's troubled banks would not impose any conditions on the wider economy.
Dublin plans to raise the issue during the next meeting of eurozone finance ministers to be held June 21, the sources said.
Eurozone finance ministers said Saturday they were willing to give Spain up to 100 billion euros to help its troubled banks, which are suffering due to their massive exposure to the ailing property sector.
Not this again: http://finance.yahoo.com/news/europe-works-euro-zone-bond-185524097.html?l=1
Europe works on new euro zone bond plan: report
BERLIN (Reuters) - German news magazine Der Spiegel reported on Saturday that leaders of European institutions are working on a comprehensive plan to rescue the euro that would include the issuance of joint euro bonds - a move Germany has repeatedly rejected.
The news magazine said European Union Commission President Jose Manuel Barroso, European Council President Herman Van Rompuy, Euro group head Jean-Claude Juncker and European Central Bank President Mario Draghi are working on plans for a "genuine fiscal union" in which individual member states would no longer be able to independently take on new borrowing.
Governments would only be able to decide how to spend money that is covered through their revenues, Der Spiegel reported. Any country that needs more money than it takes in would have to report that need to the group of euro finance ministers.
The magazine quoted four high-ranking EU planners saying this group of finance ministers would then decide which financial desires at which levels were justified and would then issue joint euro bonds to finance these new borrowing needs.
Germany mentioned once in the article. They reject the idea. That pretty much means it's BS and won't happen.
was actually in a sports bar last night and watched the entire pacquiao fight. first time i've watched a boxing match in a long long time.
now i know why. that decision was so bad.
Well. the bailouts worked so well for Greece...why not give some moolah to Spain. I'm sure this is going to work out great.
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