A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: I was having so much fun. Who called the cops to break up the party?
SPXHammer day (better reversal if close is higher). Midpoint below EMA(10). Failed SMA(21). Tested and failed the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Below daily & weekly mids.
DXYBullish long day. Midpoint above EMA(10). Tested and held the 383.2% retrace (75.83). Back above all SMA's. Daily 3LB reversal up (reversal is 73.47).
VIXBearish long day (after huge gap higher). Midpoint above EMA(10). Held SMA(21). Failing its 0.0% retrace (45.40). Tested and failed its 61.8% minor retrace (38.05). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone.
GOLDDoji day (also evening star). Midpoint above EMA(10). Holding above its 38.2% minor retrace (1840.15). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.
EURCHFBullish long day. Midpoint above EMA(10). Tested and held its 38.2% retrace (1.1717). Tested and held SMA(89). Daily 3LB reversal up (reversal is 1.1197). SNB decided to flex.
JNKSpinning top day (gapped lower). Midpoint below EMA(10). Back below SMA(21). Failing its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).
10YR YIELDBullish short day (also morning star). Still failing all SMA's. Midpoint below EMA(10). Held below its 0.0% retrace (19.96). New low on daily 3LB (reversal is 22.71).
WTIDoji day. Still above SMA(21). Midpoint below EMA(10). Holding above its 0.0% retrace (80.32). Tested and held its 38.2% minor retrace (85.30). No dally 3LB changes (reversal is 92.08).
SILVERBearish long day. Still holding above all SMA's. Midpoint above EMA(10). Held above its 38.2% retrace (40.74). No daily 3LB changes (reversal is 37.94).
BKXHammer day (we'll see if it gets confirmed). Midpoint below EMA(10). Failing SMA(21). Tested and held its 0.0% minor retrace (36.25). New low on daily 3LB (reversal is 39.95).
HYG/LQDBearish long day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7427). Tested and failed its 38.2% minor retrace (0.7585). No daily 3LB changes (reversal is 0.7910).
USDJPYBullish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (77.497). New high on daily 3LB (reversal is 76.46).
IT HAS BEGUN. BE WARNED.
16 comments:
you da man Ra! thanks for all your hard work
are you familiar with the "falling threes" in candlestick terms?
If so, take a look at the various time frames on ES, it's textbook falling threes.
flags and pennants have actually been really good for the last 7-8 months
this flag, I've never seen so many people keyed into a short term pattern
I have to lean toward it not working, I'd also note that for the start of a bear market, all the news is most certainly bad, it's basically universal (bad news)
basic shit I realize, but probably worth thinking about
alright, off to my last draft
the one tough thing about being in 3 leagues is that if you aren't careful you've got to pretty much root for everyone every week, which can't be good every week.....fantasy players know exactly what that means.
can't wait until Thursday,
J
Øbama
B
S
US will prosper thereafter.
ben22
I didn't notice them on the 5, 15, 30, 60, daily or weekly. But I did see many examples of three white soldiers and three black crows.
If the German high court says the bailout is unconstitutional, no matter what O says, it won't help...
after today's action, i'm particularly proud of my last slide in the update. that mofo bounced right at that trendline....
yeah, fundamentals really matter....
not.
AR, what do you think of the Gold action today. Sort of looks like a rejection into the previous high. I've been thinking triangle since the first dumparoo....
i guess i'm still looking for sideways congestion on the daily.
Andy T
SGE did another margin hike before the Chinese festival.
Ummm doesn't the market head for the cliff after a horrendous NFP? Or is it treading water due to hopes of QE3?
Ra,
there are a few on this chart:
http://evilspeculator.com/wp-content/uploads/2011/09/2011-09-05_spoos_hourly.png
http://www.candlestickforum.com/PPF/Parameters/16_804_/candlestick.asp
Oddly enough, I had pick 7 of 12 and I got Ray Rice in the first round
pretty happy about that
"Ummm doesn't the market head for the cliff after a horrendous NFP?"
according to the bespoke chart last week it seemed more like the worse the NFP the better for the market
in a round-about way this makes sense on some level since NFP will always be a lagging indicator
AT, 8:55
yeah, nice
though I would say we are in no mans land, as strong as that support line was, this trendline is serving as even stiffer resistance:
http://tinypic.com/r/qx46du/7
@Andy 8:55
I drew your line and 2 perfect touches: one at 10:40 the other at 10:47 - Well done
I just want to know what is the half life of the SNB pegging the CHF to the EUR.
A little more insight into the SNB thoughts: http://www.zerohedge.com/contributed/its-war
Bruce Krasting on the US DOJ & Swiss.
gold dropped about $60 in minutes... hmmm
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