A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane: That was fun. Wait until you see my next move.
SPXHigh wave day. Still holding above 1110. Still above the SMA(89) but below the SMA(144). Midpoint above EMA(10). Below the trendline (3/6/09-5/25/10). No daily 3LB changes (reversal is 1115.01). QE2infinity.
DXYSpinning top day (with long "hair"). Confirmed bullish piercing. Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated and tested 80.95 (fib .09) and failed. No daily 3LB changes (reversal is 81.54).
VIXBearish short day. Did confirm bullish harami. Midpoint above EMA(10). Still holding below weekly 3LB mid and monthly 3LB mid. Still below the SMA(89) and below the SMA(144). No daily 3LB changes (reversal still 24.25).
GOLDSpinning top day. Confirmed bearish thrusting. Above the SMA(21) and the SMA(89). Midpoint above EMA(10). Still above 14.6% retrace. New high on daily 3LB (reversal is 1197.90). Tested but failed (again 2x) the weekly 3LB reversal price.
EURUSDHanging man day. Failed to confirm bearish thrusting. Midpoint above the EMA(10). Held the SMA(144). Holding above 1.2935 (fib .1459) and the 38.2% retrace. Still above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal is 1.3076).
JNKDoji day. Did not test the 76.4% retrace. Still above all SMA's. Midpoint below EMA(10). No daily 3LB changes (reversal is 37.72).
GSDoji day. Tested and held the SMA(144). Midpoint above the EMA(10). The 38.2% retrace (153.99) didn't hold. No daily 3LB changes (reversal is 152.58).
10YR YIELDBearish short day. The 14.6% retrace is relegated to history. Did not hold 0.0% retrace at 28.17 (new). Midpoint below EMA(10). Still below the SMA(21). New low on daily 3LB (reversal is 28.92). Ring. Ring. BB what are you going to do now?
DJ TRANS AVGBearish long day. Confirmed hanging man late after removing slack. Still trading above all SMA's. Midpoint above EMA(10). Daily 3LB reversal down (reversal now 4516.35).
LUMBERBearish short day. Back below the SMA(21). Still below the weekly 3LB mid. Midpoint below EMA(10). No daily 3LB changes (reversal is 194.60).
85 comments:
oooh...
Amen breaking out the GANN's (EUR-USD)
Looks like the 10yr has thrown down the gauntlet at the feet of the Fed.
Don't forget the Fed is notorious for waiting about three days before making a "surprise" announcement.
Also the SPX failed to hold the 50% retrace of (1576.09-666.79) at 1121.44. Might not be much but it still failed to hold.
Karen,
previous.
We did Where the Red Fern Grows in 5th grade and if I recall correctly I read The Outsiders in 6th grade. Never read Old Yeller though.
Stay gold ponyboy.
Anyone looking at the futures charts? Asia not at all impressed with the post FOMC rally and back at the lows.
I have never seen crude gap down at this time of night. China data worries back on the front burner
Most currencies have returned to pre FOMC ranges after the bump. EURJPY new recent low.
If QE2 or lite whatever we are calling it sees a giant market rally there will need to be a lot of revisions to statements made by many about what caused the 09 market rally.
This has the makings of a major shank tonight ...
our man Cramer-
These actions proved that Fed Chairman Ben Bernanke “is not the problem,” Cramer said. “It’s a Congress” focused on legislation that “cuts profitability.” Bernanke is “on the side of the good guys . . . The “Fed said good things,” Cramer said. “Buy.”
laugh the fuck out loud
Nic, I sat on my hands all day, glad I did.
Nic
US futures are following suit. But that'll only last until the opening gap up.
Fed taking a few more fresh steps:
http://twitpic.com/2ditqp
@ahab
I laughed hard
Which is deflation, the elephant or the canyon?
Or is there even an elephant or a canyon?
Cramers former vote of confidence-
http://www.youtube.com/watch?v=rOVXh4xM-Ww
So, if cramer is the ultimate contrary indicator, how do you bet against him here?
I'm getting too philosophical. Sell.
oh brother, my post above should have read
sees a giant market....drop
lol, that cramer quote is classic....what a horses ass.
and hat tip to CV-
I like the clean streamline style of zero icons
b22-
I think your statement made sense either way
LB is going to miss Karen's top a lot with no icons. But it is nice and clean
The way Bucky shrugged off the clavadista-style move post FOMC is quite impressive.....
I'm happy with the 40% long position in DXY right now. I think we congest for the next 24 hours between 80.75 and 81.30. I wouldn't mind a shot at buying the mid 80.00's...
Those are some weird candles on the S&P minis....it looks a bit toppy but that triangular pattern last few days can't be ignored. A higher high would not surprise and would actually be welcomed. With a 20% of max. short on the S&P, I want to be shorter....
C'mon Beniccio Bernanke...you can do it...smash that Greenback and put one more bid to the "risky assets."
I think this better describes the markets view of the Feds decision: Gravity Lessons
Wat happened to the icons?
