Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPXBullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed the 0.0% retrace (1522.29). New high on daily 3LB (reversal is 1517.93). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
DXYBullish long day. Midpoint above EMA(10). Holding above the 38.2% retrace (79.97). Tested and held SMA(144). No dally 3LB changes (reversal is 80.61).
VIXBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Holding above its 0.0% retrace (12.29). No daily 3LB changes (reversal is 12.46).
GOLDBearish short day. Midpoint below EMA(10). Still failing its 50.0% retrace (1672.20). Still failing all SMA's. New low on daily 3LB (reversal is 1669.60). Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 50.0% retrace (1.3436). New low on daily 3LB (reversal is 1.3578).
JNKBullish short day. Midpoint above EMA(10). Holding above SMA(89). Holding above its 38.2% minor retrace (40.58). No daily 3LB changes (reversal is 40.82).
10YR YIELDBearish long day. Still above all SMA's. Midpoint above EMA(10). Holding above its 61.8% minor retrace (19.37). No daily 3LB changes (reversal is 19.46).
WTISpinning top day. Still above all SMA's. Midpoint above EMA(10). Still failing its 38.2% retrace (98.18). No dally 3LB changes (reversal is 97.94).
SILVERBearish short day. Tested and failed SMA(233). Midpoint below EMA(10). Still failing its 50.0% minor retrace (31.30). No daily 3LB changes (reversal is 29.67).
BKXBullish short day. Midpoint above EMA(10). Still above all SMA's. Now failing its 0.0% retrace (55.79). No daily 3LB changes (reversal is 54.90).
HYG/LQDBearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Still failing its 38.2% retrace (0.7907). No daily 3LB changes (reversal is 0.7782).
COPPERSpinning top day. Midpoint above EMA(10). Holding above all SMA's. Holding above its 38.2% retrace (3.681). No daily 3LB changes (reversal is 3.605).
AAPLBullish short day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and held its 61.8% retrace (463.72). Still failing BB(2,200). No daily 3LB changes (reversal is 501.75).
CCIBearish long day. Midpoint below EMA(10). Tested and held SMA(233). Still failing its 61.8% minor retrace (570.80). New low on daily 3LB (reversal is 571.00).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
For goodness sake! Gold dropped >25 bucks!
...Perrrhaps central bankers will have their hands full...I think I will pay close attention.
BinT
Gold and silver were getting sold down hard everyday last week around 7am.
A court will decide who actually owns these particular fraud claims against Bank of America. But the issue of Bank of America’s responsibility for paying for the misdeeds of Countrywide during the financial crisis remains much at issue. The New York Fed is among a group of institutions that agreed in 2011 to settle with the bank for pennies on the dollar over mortgage securities its Countrywide unit misrepresented as high quality when they were sold.
That deal, for $8.5 billion, has not been approved by the court. Other mortgage securities investors have objected to it, calling the amount too small.
A New York Fed spokesman said it supported the settlement because it would generate significant value without potentially high litigation costs.
But Walker F. Todd, a former official at the Federal Reserve Bank of Cleveland, warned: “As a public entity, the Federal Reserve needs to take its custody of public funds seriously enough to ask for more than merely nominal compensation when it is giving up things of value to a bank holding company. If the central bank starts releasing binding legal claims for nominal compensation, it looks like just one more element of the secret or back-door bailout of the banking system.”
http://www.nytimes.com/2013/02/17/business/dont-blink-or-youll-miss-another-bank-bailout.html?pagewanted=1&_r=0&partner=rss&emc=rss
Weekly 3LB Update 2/15/13
New post up (finally).
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