Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bearish long day. Midpoint below EMA(10). Still above all SMA's. Still failing the 0.0% retrace (1419.15). Daily 3LB reversal down (reversal is 1418.16). QE2infinity.
Spinning top day. Midpoint below EMA(10). Tested and failed the 61.8% minor retrace (81.51). Still failing SMA(89). New low on dally 3LB (reversal is 82.64).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Holding above its 0.0% retrace (14.27). Daily 3LB reversal up (reversal is 13.45).
Bullish long day. Midpoint above EMA(10). Tested and held its 50.0% retrace (1668.00). Tested and held SMA(233). New high on daily 3LB (reversal is 1555.10). Must have the precious.
Bullish short day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and held its 38.2% minor retrace (1.2522). New high on daily 3LB (reversal is 1.2297).
Bearish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 50.0% minor retrace (39.86). No daily 3LB changes (reversal is 39.33).
Bearish long day. Tested and failed SMA(89). Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). Daily 3LB reversal down (reversal is 18.36).
Bearish short day. Tested and failed SMA(144,233). Midpoint above EMA(10). Tested and held its 38.2% retrace (95.94). No dally 3LB changes (reversal is 95.89).
Bullish short day. Tested and held SMA(144). Midpoint above EMA(10). Holding above its 100.0% retrace (26.66). New high on daily 3LB (reversal is 28.59).
Bearish long day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% retrace (46.14). Daily 3LB reversal down (reversal is 47.47).
Bearish short day. Tested and held SMA(55). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (0.7678). Daily 3LB reversal down (reversal is 0.7738).
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Holding above its 61.8% minor retrace (3.430). No daily 3LB changes (reversal is 3.540).
Bearish harami day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 0.0% retrace (665.15). No daily 3LB changes (reversal is 636.34).
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 0.0% retrace (3.13). New high on daily 3LB (reversal is 3.00).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
http://www.bloomberg.com/news/2012-08-23/u-s-incomes-feel-more-in-recovery-sentier-says.html
U.S. Incomes Fell More in Recovery, Sentier Says
American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.
Median household income fell 4.8 percent on an inflation- adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.
“Almost every group is worse off than it was three years ago, and some groups had very large declines in income,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview today. “We’re in an unprecedented period of economic stagnation.”
If household income is >7% lower than 2007,how can you say the recession ever ended?
Lies, damned lies, and statistics...
http://www.nytimes.com/2012/08/24/business/global/chinas-economy-besieged-by-buildup-of-unsold-goods.html?_r=2&ref=business
China Confronts Mounting Piles of Unsold Goods
The severity of China’s inventory overhang has been carefully masked by the blocking or adjusting of economic data by the Chinese government — all part of an effort to prop up confidence in the economy among business managers and investors.
But the main nongovernment survey of manufacturers in China showed on Thursday that inventories of finished goods rose much faster in August than in any month since the survey began in April 2004. The previous record for rising inventories, according to the HSBC/Markit survey, had been set in June. May and July also showed increases.
“Across the manufacturing industries we look at, people were expecting more sales over the summer, and it just didn’t happen,” said Anne Stevenson-Yang, the research director for J Capital Research, an economic analysis firm in Hong Kong. With inventories extremely high and factories now cutting production, she added, “Things are kind of crawling to a halt.”
""BinT said...
If household income is >7% lower than 2007,how can you say the recession ever ended?
Lies, damned lies, and statistics...""
...the ones in charge of this mess are creating a boiling frog syndrome... yep, if average Joe and Jane aren't careful with their finances, they'll be cooked!
Bruce,
I think household income is one of those goofy things that have a misleading name based on what it counts.
In any event, that trend is even worse because it started before 2007:
http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1
sure, from the stock market semantics perspective we've had two bull markets in the 2000's....but we all know that the economic reality has been a secular bear market for 12 years now.
That said, I've been straight loving the equity rally and hardly think its over
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