Creditcane™: As goes January so goes the year...unless I'm around.
SPXBullish long day. Midpoint above EMA(10). Tested and held SMA(233). Holding above the 38.2% retrace (1241.13). New high on daily 3LB (reversal is 1254.00). QE2infinity. Still above weekly 3LB mid and the monthly 3LB mid.
DXYBearish long day. Midpoint below EMA(10). Failing the 0.0% retrace (80.39). Tested and failed SMA(21). No daily 3LB changes (reversal is 79.14).
VIXDoji day. Midpoint below EMA(10). Failing all SMA's. Holding above its 38.2% minor retrace (21.62). No daily 3LB changes (reversal is 20.73). The grip of the "fear" zone has been eliminated (for now).
GOLDBullish long day. Midpoint below EMA(10). Tested and held its 61.8% retrace (1592.30). Tested and held SMA(233). Daily 3LB reversal up (reversal is 1540.90). Must have the precious.
EURUSDSpinning top day. Midpoint above EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.3022). Daily 3LB reversal up (reversal is 1.2947).
JNKBearish short day. Midpoint above EMA(10). Holding above SMA(144). Holding above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.94).
10YR YIELDBullish short day. 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).
WTIBullish long day. Now above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% retrace (101.94). New high on dally 3LB (reversal is 98.67). Not confirming the monthly 3LB reversal down.
SILVERBullish long day. Failing all SMA's. Midpoint below EMA(10). Holding above its 100.0% minor retrace (26.44). Daily 3LB reversal up (reversal is 27.24).
BKXBullish long day. Midpoint above EMA(10). Tested and held SMA(144). Holding above its 61.8% minor retrace (38.43). Daily 3LB reversal up (reversal is 34.72).
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).
EEMSpinning top day. Midpoint above EMA(10). Tested and held SMA(55,89). Holding above its 61.8% minor retrace (38.06). No daily 3LB changes (reversal is 36.10).
COPPERBullish long day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and held its 61.8% minor retrace (3.452). No daily 3LB changes (reversal is 3.615).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
16 comments:
Hard to believe this santorum guy getting the votes in Iowa. That's how much the hard core gop'ers don't want Romney.
Fwiw, Romney is the GOP's best chance against the obmanator.
Pretty solid day for the sp500. Seems headed for those targets highlighted yday. Oh well.
Santorum's 'support' is good ex. of how vacuous the 'Cained 'electorate' is..
most believe that if they scan 3-4 'Headlines', then, they're *Informed..
ibid.
1) Elizabeth Warren and the 'New' Redistributionism
U.S. Senate candidate Elizabeth Warren rattled conservatives and libertarians in September when she appeared in a widely viewed video in which she scolded wealthy Americans who believe they are morally entitled to enjoy all the fruits of their labor. "There is nobody in this country who got rich on his own," the Massachusetts politician exclaimed. "Part of the underlying social contract is you take a hunk of [your fortune] and pay forward for the next kid who comes along." Warren, however, conceded that the proverbial rich factory owner is entitled to keep a "big hunk" of the wealth generated by the factory, and her critics should not discount the importance of that concession, according to Independent Institute Senior Fellow Robert Higgs. READ MORE
Government Officials Want You to Know that Your Earnings Belong to Them, by Robert Higgs (Also posted on BigGoverment.com, 12/30/11)
http://biggovernment.com/rhiggs/2011/12/30/government-officials-want-you-to-know-that-your-earnings-belong-to-them/
Wartime Origins of Modern Income-Tax Withholding, by Robert Higgs (The Freeman, November, 2007)
http://www.independent.org/newsroom/article.asp?id=2092
http://www.independent.org/publications/the_lighthouse/
AAIP
Andy T
SPX is about to hit your targets faster than even I expected.
Quotage..
"We are students of words; we are shut up in schools, and colleges,
and recitation rooms, for ten or fifteen years, and come out at last
with a bag of wind, a memory of words, and do not know a thing."
-- Ralph Waldo Emerson
(1803-1882)
http://quotes.liberty-tree.ca/quote_blog/Ralph.Waldo.Emerson.Quote.579F
"Every politician, every member of the clerical profession,
ought to incur the reasonable suspicion of being an interested
supporter of false doctrines, who becomes angry at opposition,
and endeavors to cast an odium on free inquiry.
Fraud and falsehood only dread examination. Truth invites it."
-- Thomas Cooper
(1759-1839)
Source: Liberty of the Press, 1830
http://quotes.liberty-tree.ca/quote_blog/Thomas.Cooper.Quote.38E6
"With devotion's visage and pious action
we do sugar o'er the devil himself."
