Creditcane™: The power of the rumor is waning and shall allow me to rise in all of my glory.
Spinning top day. Midpoint below EMA(10). Tested and held SMA(55). Tested and failed the 38.2% minor retrace (1343.55). New low on daily 3LB (reversal is 1372.78). Still failing lower trendline. QE2infinity.
Bearish engulfing day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (84.00). Still above all SMA's. No daily 3LB changes (reversal is 83.03).
Bearish harami day. Midpoint above EMA(10). Tested and held SMA(144) but failed SMA(55). Tested and failed its 50.0% minor retrace (20.22). No daily 3LB changes (reversal is 15.45).
Bullish long day. Midpoint above EMA(10). Tested and held its 61.8% retrace (1600.40). Tested and held SMA(21,55). No daily 3LB changes (reversal is 1634.20). Must have the precious.
Bullish engulfing day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.2154). No daily 3LB changes (reversal is 1.2286).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing its 38.2% minor retrace (39.62). New low on daily 3LB (reversal is 39.85).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 0.0% retrace (14.40). No daily 3LB changes (reversal is 14.64).
Bullish short day. Tested and held SMA(55). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (88.24). No dally 3LB changes (reversal is 92.97).
Bullish short day. Tested and held SMA(21). Midpoint below EMA(10). Holding above its 100.0% retrace (26.66). No daily 3LB changes (reversal is 26.29).
Spinning top day. Midpoint below EMA(10). Tested and held SMA(55). Still failing its 61.8% retrace (46.14). No daily 3LB changes (reversal is 46.33).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (0.7536). New low on daily 3LB (reversal is 0.7588).
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 50.0% minor retrace (3.359). No daily 3LB changes (reversal is 3.305).
Doji day (after huge gap lower). Tested and failed SMA(55). Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (577.84). Daily 3LB reversal down (reversal is 614.32).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held its new 0.0% retrace (132.04). New high on daily 3LB (reversal is 130.36).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
9 comments:
WTH happened overnight to send futures screaming higher? Is is T+3?
n/m I see Mario Draghi was jawboning. But Germany hasn't said a thing.
And then there is this from the ECB Press Conference in Dec 2011:
Draghi: At the present time we do not see a high probability of deflation. That is one point to keep in mind. The second point is, as I have said many times, that the purpose of the SMP is to reactivate the transmission channels of monetary policy. As I said in the statement to the European Parliament, the SMP is neither eternal nor infinite. We must keep this in mind and we do not want to circumvent Article 123 of the Treaty, which prohibits the monetary financing of governments.
Initial claims BTE (no QE)
Durable goods M/M 1.6%, previous 1.6% (rev from 1.1%), consensus 0.6%.
Ex-Trans M/M -1.1%, previous 0.8% (rev from 0.4%), consensus 0.2%
The ex-trans may worry the Fed but it's not enough for the next round of QE. So next week I don't expect any stimulus but the Fed may extend 2013 to 2014 in the language.
Spain 10yr @ 6.99% (for now but the day is still young).
Italy 10yr @ 6.11% (still makes it expensive for them to borrow).
http://finviz.com/quote.ashx?t=S
~3.82
to mention the obvious..
"...many missed the 'Bull Case' on this one..."
ibid.
The unfortunate thing is that as we add 1 trillion to US debt yearly, that only the fiscally conservative see this as impossible to pay back..that is, there is no way in hell to get the R and D teams to agree to start paying down this massive debt. EVERYTHING else is seconday. I see traders are getting very antsy about the Japanese debt too, at this stage. Greece had few worries as long as there was excess debt to fund its bloat. I have been at this a long time, and don't see anything different here. Yes, we are the reserve currency, but it feels like all that means is we manage to make the storm worse at the end.
Will sign a contract to sell the trees > 16 inches next week. Or soon thereafter.
Good luck trading guys..
Bruce,
I hear your point(s)..
though, if 'Cash' from the Tree sale, then..What? will you use as 'Store of Value'?
ibid.
AAIP
BinT still has the land that the tree are on.
********
New thread.
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