Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bullish short day (tail too short for hammer). Midpoint below EMA(10). Still failing all SMA's. Still failing the 61.8% minor retrace (1383.13). No daily 3LB changes (reversal is 1377.51). QE2infinity. Still below all trend lines and RSI(14) still below 50.
Bullish short day. Midpoint above EMA(10). Holding above the 38.2% retrace (79.97). Tested and held SMA(89). New high on dally 3LB (reversal is 81.07).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing its 61.8% minor retrace (18.81). New low on daily 3LB (reversal is 18.82).
Bearish short day. Midpoint below EMA(10). Still failing its 38.2% retrace (1730.90). Tested and failed SMA(21). No daily 3LB changes (reversal is 1675.20). Must have the precious.
Bearish short day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 61.8% minor retrace (1.2759). No daily 3LB changes (reversal is 1.2709).
Spinning top day (weak confirmation of bullish harami). Midpoint below EMA(10). Tested and held SMA(144). Tested and held its 38.2% minor retrace (39.62). No daily 3LB changes (reversal is 39.93).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). New low on daily 3LB (reversal is 16.13).
Bullish long day. Tested and held SMA(21). Midpoint below EMA(10). Still failing its 38.2% minor retrace (87.97). No dally 3LB changes (reversal is 89.14).
Spinning top day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (32.24). No daily 3LB changes (reversal is 31.62).
Hammer day (also confirmed bullish harami). Midpoint below EMA(10). Tested and held SMA(144). Still failing its 38.2% minor retrace (49.10). No daily 3LB changes (reversal is 48.39).
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 0.0% retrace (0.7536). No daily 3LB changes (reversal is 0.7515).
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 61.8% minor retrace (3.443). No daily 3LB changes (reversal is 3.494).
Hammer day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 50.0% retrace (509.60). Still failing BB(2,200). No daily 3LB changes (reversal is 558.00).
Bearish short day. Midpoint above EMA(10). Still failing SMA(233). Holding above its 38.2% retrace (557.71). No daily 3LB changes (reversal is 565.17).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
http://www.dailymail.co.uk/news/article-2233221/Dennys-charge-5-Obamacare-surcharge-cut-employee-hours-deal-cost-legislation.html
...This is posted on the 11/14 date. But a couple of thoughts. For low income workers with minimal skills, this may be a problem. As the story states, owners are deciding whether each employee is worth the cost of Obamacare. If so, they get a 5k raise in 2013 if they didn't have health care coverage. If not, two solutions. First they are kept on at long-term part-time rates of under 30 hrs/week, and at least they have a job. I imagine there will be many pink slips of the waitresses, fry-cooks, shoe salesmen, and so forth in America in December.
Weekly 3LB Update 11.16.12
Really?!? Futures are this much higher on what? The BS coming out of Congress? There is no fix. Just another episode of kick the can. Let me guess. They want to retake the 200SMA/EMA before the holiday.
Ha. SPX cash till couldn't gap higher at the open even though futures were screaming for one. Let's see if this is enough to keep the SPX from closing lower. I doubt it. Remember the higher the SPX the less chance of a fiscal cliff resolution.
Opened with a squeeze and closed with a squeeze. Didn't do much else between the open and close. Another low volume melt up. Fundamentals be damned.
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