ES (daily info)-no change (above mid)
trend=down
low= 1086.25
rev= 1193.00; mid= 1142.13
ES is back above the 61.8% retrace and the SMA(21). It's still below the weekly 3LB mid.
DXY (weekly info)new high 78.73
trend=up
high= 78.73
rev= 77.19; mid= 77.96
DXY still trying to breach its 38.2% retrace. It's also trying to hold the trend line. Last week made another high but the candle was a spinning top so no direction is apparent.
GOLD (weekly info)-no change (below mid)
trend=no
direction=down (2 bars)
low= 1622.30
rev= 1876.90; mid= 1749.60
Gold is treading water at its monthly 3LB mid. It did make a higher low and high than the previous week. It never tested its SMA(55). Not dead yet.
21 comments:
Hope you had a good birthday Andy. Happy 40.
So the plan for a plan of a plan (that has yet to be planned) to help EU banks is behind this move?
Hmmm. I think I see what happened. There were not enough shorts at the break of 1120 so they pushed the market down to 1075 to see if they would bite. And bite they did. A $100 move use to take weeks/months. Now it's done in four days.
Bond markets are closed today, so this is all b.s. to my eyes.
Eurofollies back in full swing. Macro Man manages to take the piss out of them every day without repeating themselves, which is amazing....
Broadly bullish but short-term cautious...
http://www.youtube.com/watch?v=m72AVUKiLwk
Plastico - Ruben Blades & Willie Colon (Bugz in the Attic remix)
What a market...sp500....
Ok algos. The bond market is about to wake up soon. Better get those numbers back to reasonable levels or your hand will be forced.
A moment of silence for:
Dexia
Greek Proton Bank
Danish Max Bank
http://www.finviz.com/quote.ashx?t=S
Caution: "Dumb Trade o' the Day (potentially)"
short the Oct 2.50 Puts, net ~0.44+
Should make the next ~10 Trading Days, a little more ~interesting..
~
AAIP
Another one for you, Austria's Erste Bank:
http://www.bloomberg.com/news/2011-10-10/erste-to-keep-state-capital-as-writedowns-cause-net-loss.html
Amen Ra
Sarc aside:-)...nice grooves...
OT...but you might dig this...I was dancing around to it this morning...Tata Vega
http://www.youtube.com/watch?v=emBDrNMRJ-c
As for Nola... the Treme theme song (with the exception of some wonky tempo in the chorus)...combines nicely with the Northern Exposure theme...if you're into mixes.
http://www.youtube.com/watch?v=1M1Iagf3GSs
http://www.youtube.com/watch?v=5-w-inT91AI
Mel
Ha! That was in a mix I was listening to last week.
WTF just happened? Was that a "1200 or Bust" move?
The bad thing for bulls is that they are near the top of the current trading range (aprox 1120-1220).
That's the move where shorts come in at 3.45 and then get their asses burned and have their stops run before the close.
We love that move.
Happy to go home with a little less risk on than I had this morning.
+3.4%, well, that there is a squeeze.
Ra
Okay, okay...this could go on forever...but one more... I was messing with this a while back...
Up the tempo on My Girl by the Temps a little bit...cut out a few loops...and drop them into Flowers by the Emotions..
http://www.youtube.com/watch?v=4P1x7Yy9CXI
http://www.youtube.com/watch?v=Lch3gGZ6kaY
Mel
I haven't heard that Emotions song in a minute. Nice.
Mel
With todays technology you can change the key on "My Girl" to match "Flowers".
Ra
Yeah...no kidding...just plugging a keyboard into Garageband could suck up the next year before you knew what happened.
Mel
I know. I know. :-)
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