In a secret room in the subbasement of 33 Liberty Street...
In brightest day, in blackest night,
No shorts shall escape my sight
Let those who worship the shorts might,
Beware my power, PPT's light!!!
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bullish long day. Midpoint above EMA(10). Tested and failed SMA(21,55). Tested and held the 38.2% minor retrace (1416.67). No daily 3LB changes (reversal is 1459.99). QE2infinity. Still below all trend lines and RSI(14) still below 50.
Bearish short day. Midpoint above EMA(10). Holding above the 38.2% retrace (79.97). Holding above SMA(55). No dally 3LB changes (reversal is 79.22).
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(144). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 14.05).
Bullish long day (confirmed bullish harami). Midpoint below EMA(10). Still failing its 38.2% retrace (1730.90). Tested and held SMA(89). No daily 3LB changes (reversal is 1724.00). Must have the precious.
Bullish short day. Midpoint below EMA(10). Still failing SMA(55). Still failing its 38.2% retrace (1.3127). No daily 3LB changes (reversal is 1.3132).
Spinning top day. Midpoint below EMA(10). Tested and held SMA(55). Holding above its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.73).
Bullish long day. Tested and held SMA(21,55,144). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 18.70).
Bullish long day (guess it was bullish piercing & not thrusting). Tested and failed SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (87.97). Dally 3LB reversal up (reversal is 84.86).
Bullish long day (confirmed bullish harami). Tested and held SMA(233). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (32.24). No daily 3LB changes (reversal is 32.10).
Bullish long day (stepped on dragonfly doji). Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 50.0% minor retrace (50.01). No daily 3LB changes (reversal is 51.64).
Bullish long day. Tested and held SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (0.7536). New high on daily 3LB (reversal is 0.7532).
Bullish short day (morning star formed). Midpoint below EMA(10). Still failing all SMA's. Still failing its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.550).
Bearish short day (didn't confirm bullish harami). Still failing SMA(144). Midpoint below EMA(10). Still failing its 61.8% minor retrace (612.20). Tested and failed BB(2,200). No daily 3LB changes (reversal is 609.54).
Bullish long day (morning star formed). Midpoint below EMA(10). Tested and held SMA(233). Tested and held its 38.2% retrace (557.71). No daily 3LB changes (reversal is 565.17).
THREE LINE BREAK
Broke through the midpoint so now the 38.2% retrace comes into play.
IT HAS BEGUN. YOU HAVE BEEN WARNED.
8 comments:
Spain Industrial Output -7.0 consensus -3.6%
Germany Industrial Production M-o-M -1.8% consensus -0.5%
Y-o-Y -1.2%
Ring. Ring.
Hello? Hello? Who is this?
It's Fiscal Cliff. How are y..
Click.
Ring. Ring.
Hello?
Don't you hang up on me!
Click.
Ding dong.
(Looking out peephole) Holy crap! How did he know where we lived? Turn off the lights and hide!
SPX took out the post Sandy low. It's now free to launch an assault on 1400.
Amen: We are spending an extra trillion or more per year, and that is outpacing our GDP by a wide margin. Obama will have his hands full convincing people who are producers that this term will produce a solution. The French are already there...
BinT
It's bad out there. The government needs to cut spending. The first thing brought up is entitlements never the areas of those who pay to keep politicians in office.
I think this risk-off day is not at all about the election (24 hours earlier it wasn't an issue) rather I think it is about how the next four years will treat those who take risk, and of course that means business in general. The French socialist is having his hands full and our big government president will have the same problem. It is still a deleveraging world, no matter how much you try to shift it to the taxpayer. Good luck
not about the fiscal cliff, he meant to type...
BinT
It was the markets message to Congress. Fix the damn cliff issue!
New post up.
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