"Hold me."
Creditcane™: Nothing has changed so what gave the market reason to rocket higher?
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21,55,144). Tested and held the 61.8% minor retrace (1343.55). Daily 3LB reversal up (reversal is 1334.76). QE2infinity.
Bearish long day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (83.61). Still above all SMA's. Daily 3LB reversal down (reversal is 83.66).
Bearish long day. Midpoint below EMA(10). Now failing all SMA's. Still failing its 61.8% minor retrace (18.81). Daily 3LB reversal down (reversal is 18.72).
Bullish long day. Midpoint below EMA(10). Still failing its 61.8% retrace (1600.40). Tested and failed SMA(21). No daily 3LB changes (reversal is 1634.20). Must have the precious.
Bullish short day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 0.0% retrace (1.2272). No daily 3LB changes (reversal is 1.2283).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% retrace (38.86). No daily 3LB changes (reversal is 39.19).
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (14.71). No daily 3LB changes (reversal is 17.65).
Bullish long day. Holding above SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (86.56). No dally 3LB changes (reversal is 77.69).
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 100.0% retrace (26.66). No daily 3LB changes (reversal is 26.29).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21,55,144). Still failing its 61.8% retrace (46.14). Daily 3LB reversal up (reversal is 44.46).
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (0.7678). No daily 3LB changes (reversal is 0.7754).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 61.8% minor retrace (3.430). No daily 3LB changes (reversal is 3.305).
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (592.47). No daily 3LB changes (reversal is 592.52).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
11 comments:
Weekly 3LB Update 7/13/12
The C up rolls on...
Crap. Now Bloomie is running headlines that Asian shares rally on China stimulus hopes. Deos it ever end?
I guess it comes down to a simple choice. Get busy living or get busy dying...
- Andy Dufresne
~~~
Best movie quote... EVER...
~cv
For those who have no fucking idea...
~~~
The testimony ~
http://www.youtube.com/watch?v=46GwJbrMghQ
The realization ~
http://www.youtube.com/watch?v=pzGdCNioK9o
~~~
I hope you all have the courage to REALIZE your dreams
German Court Won’t Rule on Bailout Fund for 8 Weeks
Germany’s top court will take more than eight weeks to decide whether to suspend the euro-area’s permanent bailout fund, leaving Europe’s anti-crisis coffer less than half full to respond to the debt crisis.
The Federal Constitutional Court in Karlsruhe will issue a ruling on bids to halt Germany’s participation in the European Stability Mechanism and the fiscal pact on Sept. 12, it said today in an e-mailed statement. That’s more than two months after it held a hearing on the measures.
“The court has held a comprehensive hearing on the issue and will now take the time it needs to reach a decision,” German government spokesman Steffen Seibert told reporters in Berlin today. Finance Minister Wolfgang Schaeuble warned the hearing last week that a delay in activating the ESM “could lead to a significant worsening” of the crisis.
The delay could complicate efforts to resolve the 2 1/2- year-old crisis as European leaders squabble over the details of bailout conditions, bank rescues and burden sharing. In an interview yesterday, Chancellor Angela Merkel gave no ground on German demands for more centralized control over euro member states in return for joint liabilities.
Chiding states which sought to slow moves toward more central control, Merkel told broadcaster ZDF that a so-called banking union involving a bloc-wide financial overseer will have to include joint oversight on a “new level.” She said efforts to advance on “solidarity” without supervision will fail.
10yr low 1.449% just 9 bps above the all time low.
http://ftalphaville.ft.com/blog/2012/07/16/1084241/barton-biggs-dies-aged-79/
Barton Biggs passed away. He was 79.
Miraculously the market is staying afloat. ECB making senior bondholders take a hit, Germany implying there was no deal at EU Summit, 10yr yields pushing back towards all time lows. Somehow oil, gold, silver and the euro are all higher.
Spain 10yr back up to 6.82%. Maybe the third time (over 7%) is the charm?
New thread.
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