A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: New highs on lowest volume of the year. I'm coming soon.
SPXBullish long day. Midpoint above EMA(10). Above all SMA's. Tested and held the 14.6% retrace (1319.09). New high on daily 3LB changes (reversal is 1281.87). QE2infinity. "JBTFD. Don't question it. Just do it."
DXYSpinning top day. Midpoint above EMA(10). Held the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. No daily 3LB changes (reversal is 76.33).
VIXSpinning top day. Midpoint below EMA(10). Back below SMA(55). No daily 3LB changes (reversal is 20.21). Still below monthly 3LB & weekly 3LB mid. Still in the "no fear" zone.
GOLDSpinning top day (failed to confirm hammer). Midpoint below EMA(10). No test of 0.0% retrace. Back below SMA(21). No daily 3LB changes (reversal is 1392.80). Holding above upper trend line. Must have the precious.
EURUSDBullish short day. Midpoint above EMA(10). Still above 1.3870 (the 61.8% retrace). Above all SMA's. No daily 3LB changes (reversal is 1.3978).
10YR YIELDBullish short day. No test of 0.0% retrace at 37.44. Still above SMA(55). Midpoint above EMA(10). Held the upper trend line. New high on daily 3LB (reversal is 34.04).
LQDInverted hammer day. Below all SMA's. Midpoint below EMA(10). Closed below 50.0% retrace (108.23). No daily 3LB changes (reversal is 107.75). Closed below monthly 3LB reversal price.
WTIHammer day (closed higher so more bullish). Still above all SMA's. Midpoint above EMA(10). No test 0.0% retrace. Holding above the 14.6% retrace (103.64). No daily 3LB changes (reversal is 106.41).
EEMBullish long day. Midpoint above EMA(10). Above all SMA's. Held its 14.6% retrace (47.26). New high on daily 3LB (reversal is 44.60).
XRTBullish long day. Midpoint above EMA(10). Above all SMA's. Held its 14.6% retrace (49.65). New high on daily 3LB (reversal is 48.77).
15 comments:
Don't look now but the Russell 2000 is close to taking out the February high...
Then Bernanke will think to himself "job well done".
Speaking of the Bernank...
Is this "melt down" an indication of CORE inflation being low?
Guardian Reports Core At Reactor 2 May Have Melted To Concrete Floor, Radioactive Lava Next?
http://www.zerohedge.com/article/guardian-reports-core-reactor-2-may-have-melted-concrete-floor-radioactive-lava-next
Or is it just another case of fear mongering?
I was just reading that guardian article and I wouldn't want to be anywhere near Japan at this time. It's not good.
You get downgrades of Portugal and Greece, a bad Case-Shiller report, a WTE consumer sentiment reading and get a no/low volume meltup in the markets. No mas.
cv--
from what I've seen/heard, serious people think that that TEPCO/Fukushima Plant is a serious problem (not 'contained', at all)
AAIP
"...and get a no/low volume meltup in the markets.."
AmenRa,
that Vol. # is, really, amazing, no?
esp. w/ Volume 246,495,152
from C
http://finviz.com/quote.ashx?t=c
good thing there 'ancient' G*rbage, like this:
By STEPHANIE SIMON
DENVER—A fight brewing in the Colorado legislature has lawmakers bitterly divided over beer.
The state House of Representatives is expected to begin debate soon on a bill that would dismantle Colorado's great beer divide, which since 1933 has limited the sale of beer with higher alcohol content to liquor stores, restaurants and bars.
Supermarkets and convenience stores, meanwhile, have had a monopoly on beer with less than 3.2% alcohol by weight, which is equivalent to 4% by volume. Now, they want the opportunity to cash in on sales of the stronger stuff.
In 2010, Coloradans purchased nearly six million gallons of lower-alcohol beer, compared with 104 million gallons of higher-alcohol brews.
Colorado's beer laws, enacted after Prohibition to keep the most intoxicating brews away from teens, have created unusual situations. The Coors Light sold in supermarkets is made with a shorter fermentation period, which produces a lower alcohol content, than the Coors Light sold in liquor stores—though the brewer says there is no difference in taste, and the packaging is nearly identical.
Only four other states—Utah, Oklahoma, Indiana and Kansas—have similar rules...
http://online.wsj.com/article/SB10001424052748703739204576229053002458270.html?mod=rss_whats_news_us_business
to keep peep distracted/occupied..
ibid.
S&P 500 closes right at that first resistance level discussed on Sunday night, but showing ZERO signs of peaking action.
Bears going to be "tested" next few days....
MEH@7.41
Good thing they had those laws enacted...
Lord only knows what those teens would have done if there had been higher alcohol content brew in the Supermarket...
Are we ever going to learn?
There's a law here in TX that you cannot buy beer before 12PM on Sunday. Pfft.... What's the point?
Liquor stores are shutdown on Sunday here. I'm sort of "for" that law just because I feel bad for my Vietnamese liquor store guy who works everyday of his life that the store is open.
@AAIP
http://www.temasekreview.com/2011/03/30/when-the-fukushima-meltdown-hits-groundwater/
CV
Damn. That's what they're keeping from the public. Mass panic is coming.
Thinking about the way the S&P500 is acting from the top...the idea that "markets don't peak on bearish news" is still ringing true.
Let's face it...it's NUTS that the market as 'shrugged off' everything here. But, THAT IS the way it goes.
Markets don't peak until every single bullish factor has been fully discounted. Ditto in reverse. Remember, the stock market didn't bottom at 667 in March '09 until it seemed like BofA and Citi were going to be nationalized that weekend--basically..."the end."
I suppose one of the "cool" things about youtube and technology is the way it "ushers in" democratic outcomes....
So, this dude from Illinois College wanted to get into the NCAA "dunk contest." Coming from a DivIII school, that was a "non-starter."
So, naturally this fellow creates a video of himself doing insane dunks.
Guess what? He gets the invite.
http://www.youtube.com/watch?v=jEgcml1Wx1w
G'Night and Good Luck to this young fellow.
Andy T
He's got mad hops! Nice.
Anyone use Skew? Any hints on best way to use it? What is it saying or at what level does it say watch out?
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