Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Hanging man day. Midpoint above EMA(10). Still above all SMA's. Tested and failed the 0.0% retrace (1514.41). No daily 3LB changes (reversal is 1494.82). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
Bullish long day. Midpoint above EMA(10). Tested and held the 38.2% retrace (79.97). Tested and held SMA(21,55). No dally 3LB changes (reversal is 80.61).
Doji day. Midpoint below EMA(10). Tested and held SMA(21). Holding above its 0.0% retrace (12.29). No daily 3LB changes (reversal is 12.46).
Bearish short day. Midpoint above EMA(10). Tested and failed its 50.0% retrace (1672.20). Tested and failed SMA233). No daily 3LB changes (reversal is 1695.70). Must have the precious.
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 50.0% retrace (1.3436). Daily 3LB reversal down (reversal is 1.3665).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(89). Tested and failed its 38.2% minor retrace (40.58). New low on daily 3LB (reversal is 40.82).
Bearish short day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% minor retrace (19.37). New low on daily 3LB (reversal is 20.16).
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Still failing its 38.2% retrace (98.18). Dally 3LB reversal down (reversal is 97.94).
Bearish long day. Tested and failed SMA(21,144). Midpoint below EMA(10). Holding above its 50.0% minor retrace (31.30). No daily 3LB changes (reversal is 29.67).
Bearish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 0.0% retrace (55.05). No daily 3LB changes (reversal is 54.12).
Bearish long day. Still failing SMA(21). Midpoint below EMA(10). Still failing its 38.2% retrace (0.7907). New low on daily 3LB (reversal is 0.7899).
Bearish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% retrace (3.681). No daily 3LB changes (reversal is 3.605).
Bullish short day. Still failing all SMA's. Midpoint above EMA(10). Tested and held its 61.8% retrace (463.72). Still failing BB(2,200). No daily 3LB changes (reversal is 501.75).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21,89,144). Still failing its 61.8% minor retrace (570.80). No daily 3LB changes (reversal is 561.75).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
3 comments:
Oddly enough I keep looking at news feeds and don't see much of interest. Just that the market is struggling to hold current levels.
The $14.6 billion gain followed a revised $15.9 billion advance in November, the Federal Reserve said today in Washington. The median forecast of 30 economists surveyed by Bloomberg called for a $14 billion increase in December. Non- revolving debt, such as financing for college tuition and auto purchases, jumped $18.2 billion in December, while credit-card borrowing fell.
Rising home values and job creation are boosting the ability and willingness of households to borrow, laying the foundation for an acceleration in the consumer spending that makes up 70 percent of the U.S. economy. Cheaper financing is supporting purchases of big-ticket items such as new cars.
“As consumers are willing to take on additional debt, that’s a good sign that economic growth is beginning to turn around,” said Andrew Brodsky, an economist at Stone & McCarthy Research Associates in Princeton, New Jersey, the second-most accurate consumer credit forecaster over the past two years. “The gains are definitely encouraging.”
http://www.bloomberg.com/news/2013-02-07/consumer-credit-in-u-s-rises-on-surge-in-non-revolving-debt.html
..Perhaps this is a good sign. But increasing student loan debt, when people are not paying back current loans is troubling. I am of the opinion that this government sponsored debt and spending spree is in some ways like the early days of the tech bubble, just different elements.
..Stay alert.
BinT
Colleges are suing the students who default on their student loans because the money used to repay is also used to fund additional loans.
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