"You would think that after being burned they would avoid putting their hands in the fire. Guess they didn't learn the lesson the first time."
Creditcane™: Credit sees me on the radar. Equities are flying blind.
SPXBullish short day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Still below monthly & daily 3LB mids.
DXYBearish thrusting day. Midpoint above EMA(10). Holding above the 62.8% retrace (77.27). Holding above all SMA's. No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.
VIXSpinning top day (possible bearish harami). Midpoint above EMA(10). Tested and failed SMA(55). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone is strong.
GOLDBearish short day. Midpoint above EMA(10). Failing its 61.8% minor retrace (1792.10). Still above all SMA's. No daily 3LB changes (reversal is 1639.80). Must have the precious.
EURUSDBullish thrusting day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 61.8% minor retrace (1.3596). No daily 3LB changes (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 YIELDSpinning top day (day 7 of not closing gap). Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 22.32).
WTIBullish long day. Tested and held SMA(233). Midpoint above EMA(10). Tested and held its 50.0% retrace (97.35). New high on dally 3LB (reversal is 94.26). Not confirming the monthly 3LB reversal down.
SILVERBullish short day. Holding above SMA(21). Midpoint below EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).
BKXSpinning top day (possible bearish harami). Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).
HYG/LQDBearish short day. Tested and failed SMA(21). Midpoint below EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).
USDJPYBearish short day. Midpoint above EMA(10). Failing SMA(144). Tested and failed its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts.
IT HAS BEGUN. YOU HAVE BEEN WARNED.
4 comments:
Ra,
bottom thread, very good point on the sticks today man. thanks for the wrap up as always.
ibid,
I've learned an awful lot from that self evident site, try to check it every few days to see if there is a new post, usually some solid info there I have to read a few times to really understand
cv,
that article you linked, crazy, and fishy.....not really sure what to think about it, maybe it's not related, maybe it is, and this is even darker than my imagination will allow.
McB,
yes, I was being serious, on previous thread..
the 'self-evident'-Site is a Good one..~
AAIP
JNK closed down pretty good yet equities closed near the highs? Why the disconnect?
There were notable dislocations in various market segments today. Equities, the most visible segment, happened to be on the winning side.
If you just look at the fixed income ETFs, it was one of those rare bloodbaths across the board--high to low quality.
There are lots of opportunities to play high vol. assets on the long side, but I think your bias should be to fade rallies.
I think that corporate bonds are going to be a great rotational trade over the next 5 to 10 years. I look to buy high yield when it is oversold and rotate into IGs when cooler heads prevail. I have a core position IGs, TIPS, and utilities that I keep no matter what; the other risk assets simple trade weights with each other around the core.
I win some and lose some, but the coupons keep me straight.
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