"Looks like you're getting tired. I'm going to catch you soon."
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bearish short day (didn't confirm shooting star). Midpoint above EMA(10). Still above all SMA's. Tested and failed the new 0.0% retrace (1463.76). No daily 3LB changes (reversal is 1432.12). QE2infinity.
Bullish harami day. Midpoint below EMA(10). Tested and held the 50.0% retrace (78.72). Still failing all SMA's. No dally 3LB changes (reversal is 79.89).
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Holding above its 0.0% retrace (14.27). No daily 3LB changes (reversal is 17.82).
Spinning top day. Midpoint above EMA(10). Holding above its 38.2% retrace (1730.90). Still above all SMA's. No daily 3LB changes (reversal is 1705.60). Must have the precious.
Spinning top day (evening star forming?). Midpoint above EMA(10). Still above all SMA's. Tested and failed its 38.2% retrace (1.3124). No daily 3LB changes (reversal is 1.2870).
Dragonfly doji day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.38).
Spinning top day. Holding above SMA(144). Midpoint above EMA(10). Tested and failed its 50.0% minor retrace (18.42). No daily 3LB changes (reversal is 16.82).
Bearish engulfing day. Tested and failed SMA(233). Midpoint above EMA(10). Tested and held its 38.2% retrace (95.94). No dally 3LB changes (reversal is 94.62).
Bearish short day (confirmed bearish harami). Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (32.15). No daily 3LB changes (reversal is 32.41).
Bearish long day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 61.8% minor retrace (50.92). No daily 3LB changes (reversal is 49.29).
Bearish short day. Still above all SMA's. Midpoint above EMA(10). Holding above its 61.8% minor retrace (0.7765). No daily 3LB changes (reversal is 0.7645).
Hanging man day (also bearish harami). Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.688).
Dragonfly doji day. Still above all SMA's. Midpoint above EMA(10). Tested and held its new 0.0% retrace (696.98). New high on daily 3LB (reversal is 662.74).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
2 comments:
http://www.businessweek.com/articles/2012-09-17/here-comes-the-big-manufacturing-slowdown
"For the second straight month, manufacturing activity in the New York region slowed, this time to the lowest level since April 2009, during the worst of the global recession. The Federal Reserve Bank of New York’s Empire Manufacturing Survey dropped to a minus 10.4 reading in September, nearly double the slowdown from August’s reading of minus 5.85, and five times as bad as the median forecast of the 53 economists surveyed by Bloomberg, which called for a reading of minus 2. The slowdown was broad and deep, from new orders and shipments to employment. All sank more than expected."
"This would be less of a problem if it were just a regional slump. But the New York data is clearly part of a much bigger trend. Last week, the Fed reported a sharp contraction in the country’s industrial output, which showed that production from factories, mines, and utilities fell by 1.2 percent last month—the biggest drop since 2009 and also well below expectations. Slowing U.S. exports have pushed the monthly trade deficit in manufactured goods to a record $63.9 billion. After creating 500,000 jobs since 2010, factories are starting to cut workers."
BinT
Manufacturing is in trouble. I should start keeping tabs on railroads to see if it shoes there first.
New post up.
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