Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPX
Bearish harami day. Midpoint above EMA(10). Still above all SMA's. Holding above the 38.2% minor retrace (1416.67). No daily 3LB changes (reversal is 1413.58). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
DXY
Takuri day. Midpoint below EMA(10). Still failing the 38.2% retrace (79.97). Still failing all SMA's. No dally 3LB changes (reversal is 80.41).
VIX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(144). Still failing its 61.8% minor retrace (18.81). New high on daily 3LB (reversal is 15.08).
GOLD
Spinning top day. Midpoint below EMA(10). Tested and failed its 50.0% retrace (1670.30). Tested and failed SMA(144,233). New low on daily 3LB (reversal is 1695.80). Must have the precious.
EURUSD
Shooting star day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% retrace (1.3138). New high on daily 3LB (reversal is 1.3171).
JNK
Bearish engulfing day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 100.0% retrace (40.86). No daily 3LB changes (reversal is 40.68).
10YR YIELD
Bearish harami day. Still above all SMA's. Midpoint above EMA(10). Now failing its 50.0% minor retrace (18.42). No daily 3LB changes (reversal is 16.97).
WTI
Bullish long day. Tested and held SMA(55). Midpoint above EMA(10). Tested and failed its 50.0% minor retrace (90.12). New high on dally 3LB (reversal is 85.39).
SILVER
Bearish long day. Tested and failed SMA(233). Midpoint below EMA(10). Still failing its 38.2% minor retrace (32.24). New low on daily 3LB (reversal is 32.30).
BKX
Bearish thrusting day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% minor retrace (50.92). No daily 3LB changes (reversal is 49.51).
HYG/LQD
Bearish engulfing day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (0.7765). No daily 3LB changes (reversal is 0.7729).
COPPER
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21,55,89,233). Still failing its 38.2% retrace (3.681). New low on daily 3LB (reversal is 3.716).
AAPL
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 50.0% retrace (509.60). Still failing BB(2,200). No daily 3LB changes (reversal is 509.79).
CCI
Bearish long day. Midpoint below EMA(10). Still failing SMA(21,55,89). Still failing its 61.8% minor retrace (570.80). No daily 3LB changes (reversal is 575.22).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
4 comments:
Gold is still getting beatdown.
The trend line (lows from 5/16/12-6/28/12) in gold should be support. That's around 1630. Gold broke below the monthly 3LB mid (1656.15) today. The other support is 1607.40 (the 61.8% retrace) if the trend line doesn't hold.
WTH was that in the final five minutes? I suppose they figure "Plan B" will pass the Senate.
.weN
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