A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: My masterpiece revisited.
SPXBearish short day. Midpoint below EMA(10). Back below SMA(21). Obviously no test of 0.0% retrace. New low on daily 3LB (reversal is 1343.01). QE2infinity. JBTFD?…
DXYBearish long day. Midpoint below EMA(10). Now below the 14.6% retrace (77.54). Still below SMA(21). New low on daily 3LB (reversal is 78.61). Below weekly 3LB mid.
VIXBullish long day. Midpoint above EMA(10). Above all SMA's. New high on daily 3LB (reversal is 15.81). Back in the "fear" zone. Currently does not have a monthly 3LB reversal.
GOLDBullish long day. Midpoint above EMA(10). 0.0% retrace holding. Still above all SMA's. New high on daily 3LB (reversal is 1385.10). Above upper trendline. Must have the precious.
EEMHoming pigeon day. Midpoint below EMA(10). Still below all SMA's. Failed its 38.2% retrace (45.06). No daily 3LB changes (reversal is 46.48).
JNKSpinning top day. Midpoint below EMA(10). Held SMA(21). Back above its 50.0% retrace (40.47). Also still below lower trend line. No daily 3LB changes (reversal is 40.34).
IQIBullish long day. Midpoint below EMA(10). Still below all SMA's. Passed its 23.6% retrace (11.68). No daily 3LB changes (reversal is 12.30). Still below its weekly 3LB mid (11.76).
10YR YIELDBullish harami day. No test of 0.0% retrace at 37.44. Still below SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 37.25).
CRBBullish long day. Midpoint above EMA(10). Above all SMA's. No test of 0.0% retrace. New high on daily 3LB (reversal is 342.17).
XLFSpinning top day. Midpoint below EMA(10). Still below SMA(21). No test of 0.0% retrace. Tested and held the 23.6% retrace (16.53). New low on daily 3LB (reversal is 17.18).
TLTDoji day. Midpoint above EMA(10). Still above SMA(21). Not testing lower trend line. New high on daily 3LB (reversal is 88.45). Currently does not have a monthly 3LB reversal (down).
SILVERBullish long day. Still above all SMA's. Midpoint above EMA(10). No test of 0.0% retrace. New high on daily 3LB (reversal is 31.58). Blythe?!? Blythe?!? RU OK?
15 comments:
Thanks, AR.. hey i'll repost the DeMark video cuz there is good history there and he has to talk so fast:
http://www.businessinsider.com/tom-demark-cnbc-2011-2
Lefty,
Thanks again for your fixed income ideas...I sold considerable 10 year treasuries this morning just before you did...and after today's auction, yields have gone back up a tad. Good.
The next donuts are on me..
hey, i have no t.a. skilz whatsoever, but is that a potential cup & handle forming up on this 1-hr gold chart?
http://www.finviz.com/futures_charts.ashx?t=GC&p=h1
Karen, thanks for the demark link. Its interesting, the point he seems to be making is that Middle East tensions caused significant capital flows out of emerging markets (go EEM short!) and into US equities at the time of his last failed top call. As I understand his argument (and I haven't read everything he has written) this seems to be the idea behind Martin Armstrong's thesis that US markets won't see new lows. I have a personal bias against arguments that are basically "we are the best of the worst, so the money will come here," since I think there are always alternatives (gold, oil, cash, CV's nickels, peanut butter and epipens, home fish farming equipment, etc.) But, of all the arguments I've read, I find it the most compelling -- much more so than anyting based on "the economy" certainly!
re: NZT
http://finance.yahoo.com/q/op?s=NZT&m=2011-03
that 'Options Chain' is, meagre..
also, here:
http://finance.yahoo.com/q?s=NZT
Yahoo! quotes the Div. @~5.50%
which is it? 5.50 or 9 ?
http://finviz.com/quote.ashx?t=NZT&ty=c&ta=1&p=d
goes ~8.95%
~~
AAIP
J-
"..peanut butter and epipens.."
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=peanut+butter+and+epipens
very droll.. :)
AAIP
DXY down, ES up, Silver up (w/Blythe curled up in a corner). What else is new?
@ 72
Aye, that be the pattern... a little sloppy, and with a bit of "slope" on the upside, but the action leading into it on that hourly chart is certainly par for the course.
Always want to check that against the daily and weekly charts to stack the odds in your favor more.
Also, its tough because you dont get volume on finviz charts, but ideally, you want to see the volume very light on the red candles when you are forming the handle.
Hope that helps...
AR, stop that silly talk.. you and Ahab are scaring me..
forget gold and silver.. and the conspiracy scares.
since the 2008 low,
platinum has gone from -800 to 1850+
Palladium has gone from sub 200 to 850+
and lastly, if you want to see a crazy metal chart.. look at rhodium over 5 years..
thanks for that, i
Wow. A LOT going on in the comments section today....
CV:
""Centralizing" means a committee... That never ends well... Germany is cursing the day they ever signed on to the Euro...""
Agree with the first part. Disagree with the second. Joining the Euro helped Germany sustain their export economy. If they were back in the days of the Deutch Mark, they NEVER would have enjoyed this much economic success.
They've won greatly because they're competing against a bunch of economic lightweights.
They're having to bailout those lightweights NOW because they've been trouncing them, via the EURO, for the last decade.
Germany would, far and away, be THE BIGGEST LOSER if the Euro went away...
In re: SP500 and "short term trading"....
1320.25 is the key resistance now on the March futures....
Interesting that 1326 would be the 61.8% retrace on the CASH S&P 500--1325 was our first support for this week. Given that 1325 was taken out, it would automatically be my first resistance now.
So, breaking 1320.25 on the "futures" should piss off shorts....taking out 1326 in the SP500 "cash" would make it look like we're dealing with a corrective move lower. It wouldn't negate the concept we've got decent downside ahead, but it would mean we're dealing with something other than the c-wave we've been anticipating.
For folks trading March futures...the easiest risk/reward trade is to sell hard at 1318-1320 and then run a "stop loss" at 1327. Maybe we get whipsawed on the first go, but I like selling this thing in front of 1320....
"After Helicopter Ben and Teleprompter Barack came up with the brilliant plan to give $2,000 to every underwater homeowner, Saudi Arabia blows everyone out of the water with the biggest social whoring attempt to date."
http://www.zerohedge.com/article/helicopter-ben-step-aside-meet-enola-gay-abdullah-whorism-goes-global
>> $2,000 to every underwater homeowner
One ZHer said something like: "This is a scheme to trick borrowers into signing new docs, to help the banks work around the MERS fiasco."
Sounds reasonable to me. After all, WTF is $2k going to do for anyone?
So, we'll hear the banks and Murdoch-owned media cry about "socialism" to whip up their audience, to help in 2012. But, the bankers will like it, because it's cheaper than litigating MERS.
If anyone wanted to try socialism, the *trillions* we gave to bankers should've been given to the homeowners (or better yet to renters and homeowers alike, all citizens). Then, homeowners would own most of their homes outright. Instead, the pwned USG is keeping up the debt slavery.
What we have is "farcism". Neither capitalism nor socialism work like they're supposed to.
"Tilapia, bitchez." ;-)
Good nite...
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