Creditcane™: Do not struggle. Just accept your fate.
Spinning top day. Midpoint above EMA(10). Tested and failed SMA(89). Still failing the 50.0% minor retrace (1357.98). No daily 3LB changes (reversal is 1334.76). QE2infinity.
Bearish short day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (83.61). Still above all SMA's. New low on daily 3LB (reversal is 83.66).
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 18.72).
Doji day. Midpoint above EMA(10). Still failing its 61.8% retrace (1600.40). Tested and held 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. Tested and held its 0.0% retrace (1.2272). Daily 3LB reversal up (reversal is 1.2206).
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).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (14.67). New low on daily 3LB (reversal is 16.25).
Bullish long day. Holding above SMA(21). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (88.24). New high on dally 3LB (reversal is 78.20).
Bearish 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).
Doji day (evening star forming?). Midpoint above EMA(10). Holding above SMA(21,55,144). Tested and failed its 61.8% retrace (46.14). No daily 3LB changes (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). New low on daily 3LB (reversal is 0.7711).
Bearish short day. Midpoint above EMA(10). Tested and held SMA(55). Holding above its 61.8% minor retrace (3.430). No daily 3LB changes (reversal is 3.305).
Bullish short 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).
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 0.0% retrace (294.78). New high on daily 3LB (reversal is 292.64).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
4 comments:
http://www.federalreserve.gov/newsevents/testimony/bernanke20120717a.htm
Monetary Policy
In view of the weaker economic outlook, subdued projected path for inflation, and significant downside risks to economic growth, the FOMC decided to ease monetary policy at its June meeting by continuing its maturity extension program (or MEP) through the end of this year. The MEP combines sales of short-term Treasury securities with an equivalent amount of purchases of longer-term Treasury securities. As a result, it decreases the supply of longer-term Treasury securities available to the public, putting upward pressure on the prices of those securities and downward pressure on their yields, without affecting the overall size of the Federal Reserve's balance sheet. By removing additional longer-term Treasury securities from the market, the Fed's asset purchases also induce private investors to acquire other longer-term assets, such as corporate bonds and mortgage backed-securities, helping to raise their prices and lower their yields and thereby making broader financial conditions more accommodative.
Economic growth is also being supported by the exceptionally low level of the target range for the federal funds rate of 0 to 1/4 percent and the Committee's forward guidance regarding the anticipated path of the funds rate. As I reported in my February testimony, the FOMC extended its forward guidance at its January meeting, noting that it expects that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014. The Committee has maintained this conditional forward guidance at its subsequent meetings. Reflecting its concerns about the slow pace of progress in reducing unemployment and the downside risks to the economic outlook, the Committee made clear at its June meeting that it is prepared to take further action as appropriate to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.
Thank you. I would be pleased to take your questions.
I didn't see any mention of QE3. The last paragraph may have hinted at it but it's not a given.
Sorry I've been so missing in action.
Been a couple of factors.
It's a slow season, so I have to take vacation when my customers take vacation.
Also, the markets have been doing nothing... Just very range bound.
Also, been increasing the amount of physical training in preparation for a marathon and triathalon.
So, just sort of been "out of it" for a few weeks.
AT,
when do the -thons Tee-Off?
AAIP
New thread.
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