Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPX
Spinning top day. Midpoint below EMA(10). Still above all SMA's. Still failing the 0.0% retrace (1667.47). Daily 3LB reversal down (reversal is 1669.16). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
DXY
Spinning top day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (84.00). Still above all SMA's. No dally 3LB changes (reversal is 83.61).
VIX
Bearish long day. Midpoint above EMA(10). Tested and failed SMA(144). Still failing its 61.8% minor retrace (16.45). No daily 3LB changes (reversal is 12.59).
GOLD
Bearish short day. Midpoint below EMA(10). Holding above its 0.0% retrace (1335.10). Still below all SMA's. No daily 3LB changes (reversal is 1586.70). Must have the precious.
EURUSD
Spinning top day. Midpoint above EMA(10). Tested and failed SMA(55). Still failing its 38.2% retrace (1.3145). No daily 3LB changes (reversal is 1.2973).
JNK
Bullish short day (morning star imploded). Midpoint below EMA(10). Tested and failed SMA(55). Still failing its 0.0% retrace (41.86). New low on daily 3LB (reversal is 41.80).
10YR YIELD
Doji 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 19.23).
WTI
Bearish short day. Tested and held SMA(55,144,233). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (94.30). New low on dally 3LB (reversal is 96.45).
SILVER
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (22.60). New low on daily 3LB (reversal is 23.01).
BKX
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Still failing its 0.0% retrace (61.70). No daily 3LB changes (reversal is 60.51).
HYG/LQD
Bullish short day. Holding above SMA(21). Midpoint below EMA(10). Holding above its 38.2% retrace (0.7907). No daily 3LB changes (reversal is 0.7977).
COPPER
Bearish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and failed its 38.2% minor retrace (3.332). No daily 3LB changes (reversal is 3.132).
AAPL
Bullish short day. Tested and held SMA(21,89). Midpoint below EMA(10). Still failing its 61.8% retrace (463.72). Still failing BB(2,200). No daily 3LB changes (reversal is 463.84).
GSCI
Bearish short day. Midpoint below EMA(10). Now failing all SMA's. Holding above its 61.8% minor retrace (31.04). No daily 3LB changes (reversal is 30.05).
IWM
Bullish short day. Midpoint below EMA(10). Tested and held SMA(144). Still failing its 0.0% retrace (99.07). No daily 3LB changes (reversal is 99.23).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
Why is it that as soon as bond yields start to rise talking heads start saying it's because the economy is getting better. But the banks are still insolvent. An occasional tick higher in economic releases does not mean the economy is getting better. How come it can't be bond buyers wanting higher yield because the deficit is too high? JTOL.
http://www.zerohedge.com/contributed/2013-05-25/bond-vortex-works
Bond Vortex In The Works?
The Fed and BoJ on the defensive? This could get interesting.
Weekly 3LB Update 5/24/13
Getting a little close to 2.2% on the 10yr. That is supposed to be the level where the bond market hiccups.
New.
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