EUFN (weekly info)-no change (below mid)
trend=no
direction=down (1 bar)
low= 13.82
rev= 18.27; mid= 16.05
The EUFN (MSCI EU Financials) made a decent move last week (rumors) but didn't close above the weekly 3LB mid. It's trying to hold the mid this week. It tested and is failing the 61.8% minor retrace. It made it above SMA(13) but hasn't touched SMA(21). Swimming against the current.
XLF (weekly info)-no change (above mid)
trend=no
direction=up (1 bar)
high= 14.05
rev= 11.68; mid= 12.87
XLF has bested SMA(13) and SMA(21) this week. Last week it closed above the 38.2% retrace and is still holding above it. So far this week the weekly candle doesn't look too promising.
16 comments:
this site:
http://www.sott.net/
has some, really, interesting pieces..
safe to say, none that we'll hear, from Katie y Freunde, anytime soon..
AAIP
European Central Bank Cuts Rate as Crisis Rages
The European Central Bank cut its main interest rate by 25 basis points to 1.0 percent on Thursday as the euro zone's worsening debt crisis outweighed the concern over persistently high inflation.
CNBC's main headline today...sort of the anti-Volcker decision, non?
What I can't understand was why on Earth did the ECB raise rates in July????
the entire EU was on the edge of a debt crisis and they go and raise rates
ben22
The ECB was worried about inflation. Everything else was secondary...at the time.
Draghi: "lending money to IMF to buy Euro bonds is not compatible with the treaty".
You ever have the dream where you're falling and right before you hit the ground you wake up? Well the Eurozone just woke up and realized that they are really falling.
Ra,
I know what they were worried about, thats what I'm say, it was not a warranted concern, therefore their choice made no sense, at all.
the fact that they were worried about inflation alllll the way back in July, is truly, hystercial, to me.
as if there were no signs whatsoever of stress in credit markets there at the time....
Just feels like we're going to be in a meat grinder through the end of the year....
Maybe get a "pop" in the last week to "dress" things up a bit....
But, looks more like a meat grinder.
the bigger meat grinder started about 3256 trading days ago when the SPX first hit $1244... Dec-98 high
The BIGGER meat grinder started on December 23, 1913...
There... fixed it...
The rumors better start coming out fast and furious or May 6 morphs into Dec 8.
These small moves higher on the SPX makes it easier for a daily 3LB reversal to occur. Just sayin'
big-Bigger-BIGGEST! [yeh, END-the-FED]
got it!
B
U
L
L
P
ØBAMA
O
P
"Have to start doing what's good for the country"
start now??... HA
"new businesses"...
like Solyndra?
Ra, looks like we're heading that way.
cashing in most SDS calls bot this week way above 1244, so far, seems this is the line. will hold the rest over the weekend.
18's
1244
1194
1162
18
Your 1244 and my 38.2% retrace (1241.13) acting as support. Here's to the floor being infested with termites (or should that be thermite).
Andy T
Wasn't your top/resistance around 1270?
Rumor half life now 30 minutes.
Post a Comment