Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held the new 0.0% retrace (1426.68). Daily 3LB reversal up (reversal is 1399.48). QE2infinity.
Bearish short day. Midpoint below EMA(10). Still failing the 61.8% minor retrace (81.51). Tested and failed SMA(144). No dally 3LB changes (reversal is 81.37).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Still failing its 61.8% minor retrace (18.81). Daily 3LB reversal down (reversal is 17.98).
Bullish short day. Midpoint above EMA(10). Holding above its 50.0% retrace (1668.00). Still above all SMA's. New high on daily 3LB (reversal is 1675.60). Must have the precious.
Bullish short day. Midpoint above EMA(10). Holding above SMA(89). Tested and held its 50.0% minor retrace (1.2636). New high on daily 3LB (reversal is 1.2568).
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Holding above its 50.0% minor retrace (39.86). No daily 3LB changes (reversal is 40.14).
Bullish short day. Tested and held SMA(89). Midpoint above EMA(10). Still failing its 38.2% minor retrace (17.47). Daily 3LB reversal up (reversal is 15.62).
Bearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Tested and failed its 38.2% retrace (95.94). No dally 3LB changes (reversal is 97.26).
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (32.15). New high on daily 3LB (reversal is 31.14).
Bullish long day. Midpoint above EMA(10). Now above all SMA's. Holding above its 61.8% retrace (46.14). Daily 3LB reversal up (reversal is 46.89).
Bullish long day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (0.7678). No daily 3LB changes (reversal is 0.7738).
Spinning top day. Midpoint above EMA(10). Holding above SMA(89). Holding above its 61.8% minor retrace (3.430). No daily 3LB changes (reversal is 3.546).
Bullish short day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 0.0% retrace (674.88). New high on daily 3LB (reversal is 665.15).
Bullish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 38.2% retrace (4966.03). No daily 3LB changes (reversal is 4847.73).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
9 comments:
Sell the news?
NFP 96k, Private 103k
U3 8.1%, previous 8.3%
U6 14.7%, previous 15.0%
Temporary -4.9k, Part Time -215k
Wkly Hrs 34.4, previous 34.4
LFPR (Labor Force Participation Rate) 63.5, previous 63.7
Oh yeah B/D 87k
Civilian Labor Force -368k
Not in Labor Force +581k
This is pretty good: http://www.zerohedge.com/contributed/2012-09-07/marios-shock-and-awe
Bruce Krasting on Mario Draghi's grand plan.
Succinct and to the point on what the Fed can and cannot buy: http://www.zerohedge.com/news/scary-math-behind-mechanics-qe3-and-why-bernankes-hands-may-be-tied
The upper trend line (highs from week of 5/6/11 & 4/6/12) is around 1450. Just sayin'.
Geezus there's AAPL, FOMC and Germany's highest court all on 9/12/12. AAPL and FOMC are kryptonite for the bears. Germany is 50/50.
New post (actually got it up early) :-)
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