@AmenRa
I'm back... (RE:)"Don't forget the Fed is notorious for waiting about three days before making a "surprise" announcement.
Hmmm... we might have to wait a little longer...
I mean, CERTAINLY the "surprise" announcement will now come at 3:55PM next Thursday (on the eve of OPEX)...
Right? Right?
That would complete the "hat trick" for 2010...
I miss the icons, easier to identify people.
@Andy/all
I don't know what the deal is with the avatars...
Maybe I "clicked" on something irregular in the dashboard or something (or maybe it's just BLOGGER)...
I'm up to my ass in baby alligators here at the moment, so when I get to it, I'll get to it...
the surprise announcement from the Fed will be when they admit that they can't stop the deflation train.
choo choo.
Please submit all REFUND requests to the webmaster at:
http://www.kissmyass.com/
:-)
At,
Only 40%?!
I'm half in to the dollar, feeling like I'm a real good spot right now.
A dollar above 90 and an S&P in the 800's by year end.
A madman can dream.
That Cramer youtube is a classic but he was wrong and Bill Poole was right. If he had had his way the "bad actors" banks would have gone out of business.
The Fed's William Poole correctly says the mortgage lenders and homebuilders going out of business were "bad actors" whose punishment was deserved.
"This year’s markets punished mostly bad actors and/or poor lending practices. The market’s punishment of unsound financial arrangements has been swift, harsh and without prejudice”
-William Poole, President Federal Reserve Bank of St. Louis, July 2007
@MCF
"the surprise announcement from the Fed will be when they admit that they can't stop the deflation train."
CV has obtained exclusive footage of the occurrence...
http://www.youtube.com/watch?v=RyIiRwmmhCo
CV,
I went to the page, very nice bottom, the boots aren't really my thing.
Speaking of zombies...
The Nikkei is getting POLEAXED...
@bob
Then I take it you were attempting to lodge a complaint? :-)
@bob
Or... simple "curiosity"?
Either way... Your revelation just put yourself in a slightly more VULNERABLE position in a theoretical game of TEXAS HOLD EM... :-)
@AmenRa
BTW...
This weeks AMENS CORNER... (Starting tomorrow eve on the eve)...
http://a.espncdn.com/photo/2007/0611/whistling_straits_800.jpg
CV knows he could lob a little "cut" 4 iron onto that pad, no problem...
This is how the FOMC comes up with their policy statement: http://www.youtube.com/watch?v=Ow4t3C_gCCY
Curiosity, I figured that there should be a very nice ass on kissmyass.com. I was not disappointed. I may buy and copyright the domain now, and charge everyone like you a major infringement fee.
@Amen (9:57)
LOL
Send Tchaikovsky the news...
http://www.youtube.com/watch?v=sBk-r-oRMgM&feature=fvst
@bob
See? I knew you were a Go**amn capitalist!
Anyone else sensing that society is cracking one chicken mcnugget at a time.
If you haven't seen this lady throwing a tantrum over the fact she couldn't get McNuggets at 6 in the morning....
Pretty disturbing stuff...
http://www.youtube.com/watch?v=wlbV-NPT56s&feature=related
the most interesting part of the video comes at the end...it's like nothing out of the ordinary went down!
http://www.southparkstudios.com/clips/222638
Best version of the reasoning behind the curtains.
From this episode, all of it was spot on, completely hilarious, and more accurate than the financial press.
http://www.southparkstudios.com/clips/222638
Oh and this is what the Fed plays after the statement is released: http://www.youtube.com/watch?v=ZDAMOjvfyhw
Refunds are no longer available.
@AmenRa
Most triumphant!
http://www.youtube.com/watch?v=N2a3nbTrO_c
yeah, the chicken nugget lady, what a psycho, and the car that pulls up behind after she breaks the window, wonder what they were thinking
we had the flash mobs a few months back in philly, then there's the real wild stuff like the Michigan killer.
@McF
http://www.youtube.com/watch?v=FHlopjHepEw
This is how civilized we are.
http://www.youtube.com/watch?v=tgiR04ey7-M&feature=related
I remember this well...
Not only was that last CNN video on my birthday...
But also...
The RIOTS occurred during a period when I was in Denmark doing some work...
When I returned... The arrival of the airlines was delayed (literally SMOKED OUT) because of the looting and the fires...
I remember flying over the brown smoke & burning buildings...
Lesson?
I'm not sure... But BE CAREFUL about how many "layers" of separation you all think our society has between CIVILITY (& not)...
JM2c
I'm not sure just yet but I think Steven Slater could be a hero. You have to laugh at this story.
CV
I remember that scene in the movie LMAO.
@McF (10:57)
I'm fairly certain that in the coming months/years... we will see a plethora of HOWARD BEALE activity...
http://www.youtube.com/watch?v=90ELleCQvew
It is clean, I agree! But Nic.. I have no clue what a shank night is.. btw, if you think i'm having too much fun, my big date tonight? Costco! Really, it is where he likes to take me, laughing.
