Creditcane™: I work(ed) at MF Global...
SPXBearish long day (evening star confirmed). Midpoint below EMA(10). Tested and failed SMA(89). Failing the 38.2% retrace (1241.13). Daily 3LB reversal down (reversal is 1285.09). QE2infinity. Back below monthly 3LB mid.
DXYBullish long day. Midpoint above EMA(10). Tested and held the 61.8% retrace (77.27). Tested and held SMA(21). Daily 3LB reversal up (reversal is 74.88). Not confirming the monthly 3LB reversal up.
VIXSpinning top day. Midpoint above EMA(10). Tested and held SMA(55). Held its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). Ran back into the hands of the "fear" zone.
GOLDBullish short day. Midpoint above EMA(10). Held its 38.2% retrace (1714.40). Failing SMA(55). No daily 3LB changes (reversal is 1757.30). Still above daily 3LB mid. Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 61.8% retrace (1.3847). Daily 3LB reversal down (reversal is 1.4201).
JNKBearish short day. Midpoint below EMA(10). Tested and failed SMA(89). Tested and failed its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).
10YR YIELDBearish short day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). Daily 3LB reversal down (reversal is 23.95).
WTIBearish short day (confirming second hanging man). Held above SMA(89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (92.96). No dally 3LB changes (reversal is 88.53). Not confirming the monthly 3LB reversal down.
SILVERBearish short day (evening star confirmed). Tested and held SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).
BKXBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).
HYG/LQDBearish short day (after huge gap lower). Now failing all SMA's. Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (0.7592). Daily 3LB reversal down (reversal is 0.7966).
USDJPYSpinning top day. Midpoint above EMA(10). Tested and failed SMA(144). Tested and held its 38.2% minor retrace (78.074). New high on daily 3LB (reversal is 75.70). Let's see how long this lasts.
TLTSpinning top day. Midpoint above EMA(10). Now above all SMA's. Tested and failed its 38.2% minor retrace (118.79). New high on daily 3LB (reversal is 110.24).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
7 comments:
AmenRa,
re: Silver
w/this: "Bearish short day (evening star confirmed)"
could you elaborate?
Gracias!~
also, nice Chartage, + that Creditcane(TM)-series makes me laugh/is funny~!
AAIP
AAIP
An evening star is a three day reversal pattern which is formed in an uptrend. Confirmation happens with a lower close the following day. The evening star is a long bullish day, followed by a small day that gaps higher and then completed with a bearish day that closes well into the body of the long day. The fourth day then confirms the reversal pattern.
AmenRa,
talk about a 'Textbook' explanation..~
Thanks~!
AAIP
Creditors Always Pay, Keep Your Gold As Currencies Become Worthless
London (BullionVault.com) - The world has endured these sorts of crises before. Somehow they come to an end. What happens?
Sometimes, someone turns up who can prop up the collapsing debt mountain, and they make it grow higher, for a little bit longer. For a short while they are even called brilliant, but they leave a bigger problem than they started with. Eventually the thing comes crashing down and the creditors pay – always.
Whether the creditor pays through default or rapid inflation, or the mandated acquisition of government bonds by their pension fund, or the sequestration of their deposits, the result is the same: it’s always the creditor who pays.
And so they should. They lent the money, and they receive interest for taking the risk of lending. It doesn’t work well if they can take the interest without the risk – for which we need only look at the nonsense of naked CDSs! No – as some bondholders are currently finding out, the creditor always pays.
By and large the creditors in the west are the holders of about $100 trillion worth of currency denominated assets (bonds and deposits) mostly owned by savings institutions which themselves have been pumped up through tax incentives to save. Their owners are the people who are going to pay. That is good news and bad. Good for our children, who will not be saddled with this debt, and bad for us, as we will get pensions – paid in full – that buy a sandwich a month....
http://babybulltwits.wordpress.com/2011/10/31/creditors-always-pay-keep-your-gold-as-currencies-become-worthless/#more-8810
....
....But until the bill finally lands on the mat, lots of earnest arguments and skilful men and women will turn up, occasionally even offering a glimmer of hope that somehow the creditors will not end up paying. Some will usher in false hopes, but the hopes will fade, until eventually – when the debt has finally become near worthless, and when even the savers realise it is so – some lucky individual will announce that the money printing and the devaluation is over. Then suddenly, as if by magic, it will be. This person will be the 20th or the 50th Treasury Secretary to make the announcement, but the announcement will stick, because everyone has accepted that the value of the old debt is finally zero.
Only then will growth start over.
All currency denominated assets will by then be effectively worthless. Until then volatility in a generally downwards direction will be the norm as false dawns get debated, and implemented, and fail. It will be very difficult to spot the end of the process, because it will only happen when finally almost everyone assumes every monetary initiative will fail.
That is a necessary condition for a return to sensible money.
That – at any rate – was how these things got resolved in the past. It’s not very encouraging is it? Sorry.
I find my interest is shifting from the collapse, which is well underway, and which will go on in its chaotic way for a few years and will eventually consume the hugely indebted UK and USA economies, as well as the Japanese and the Europeans. Now I am wondering how to detect the nearing end of the process, when some wonderful profitable and productive opportunities will arise. We will then have the wind at our backs, with sound money and naturally re-emerging demand (albeit from a low base). In the meantime I will sit on my gold through the rises and the falls, and remind myself whenever I’m tempted to sell – which is frequently – that it’s the creditors who pay, always. Until they have I must not get involved.
By the way, just in case I didn’t mention it: THE CREDITORS ALWAYS PAY.
Settlement-systems specialist Paul Tustain launched BullionVault in 2005 to make the security and cost-efficiencies of the professional wholesale gold market available to private investors. Designed specifically to meet his own gold ownership needs as a risk-averse investor, BullionVault now cares for over US$1.4bn of client gold property, all of it privately owned in the user’s choice of low-cost, market-accredited facilities in London, New York or Zurich.
http://babybulltwits.wordpress.com/2011/10/31/creditors-always-pay-keep-your-gold-as-currencies-become-worthless/#more-8810
interesting Marketing tool, at the min.~
ibid.
I wonder when the FuzzyOne, aka Barry ritholtz, is going to start blasting Corzine? This will be real test for him. If he's really just a Javits Republican and not merely just a money manager/shill for public unions then he should come down very hard on the MFGlobal guys...in the same way he hammered the mortgage guys.
Not holding my breath....
But, we'll see.
AAIP
2012
The Mayans didn't say the world would end but the calendar cycle begins anew.
"A baktun (properly b'ak'tun) is 20 katun cycles of the ancient Maya Long Count Calendar. It contains 144,000 days, equivalent to 394.52 tropical years. The Classic period of Maya civilization occurred during the 8th and 9th baktuns of the current calendrical cycle. The current (13th) baktun will end, or be completed, on 13.0.0.0.0 (December 21, 2012 using the GMT correlation). This also marks the beginning of the 14th baktun, as such a term is usually used among Mayanists."
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