Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPXBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing the 0.0% retrace (1667.47). New low on daily 3LB (reversal is 1667.47). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
DXYBullish short day. Midpoint below EMA(10). Still failing the 0.0% retrace (84.00). Tested and failed SMA(21). No dally 3LB changes (reversal is 84.28).
VIXBullish long day. Midpoint above EMA(10). Tested and held SMA(144). Still failing its 61.8% minor retrace (16.45). New high on daily 3LB (reversal is 14.07).
GOLDBearish long day. Midpoint above EMA(10). Holding above its 0.0% retrace (1335.60). Tested and failed SMA(21). No daily 3LB changes (reversal is 1587.20). Must have the precious.
EURUSDBearish short day. Midpoint above EMA(10). Tested and failed SMA(21,55). Still failing its 38.2% retrace (1.3145). No daily 3LB changes (reversal is 1.2831).
JNKBearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Tested and failed its 50.0% minor retrace (40.70). New low on daily 3LB (reversal is 41.25).
10YR YIELDBullish long day. Still above all SMA's. Midpoint above EMA(10). Holding above its 61.8% minor retrace (19.37). New high on daily 3LB (reversal is 19.64).
WTIBearish long day. Tested and failed SMA(144). Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (92.62). New low on dally 3LB (reversal is 94.25).
SILVERBearish long 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 22.66).
BKXBearish long day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 0.0% retrace (62.49). No daily 3LB changes (reversal is 61.53).
HYG/LQDDoji day. Tested and held SMA(21). Midpoint below EMA(10). Holding above its 38.2% retrace (0.7907). No daily 3LB changes (reversal is 0.7977).
COPPERBearish long day. Midpoint below EMA(10). Tested and failed SMA(21,55). Tested and failed its 38.2% minor retrace (3.332). No daily 3LB changes (reversal is 3.132).
AAPLBearish short day. Holding above SMA(21). Midpoint above EMA(10). Still failing its 61.8% retrace (463.72). Still failing BB(2,200). No daily 3LB changes (reversal is 463.84).
GSCIBearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 50.0% minor retrace (30.83). No daily 3LB changes (reversal is 30.05).
IWMBearish short day. Midpoint below EMA(10). Tested and failed SMA(144). Tested and failed its 0.0% retrace (99.07). No daily 3LB changes (reversal is 99.23).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
3 comments:
Weekly 3LB Update 5/31/13
QE on or QE off?
(Tempe, Arizona) — Economic activity in the manufacturing sector contracted in May for the first time since November 2012, and the overall economy grew for the 48th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The PMI™ registered 49 percent, a decrease of 1.7 percentage points from April's reading of 50.7 percent, indicating contraction in manufacturing for the first time since November 2012 and only the second time since July 2009. This month's PMI™ reading is at its lowest level since June 2009, when it registered 45.8 percent. The New Orders Index decreased in May by 3.5 percentage points to 48.8 percent, and the Production Index decreased by 4.9 percentage points to 48.6 percent. The Employment Index registered 50.1 percent, a slight decrease of 0.1 percentage point compared to April's reading of 50.2 percent. The Prices Index registered 49.5 percent, decreasing 0.5 percentage point from April, indicating that overall raw materials prices decreased from last month. Several comments from the panel indicate a flattening or softening in demand due to a sluggish economy, both domestically and globally."
New.
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