Creditcane™: I learned the secret handshake of taking the market lower on low volume.
SPXBearish long day. Midpoint above EMA(10). Tested and failed SMA(233). Holding above the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1243.72). QE2infinity. Still above weekly 3LB mid and the monthly 3LB mid.
DXYBullish long day. Midpoint above EMA(10). Tested and held the 0.0% retrace (80.39). Still above all SMA's. No daily 3LB changes (reversal is 79.14). Confirming the monthly 3LB reversal up.
VIXBullish long day. Midpoint below EMA(10). Failing all SMA's. Holding above its 38.2% minor retrace (21.62). Daily 3LB reversal up (reversal is 20.73). The grip of the "fear" zone has been eliminated (for now).
GOLDBearish long day. Midpoint below EMA(10). Tested and failed its 61.8% retrace (1592.30). Tested and failed SMA(233). New low on daily 3LB (reversal is 1794.80). Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 0.0% retrace (1.3022). New low on daily 3LB (reversal is 1.3199).
JNKSpinning top day (also gapped lower). Midpoint below EMA(10). Tested and failed SMA(144). Tested and held its 50.0% retrace (38.24). Daily 3LB reversal down (reversal is 38.94).
10YR YIELDBearish long day (confirmed bearish harami). Tested and failed SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (18.96). No daily 3LB changes (reversal is 20.68).
WTIBearish long day. Holding above all SMA's. Midpoint above EMA(10). Holding above its 50.0% retrace (97.56). No dally 3LB changes (reversal is 94.07). Not confirming the monthly 3LB reversal down.
SILVERBearish long day. Failing all SMA's. Midpoint below EMA(10). Failing its 61.8% minor retrace (29.76). New low on daily 3LB (reversal is 28.94).
BKXBearish long day. Midpoint above EMA(10). Holding above SMA(55). Holding above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).
HYG/LQDSpinning top day. Holding above SMA(144). Midpoint above EMA(10). Failing its 50.0% retrace (0.7942). No daily 3LB changes (reversal is 0.7818).
AUDJPYSpinning top day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed the 38.2% retrace (0.7841). No daily 3LB changes (reversal is 0.8231).
COPPERBearish long day. Midpoint below EMA(10). Tested and failed SMA(21,55). Tested and failed its 50.0% minor retrace (3.384). No daily 3LB changes (reversal is 3.615).
EUFNBullish short day. Midpoint below EMA(10). Failing all SMA's. Failing its 38.2% minor retrace (15.38). No daily 3LB changes (reversal is 15.84).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
15 comments:
EUFN = iShares MSCI EU Financials Index
AmenRa,
nice Charts~ Qual. Wrappage!
~~
cv--
Who do you like in the Ravens v. Bengals tilt?
also, what about the NYG v. 'Pokes match-up, in NJ?
AAIP
Amen:
I think the global markets have morphed from a liquidity problem at the Lehman bust to now a chronic insolvency problem. I doubt liquidity plays much of a part, unless as it appears in Europe, banks getting cautious part II, liquidity dries up because of underlying insolvency.
Italy long term tomorrow will be of interest.
AAIP
Whoever needs the win the most would be my guess.
AmenRa,
that's the thing, or part of it..
it's 'Win, and In', for NYG v. Dal. contest..
and, Bal. has the #1 Seed possible, if they Win..
Cin. could get 'bounced out', if they Lose..
ibid.
It appears a challenge to the SNB is in the works as EURCHF keeps heading lower.
Michigan Borrows Record $3.3 Billion in Debt to Repay Unemployment Costs
@AAIP
My philosophy on "must win" games is if you're IN ONE, you're probably not very good to begin with... Which basically means I think it's a better proposition to bet that you're going to choke...
Cincinnati is in "must win", the Ravens aren't (although they are battling for a BYE versus having to go on the road for a wildcard game)...
Anyway, there's more PRESSURE on the Bengals...
I'll forgive the Ravens loss to the Chargers... The Chargers were red hot in that moment, plus, they have voodoo with thos powder blue jerseys in home night games... The Bengals should have lost last week (vs. Cardinals), but Early Doucet dropped a perfect pass while he was wide open in the end zone so the Bengals got lucky... They couldn't even beat the spread vs. the Rams the week before...
Normally the Bengals play tough vs. the Ravens, but I like the Ravens here... If anything, a Ravens win would mean that they SWEEP the AFC North (2-0 vs. Steelers, Browns, Bengals)... I think they realize that & will play hard...