Ben.. i'm a wealth of steven slater links if you need them.. jk.. i did read a few stories, tho : )
@karen
This ought to amuse you... 2nd box from the left on the top...
http://finviz.com/futures.ashx
CV, somehow that doesn't! besides I was just there.. wanted to see crude at 75 but no.. and i bet you want gold under $1k as much as i do.
I'm into low SILVER prices these days...
Wanna buy bags of these (at an everyday low COSTCO price)...
http://www.goldeneaglecoin.com/Silver/90%25_Silver_Coin_Bags
I guess I won't be seeing this movie: What If Dumb & Dumber Were More Like Inception?
http://nymag.com/daily/entertainment/2010/08/what_if_dumb_dumber_were_more.html
the comments are the parody.. LOL
CV.. i have drawers full of scrap silver.. not interested.
@karen
Dissatisfied?
Try this site...
http://www.howitshouldhaveended.com/
actually, you are into those disgusting fish!! oh, my, they look like the little sunfish i would catch in the lake! i think i'd eat a rat before i'd eat one of those.. okay, sorry, that was rude.
& you're going to be WRONG about silver...
It's going to close the gap...
Why?
Because when the dollar eventually does collapse, people will need a TRANSACTION medium...
It will be SILVER - not gold...
Gold will store "long term" value... But people will TRANSACT with silver...
Therefore, it's relative WORTH will escalate vs. gold because of its utility...
Go ahead... Don't believe me... I dare you...
As far as TILAPIA are concerned...
I'm guessing you've NEVER eaten TILAPIA...
Nevertheless... The UTILITY is more towards fertilizing a fruit & vegetable garden...
Distracted... you miss the point...
was it the newcastle ad or the movie?? i'm confused.. this is the movie you will love:
http://www.middlemenmovie.com/
LOL! it think it's the same movie.. but i got the better link !!
No, CV.. you have it wrong.. on silver. I have amassed my position. Distracted?? hardly. If you use those fishies as fertilize.. I get it.
aren't tilapia similar to sole (I'm gagging as I type, btw).. yeah I used to make Lively Lemon Roll-Ups with sole..
I'm not sure I have time to check out the link (because I'm busy)...
I'm working on my post for tomorrow AM...
It's entitled...
"karen isn't happy because the ES mini's aren't down as much as she'd like them to be... she HATES sunfish... she has too much silver in her drawer... movies are a disappointment... & her date brought her to COSTCO...
but Bob Pisani thinks that might be a POSITIVE for equities"
---
Like the "sound" of it so far? :-)
So Obama signed the bill to assist teachers, police and firefighters. Fine. BUT WHERE IS THE 2011 BUDGET!!!
No... not like sole... closer to perch...
@Amen
Don't you get it?
That IS the budget... Freebies to all UNION workers...
No wonder TWSWB is a fan... That's all his FUSION clients are...
It's a great bill...
And if it weren't for George Bush, teachers & firefighters would be making 7 figures by now, and that would bring about world peace, stop global warming, double the recipient benefits of gay marriages, and make kumbaya the national anthem.
CV, perch! ? you have cinched it for me.. I'm putting my humus away.. and my french roast skin has just blanched to fresh fallen snow.. still sweet but...
You just insulted McF...
That's the fish he used to catch on lake Erie...
It was part of the mainstay of the Iroquois Nation Confederacy for centuries...
But they're just stupid indians, right?
Or if you want to... you could tell me that the Egyptian's were a bunch of idiots too because they fished this same species from the Nile river...
CV, that wasn't my tribe.. we were so distant as to not even be enemies.. no wonder I have such an aversion..
okay.. calling it a night here! i have a novel to finish..
Goodnite Pocahontas...
I guess traders will buy the 10yr at any yield just as long as they're out of equities.
you don't like perch! what?
oh man, some breaded yellow perch, that's some good stuff right there
yeah, I know they are bottom feeders, maybe I am too...haha
Ra,
it would seem after yesterday many of the bond bulls are more confident than ever.
what could possibly go wrong?
Ben
Reported gas leak at the WH.
A few weeks ago I said I would go all short once QE2 was announced.
Well, I didn't go all short yesterday (do still have some shorts though), I did nothing, but that would have been a good trade.
doh!
and post PR day, there is a ton of buzz on CNBC about:
1. buy the dips (all the way too XXXX and then maybe we get worried)
2. there will be, there just has to be, another announcement from the Fed or a bailout for homeowners, any day now, seriously
3. Soft Patches, Headwinds, Whips, Chains, Whistles, and Yo-Yo's
entertainment at its finest
C,
you are such a bastard for saying something about Michelle's vacation:
http://news.yahoo.com/s/yblog_upshot/20100810/pl_yblog_upshot/first-lady-went-to-spain-to-spend-time-with-grieving-friend
as for all the other vacations, well, she's got a lot of grieving friends.
Post a Comment