A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Hi. My name is Greece. I'll be your substitute teacher for the day.
SPXBearish long day (confirmed bearish harami). Midpoint below EMA(10). Failed SMA(21). 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 50.0% retrace (76.55). Still above all SMA's. New high on daily 3LB (reversal is 74.01). Trading just below the monthly 3LB reversal price.
VIXBullish long day. Midpoint above EMA(10). Held SMA(21). Failing its 0.0% retrace (45.40). Tested and held its 61.8% minor retrace (39.46). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone…barely.
GOLDSpinning top day. Midpoint above EMA(10). Tested and held its 38.2% minor retrace (1840.15). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Still below all SMA's. Tested and failed its 61.8% retrace (1.3861) and 38.2% minor retrace (1.3671). New low on daily 3LB (reversal is 1.4498).
JNKBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).
10YR YIELDBearish long day. Still failing all SMA's. Midpoint below EMA(10). Decided to make a new 0.0% retrace (18.96). New low on daily 3LB (reversal is 22.60).
WTIBearish short day. Tested and held SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (80.32). Tested and failed its 61.8% minor retrace (88.47). No dally 3LB changes (reversal is 92.08).
SILVERSpinning top day. Still holding above all SMA's. Midpoint above EMA(10). Holding above its 38.2% retrace (40.74). No daily 3LB changes (reversal is 37.94).
BKXBearish long day (confirmed bearish harami). Midpoint below EMA(10). Failing SMA(21). Tested and failed its 0.0% retrace (36.25). New low on daily 3LB (reversal is 39.85).
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).
USDJPYSpinning top day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 76.46).
TLTBullish long day. Midpoint above EMA(10). Holding above all SMA's. Tested and held its 0.0% minor retrace (112.58). New high on daily 3LB (reversal is 111.20).
IT HAS BEGUN. BE WARNED.
5 comments:
@Ra
"Creditcane™: Hi. My name is Greece. I'll be your substitute teacher for the day."
Classic.
This is CV's idea of a substitute teacher...
http://www.youtube.com/watch?v=g0XLKcMoXRE
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If anyone was at the football blog today & wonder wht it wasn't updated... The power went out here all day & just came back on...
http://research.tdameritrade.com/public/markets/news/story.asp?dockey=4018-6EF98BEADA5011E0A3AE00212803FAD6-3IGGTIE6D83RDFM12RM80H6M24
The violent swings within the market are more typical of a bear market than a bull market," Mary Ann Bartels, technical research analyst at Bank of America Merrill Lynch, told clients in a report earlier this week.
The U.S. and global stock markets are being repriced to reflect a new reality. Weak economies are getting weaker. In the U.S., government stimulus did not give the economy traction or inspire confidence. The Federal Reserve, for now at least, is on hold; there is for the moment no new rescue plan, no QE3 or even QE 2.75. Plus there is little spirit in Washington for cooperation on spending and revenue concerns. Read more: Cutting taxes or red tape won't create jobs.
Investors are positioning themselves for what is being called "The Age of Deleveraging," or "The New Normal." Whatever you bill it, this is not a normal business-cycle correction. This is a balance-sheet crisis. At such times, markets feel every bump in the road, recoveries are susceptible to the slightest shocks, and recessions tend to occur every two to three years instead of every five to 10 as they do during typical business expansions and contractions. Read more: 3 big myths about the U.S. debt crisis.
....dinner with friends last night...some very bright, but non-business types...amazingly naive about the global situation in finance but I just listened and enjoyed them...
BinT:
Good stuff there...
A "balance sheet" crisis....good phrase there.
Steve Keen had it nailed all along...
A log slog my friends...a long slog.
also bruce. prescient commentary on Manning a few days ago....back under the knife again.
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