GIANTS - COWBOYS
Both are in "must win" situations (so they both suck)... I dunno... I think the Cowboys are better "choke artists" than the Giants... Besides, probably one New York team has to be in the post season (and the Jets might be "looking in" this time)... They had their chance last week vs. the Giants &... drumroll... choked...
Oddly enough, if the Jets (& Bengals, above) lose this week & the Raiders win, the Raiders are IN... I think that has a good chance of happening...
At the beginning of the season, I picked the Patriots & Ravens to be #1 & #2 seeds in the AFC, & I predicted the Packers - Saints to play for the NFC Championship...
I'm still sticking by those picks...
http://globaleconomicanalysis.blogspot.com/2011/12/mish-2012-predictions-2011-year-in.html?x#echocomments
...Last year he was pretty close...
Is it me or are they trying to close the year positive on the SPX? It's not that big of a deal but it's funny.
Another thing. DXY up, US bonds down. How long can this disconnect last?
@Amen (9:49)
I dunno about SPX, but they're sure trying to get silver & gold to close flat (to down) on the year... Looks like it'll work with Ag... Au has a little ways to go...
A way of saying... "Look people... Au & Ag are bad INWESTMENTS... Better stick to paper & NFLX...
Last I checked, if I wanted to, I could buy (or sell a brazillion shares (using fiat paper) of NFLX as easy as a snap of a finger...
yesterday (after two weeks wait), I went into 2 of the same 3 coin shops that I'd visited & discussed here on this blog... Again... NOTHING DOING... None of them would part with an ounce... I asked them... AGAIN... "Dudes, this could go on for months (a paper correction), how are you guys going to pay your rent if you just hold inventory and don't sell anything"... They had no idea...
Next week I'll try again... But I'm going to try a new strategy... I'm going to wear a wide brimmed hat & a fake mustache... I'm going to tell them that my name is QQQQ... I'm pretty sure that then they'll sell me all the gold I want (probably at a discount)...
I'm going to make a caveat to what I just wrote...
This is REALITY folks... Look - I'm sure that an industrious person could run around to every coin shop in their area and probably find SOMEONE who would deal... Maybe I'm just unlucky... But I believe that this same thing is going on in more places than anyone would care to admit...
Sure... You could still go ONLINE (to Ampex or something), and probably find a dealer... The problem (as I said last time IS NOT with regards to INVENTORY, it's with regards to PRICE)...
I'm not a believer in ONLINE purchases... In fact, I think anyone who makes an online purchase is an idiot... The reasons why are obvious (& numerous)...
Paper prices (on gold & silver) can easily be manipulated because it's a relatively small market... It's also probably a situation where there are either forced liquidations (raising cash) for fund equity withdrawls that will come after the end of the quarter... Funds that held GLD & SLV etfs are most likely being sold to some degree (some who were in at the beginning might be locking in whatever profits they may still have, others who got in late might be tax loss selling)... I have no clue... The MF Global thing probably didn't help either...
So you can talk "paper" spot prices all you want, but they (from my view), have little to do with transacting in physical bullion as we speak... We're seeing the first signs of disconnect...
Oh yeah... & remember... They'd be happy to BUY any bullion I might have at the moment (at spot paper prices, of course)...
FWIW - at this point I wouldn't be surprised to see a correction (in silver) go all the way back to $21 if they draw this out... $26 would have to be broken in a decisive way first...
In any case... It doesn't really matter because its already hard to get someone to part with physical (here at $26), so good luck getting any at $21...
Or if you just want to buy an etf... Then I can't help you because you're an idiot...
cv--
re: Raiders, yes, I think that's a possibility, too..
and, was leanin' toward NYG, as well..
and, speaking of 'idiots', one thing that, still, amazes me is, in Dallas, peep line up, and lay down U$D ~25/head for 'tours' of "Cowboy Stadium" -- Busloads come by 'for the experience' ..
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus-ns-aaf&v%3Aproject=clusty&query=tours+of+Dallas+Cowboys+Stadium
AAIP
cv... this is one of the places I have bought gold and silver, coins and bullion from. On occasion they may be out of some things, but I have never seen them out of everything. Many years ago, I started buying swiss francs from them for about $45. I've sold all of them though, a bit early I may add but still made 300-500%.
California Numismatic... oh, and ask for Henry, think I've bought/sold through him 4 or 5 times out of the last 10 times.
anyway, look through the site. If it says "Not Available" then they are out of that product, temporarily.
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