A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Wow blitz attack. I'm still a little dazed and confused.
SPX
Bullish harami day. Midpoint below EMA(10). Still below all SMA's. Failing trend line (3/6/09-7/1/10). Tested and held the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below daily, weekly & monthly 3LB mids.
DXY
Bearish long day. Midpoint below EMA(10). Holding its 0.0% retrace (73.51). Tested and failed 38.2% minor retrace (74.640). Back below SMA(21), SMA(55) & SMA(89). No daily 3LB changes (reversal is 75.75).
VIX
Bearish long day. Midpoint above EMA(10). Way above all SMA's. Tested and failed its 0.0% retrace (39.25). No daily 3LB changes (reversal is 25.25). Ran away from the "extreme fear" zone.
GOLD
Shooting star day (confirmation needed!!!). Midpoint above EMA(10). Tested and held its new 0.0% retrace (1723.40). Still above all SMA's. New high on daily 3LB (reversal is 1644.50). Holding above upper trend line. Must have the precious.
EURCHF
Bearish long day. Midpoint below EMA(10). Tested and failed its 0.0% retrace (1.0829). New 0.0% retrace is 1.0048. Failing all SMA's. New low on daily 3LB (reversal is 1.0862).
JNK
Bullish long day. Midpoint below EMA(10). Still failing all SMA's. Holding its 0.0% retrace (36.35). Tested and held its 61.8% minor retrace (37.38). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.59).
10YR YIELD
Bearish LONG day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (23.28). New 0.0% retrace is 21.73. Still below the upper trend line. New low on daily 3LB (reversal is 25.99).
WTI
Spinning top day (possible morning star). Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (80.17). New low on dally 3LB (reversal is 91.93).
SILVER
Bearish long day. Tested and failed SMA(21) but held SMA(55). Midpoint below EMA(10). Tested and failed its 50.0% retrace (37.94). New low on daily 3LB changes (reversal is 40.70).
BKX
Bullish harami day. Midpoint below EMA(10). Failing all SMA's. Tested and held its 0.0% retrace (36.55). Tested and held its 38.2% minor retrace (39.08). No daily 3LB changes (reversal is 44.44).
HYG/LQD
Hammer day. Failing all SMA's. Midpoint below EMA(10). Failing its 0.0% retrace (0.7670). No daily 3LB changes (reversal is 0.7928). Didn't change 0.0% because it's still the strongest bearish candle. We'll see.
USDJPY
Bearish long day. Midpoint below EMA(10). Back below all SMA's. Tested and failed its 61.8% minor retrace (77.497). Daily 3LB reversal down (reversal is 79.01). Calling BoJ. Calling BoJ. The balls back in your court.
IT HAS BEGUN. BE WARNED.
16 comments:
Ra,
so you would look for an inside day tomorrow, perhaps a doji with a nice long lower shadow to confirm the harami today?
just curious how you approach after today's stick on $spx
thanks
ben22
If it opens higher then that could be viewed as confirmation. BUT it's the close that matters most.
thanks Ra, that makes perfect sense
At this point, I'd like to see another market tantrum to push Bernanke past jawboning to another round of asset purchases. We all know it's going there, so why not get it out of the way.
space shuttle, use your mouse to move around
If anyone wants some cheap time-wasters for Windows, Mac, or Linux, visit http://www.humblebundle.com/ and pay what you want for the games.
I have been enjoying Osmos and VVVVVV so far.
Hmmm. I thought I'd see more of a move in ES overnight after that squeeze from hell. Not happening so far.
Matthew
The built in chess for the mac is usually enough to keep me busy. Hard as hell to beat.
USDJPY back under 77. Someone is calling the BOJ's bluff.
"Hard as hell to beat."
I've never been able to beat it. What usually happens is the computer takes a key piece in my strategy (a knight, for example) that ruins the whole strategy and then the situation deteriorates from there (think of the scene from Happy Gilmore when he launches into a scurrilous rant at the ball). I wanted to break that computer so badly a few times. I had to retire from Mac chess.
What a fun day....
This kind of market action warms the loins...
We're getting some really really 'fun' moves....
It's not the same old slow chug higher any more boys and girls...
The character of the market has changed.
I'm expecting a little bit of a grind higher now...volatility will come off a bit...
But, in the next few weeks, we should really start to have some fun.
just checked Daneric's site....
Geezo...that DX count..."C'mon Man!"
The gold count?!? WTF.
My counts suck sometimes....but why do all these orthodox counts look so 'forced?'
Oh well ...
Whatev'
Guess NOT everything he touches turns to Gold....
http://www.businessinsider.com/john-paulsons-down-10-11-in-just-8-days-2011-8
Hopefully nobody missed this "pearl of wisdom" from the Fuzzy one earlier today...
"Selling will continue until it exhausts itself..."
Thanks Bro'. That really helps ....
Andy T
Paulson has been getting his ass handed to him. Amazing what happens when trusted fundamentals and technicals get thrown out the window.
ben22
Futures are not indicating a higher open just yet. But levitation happens in the wee hours.
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