The Fed and ECB are not the saviors the market thinks they are.
Creditcane™: Bonds are screaming yet equities play deaf.
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Holding above the 38.2% minor retrace (1372.42). No daily 3LB changes (reversal is 1337.89). Holding above lower trendline and looking to test the upper trendline. QE2infinity.
Bullish short day. Midpoint below EMA(10). Holding above the 38.2% minor retrace (82.46). Tested and failed SMA(21). No daily 3LB changes (reversal is 84.00).
Bullish short day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 15.45).
Bullish short day. Midpoint above EMA(10). Holding above its 61.8% retrace (1600.40). Tested and held SMA(89). No daily 3LB changes (reversal is 1638.90). Must have the precious.
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(21). Holding above its 0.0% retrace (1.2154). No daily 3LB changes (reversal is 1.2071).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% minor retrace (39.62). No daily 3LB changes (reversal is 39.85).
Bearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (14.40). No daily 3LB changes (reversal is 14.04).
Bearish short day. Holding above SMA(55). Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (90.23). No dally 3LB changes (reversal is 92.97).
Bullish long day. Tested and held SMA(55). Midpoint above EMA(10). Holding above its 100.0% retrace (26.66). No daily 3LB changes (reversal is 26.29).
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and failed its 61.8% retrace (46.14). No daily 3LB changes (reversal is 46.33).
Bearish short day. Tested and failed SMA(21,55). Midpoint above EMA(10). Holding above its 0.0% retrace (0.7536). No daily 3LB changes (reversal is 0.7501).
Doji day. Midpoint above EMA(10). Tested and held SMA(55). Tested and failed its 61.8% minor retrace (3.430). No daily 3LB changes (reversal is 3.305).
Bullish short day. Tested and held SMA(89). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (592.47). No daily 3LB changes (reversal is 614.32).
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% retrace (68.21). New high on daily 3LB (reversal is 68.63).
Bullish long day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 0.0% retrace (38.19). New high on daily 3LB (reversal is 37.07).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
6 comments:
Another reason why the ECB might not be in that much of a hurry:
http://finance.yahoo.com/news/insight-ecb-thinks-unthinkable-action-142923840.html?l=1
quote:
"Even when ECB bond-buying was in full flow last year, the ECB's Governing Council limited purchases to roughly 20 billion euros a week, partly at the Bundesbank's behest, insiders say.
The experience remains seared into central bankers' memory after a debacle with Italy. Within days of making commitments to deficit cuts and economic reforms to convince the ECB to step in, then Italian Prime Minister Silvio Berlusconi went back on his promises and treated them as a joke."
Thx Ra,
stop by everyday,
if only for a minute.
excess becomes more excess...
and more excess becomes more excessive.
Why after all of the hype are economists now saying that they don't expect the Fed to do anything in the August meeting? The market headed higher on this hope/rumor. So why change your mind now?
Which also allows them to levitate the market for another month. Shady.
TG to speak on Bloomberg tomorrow morning. Must be trying to front run the Fed and ECB statements.
New thread.
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