-- William Shakespeare
(1564-1616) Playwright
http://quotes.liberty-tree.ca/quote_blog/William.Shakespeare.Quote.E79E
AAIP
Hard to believe this santorum guy getting the votes in Iowa. That's how much the hard core gop'ers don't want Romney.
How is that hard to believe?
- When both Drugde & Politico run straw polls on the same day (the Drudge one got over a million votes in it's poll - while Iowa itself was a little over 100,000)... & Ron Paul wins by 32% to 27% to less than 20% for Santorum...
- Then, In Iowa, you count the ballots in a 'secret' location (in Illinois)...
- Then Romney beats Santorum by some bullshit 8 votes in the Iowa votes...
---
Well - To me it's kind of like looking at the S&P and seeing that it closed 2011 EXACTLY as it did in 2010, then 'gapping up' on the first trading day of the year (just like last year)...
Any 'mathemeticians' out there that want to run me some odds on all of that?
But y'all can go on believing whatever you want... The water seems right cozy (& the frogs seem to enjoy bathing in it)...
http://www.bloomberg.com/news/2012-01-04/french-consumer-spending-falls-on-joblessness-euro-debt-crisis.html
"French consumer spending (FRSNMANM) slid in November as surging joblessness and concern about the European debt crisis prompted households to cut back.
Spending fell 0.1 percent from October, when it rose a revised 0.1 percent, national statistics office Insee said today in an e-mailed statement. Spending fell 2.1 percent from the year-earlier period.
Stagnant household demand reflects concern about earning prospects amid rising joblessness and mounting concern that the euro area is entering a recession. President Nicolas Sarkozy’s renewed effort to trim the budget deficit at a time when Europe’s debt crisis is hurting confidence may restrain spending growth in the months ahead, economists have said.
“The French economy is likely to have stalled in the last quarter of 2011 given the sharp deterioration in confidence across the board,” according to the Organization for Economic Cooperation and Development."
...Well, when Europe is catching the plague, and you decide to treat it yourself, sometimes you can catch it too..
..Wonder if the Germans are going to continue as this thing unfolds...
"The water seems right cozy (& the frogs seem to enjoy bathing in it)..."
it's, too much, exactly like that..
AAIP
cv--
you fadin' the Mountaineers, to-nite?
@AAIP (9:29)
What confounds me (on the 'frogs' subject - which rhymes with 'blogs', btw) is this...
http://www.zerohedge.com/news/stunner-bank-america-responsible-14-projected-2012-sp500-earnings-growth#comment-2032512
So basically... Insolvent BAC is going to account for 20 S&P points (most of ANY component), and yet there are those who take the S&P seriously... UFB...
---
Mountaineeers...
Yeah... I'm FADING WVU... But full disclosure... I've been SUCKING at my college bowl picks as usual (well below 50%)...
AAIP.
I'm not a "fan" of Lizzy Warren....at all.
Oh boy. Morningstar going to reveal the Fund Manager of the Year.
Can't wait.
So the correlation of SPX - EURUSD is breaking down? How about DXY - US bonds? Or DXY - Gold? WTH is going on?
@AmenRa (12:59)
I told you last week (on this blog)... It's Euro:Gold... Bruce proceeded to tell me none of what I say makes any sense...
You can't see it today (because Citi put a $2400 price target today, some are chasing that, and thus it looks skewed)...
Over time... 2012... Euro:Gold
I spent many words last week explaining why (why a failed Euro would represent a setback in the hopes of the NWO'ists)...
- QE3 is being handled by SWAPS
- The dollar may be in flux due to tensions in Iran... If the Europeans aren't buying oil from Iran, the Chinese will buy it from them in Yuan (& the Iranians will gladly take it)...
Gold is hitching itself to the Euro in the process... But don't listen to anything I say...
re: NFP
Market Consensus Before Announcement
Special note: This release incorporates new seasonal factors for the Household Survey, including the unemployment rate. This will lead to small changes in the unemployment rate for some months going back to 2007. Consensus numbers were surveyed prior to the release of the new seasonal factors. Payroll data will get new seasonal factors next month.
http://mam.econoday.com/byshoweventfull.asp?fid=451275&cust=mam&year=2012&lid=0#top
Danger Will "Bears Rule" Robinson! Danger!
CV:
I think that you could more summarize what I said in that I think you are self-destructive. Not that you never make sense.
Big difference.
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