Morning Corner 10.18.11

RUSSELL 2000 (weekly info)
WEEKLY REVERSAL new high 712.46
direction=up (1 bar)
high= 712.46
rev= 644.16; mid= 678.31

That bullish move last week failed to closed the gap on the weekly chart. It is failing the test of the SMA(13) this week (so far). It is failing the test of the 61.8% retrace (so far).

S&P Comp 1500 (weekly info)
-no change (above mid)
low= 258.89
rev= 294.34; mid= 276.62

A larger view of S&P using the Composite 1500. The weekly 3LB trend is down. The SMA(144) appears to be the line in the sand. It held SMA(13) last week but that might be in jeopardy. The 50.0% retrace might be in jeopardy also.

Yields, HY, IG, Munis (weekly info)


AmenRa said...

Lemme guess. They're selling gold and buying ES.

We know JPM, C, and BAC used changes in CDS value to boost their bottom line. Which means they couldn't make any profit the usual way.

PPI 0.8% core 0.2%. Businesses dealing with more margin compression. How long before they pass the increases ot the customer?

AmenRa said...

Looks like the morning squeeze failed to materialize.

AmenRa said...

EU about to ban naked sovereign CDS?

ECB buying Italian debt?

AmenRa said...

Another f'in 20 handle move from the lows. This is insane.

QQQQ said...

""This is insane""


plan B... mechanical flip-a-coin trading strategery.


today buy
Wed buy
Thur sell
Fri sell

Andy T said...

Embrace the insanity.

Andy T said...

looking at the ESZ11 .... 30 min charts...

possible H&S top forming. should be resistance at 1216 if that's the case.

very tempting sell around these levels.

neckline at 1185.

ben22 said...

I just read a claim that thanks to the Koch brothers hijacking the tea party ......and blah blah blah the Koch brothers are basically to blame for the debt ceiling "crisis" and the US debt downgrade

is stuff supposed to come out of your nose when you laugh?

ben22 said...

I'd also like to put this in writing:

I read every day now someone my age that claims they are "depressed about the future and their prospects" people a little younger than me....totally screwed apparently, there is just 0 hope for them

so I read them and just keep getting more and more bullish about America's future every time, I can't wait to see how dark the "news" gets at S&P 1k-900

the worse it is the better

see you all there....

Anonymous said...

"...I read every day now someone my age that claims they are "depressed about the future and their prospects" people a little younger than me....totally screwed apparently, there is just 0 hope for them..."

those are 'People' that do not Think/Study..

the "There are 'No Jobs'"-crowd..

Hayek was Right.."Employees are Threat to Liberty"

I will say, 'Business' is so much easier, now, that so many of the 'Weak Hands'/'Hot-Air' Puffers/"Fake It, til' you Make it"- aficionados have been 'Flushed Out' ..


Andy T said...

selling the news

Anonymous said...


any bets on when that, recent, Gap gets 'filled'?


ben22 said...

I'll go with tomorrow, re AAPL gap, as I don't see it as a breakaway or a runaway gap and today was a doji

will I put money on that?

uh, no.

AmenRa said...

I'm listening to news radio in the car and hearing what the market is doing. The final run higher is from France and Germany agreeing to $2T in aid to keep Greece from defaulting and building a "firewall"? GTFOOH.

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