Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPXBullish short day. Midpoint below EMA(10). Tested and held SMA(21). Still failing the 0.0% retrace (1570.28). No daily 3LB changes (reversal is 1570.25). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
DXYDoji day. Midpoint below EMA(10). Holding above the 38.2% minor retrace (82.46). Tested and failed SMA(21). No dally 3LB changes (reversal is 82.13).
VIXBearish short day. Midpoint above EMA(10). Tested and failed SMA(89). Holding above its 0.0% retrace (11.50). No daily 3LB changes (reversal is 11.30).
GOLDBearish short day. Midpoint below EMA(10). Still failing its 61.8% retrace (1610.90). Still failing all SMA's. New low on daily 3LB (reversal is 1579.60). Must have the precious.
EURUSDBullish short day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (1.2770). Daily 3LB reversal up (reversal is 1.2782).
JNKBearish long day. Midpoint below EMA(10). Tested and failed SMA(89). Holding above its 38.2% minor retrace (40.58). New low on daily 3LB (reversal is 41.01).
10YR YIELDBearish long day. Tested and failed SMA(144). Midpoint below EMA(10). Still failing its 50.0% minor retrace (18.42). New low on daily 3LB (reversal is 18.51).
WTIBearish short day. Tested and failed SMA(21,89,144,233). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (93.72). New low on dally 3LB (reversal is 97.23).
SILVERBearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 100.0% retrace (26.91). New low on daily 3LB (reversal is 27.95).
BKXBullish short day. Midpoint below EMA(10). Tested and held SMA(55). Still failing its 0.0% retrace (57.33). No daily 3LB changes (reversal is 56.28).
HYG/LQDBearish long day. Tested and failed SMA(89). Midpoint below EMA(10). Still failing its 38.2% retrace (0.7907). New low on daily 3LB (reversal is 0.7923).
COPPERBullish piercing day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 38.2% minor retrace (3.308). No daily 3LB changes (reversal is 3.405).
AAPLBearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 61.8% retrace (463.72). Still failing BB(2,200). New low on daily 3LB (reversal is 463.58).
CCIBearish short day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 50.0% retrace (547.13). New low on daily 3LB (reversal is 548.32).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
9 comments:
http://www.financialsense.com/contributors/john-butler/someone-has-got-to-pay-will-it-be-you
Someone Has to Pay - Will it Be You?
You don’t need to live in Cyprus to be aware that banks in numerous countries are woefully undercapitalised, in some cases to the point of insolvency. Sure, regulatory financial accounting conventions allow for a huge amount of smoke-and-mirrors obfuscation, delaying the day of reckoning, but an insolvent bank is insolvent regardless of the regulators’ choices of accounting conventions to apply from one day to the next.
Although the specific distinctions vary from country to country, large banks have multiple sources of capital in their liability structure with varying degrees of seniority. As losses are incurred they are absorbed by this structure, tranche by tranche. First goes the shareholder equity, then the subordinated debt (which includes a great number of interbank derivative positions, about which more later), then the senior debt, then uninsured deposits.
Back in 2008, however, government and central bank officials chose not to follow existing law and apportion losses to banks’ liability structures through appropriate insolvency proceedings. Rather, they chose to go straight to the taxpayers to bail out their respective financial systems, in some cases by outright nationalising institutions. This was done because the institutions in question were deemed ‘too big to fail’ (TBTF) and their insolvency would have threatened to derail the entire financial system.
Read more...
Yen futures are forming a falling three method pattern on the weekly chart. This is a continuation pattern.
http://www.bloomberg.com/news/2013-04-04/ubs-s-ersoff-herman-said-to-leave-cmbs-co-head-roles-after-week.html
UBS’s Ersoff, Herman Said to Leave CMBS Co-Head Roles After Week
Brett Ersoff and John Herman, who took over the commercial-mortgage bond group at UBS AG (UBSN) last week after the group’s head departed for Bank of America Corp., have left the bank, said two people familiar with the moves who asked not to be identified because they haven’t been announced.
Ersoff and Herman were named co-heads of real-estate finance and mortgage-backed securities after Kenneth Cohen exited to become the global head of commercial real estate at Bank of America in New York, UBS confirmed on March 28.
Megan Stinson, a spokeswoman for Switzerland’s largest lender, said she couldn’t comment on the latest departures, reported earlier today by Debtwire. Ersoff and Herman couldn’t immediately be reached for comment.
Anyone get the feeling that after seeing the books they fled so that they wouldn't become patsies? Keep an eye on UBS.
HBOS: former bosses should be banned from financial sector, says commission
In a damning report into the downfall of HBOS, the Parliamentary Commission on Banking Standards lays the blame squarely at the door of the trio that led the bank from its creation in 2001, via the merger of Halifax and Bank of Scotland, until its collapse in 2008.
“The HBOS story is one of catastrophic failures of management, governance and regulatory oversight,” says commission chairman Andrew Tyrie. “The commission concluded that primary responsibility for these failures should lie with the former chairman of HBOS, Lord Stevenson, and its former chief executives, Sir James Crosby and Andy Hornby.”
Mr Tyrie notes that so far only Peter Cummings, who headed HBOS’s corporate division between 2005 and 2008, “has faced regulatory sanction for HBOS’s failures”, having been fined £500,000 last September by the Financial Services Authority (FSA) and banned from working in the banking industry.
NFP 88k
Private 95k
B/D 92k
LFPR 63.3 (-0.2)
Not in LF 663k
Civilian LF -496k
U3 7.6% (-0.1)
U6 13.8% (-0.5) SA, 13.9% (-1.0) NSA
27 wks 4611k (-186k)
Part time 7638 (-350k)
Temp 20.3k (-3.1k)
Wkly hrs 36.6 (+0.1)
Govt -7k from 14k
Retail -24.1k from 14.6k
Construction 18k from 49k
NFP & Private were WAY below the lowest estimates. Rumor now is that LFPR may have to get massaged in the future (figures)
Anyone find it ironic that EBT cards are one letter short of being DEBT?
Save the EU close currently in progress...
Funny how the ES moves higher on lower volume.
WTH the Dow was down 160 and now it's down 35. If you want to see a manipulated market...here it is.
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