"Good evening Bulls. We've been looking for you."
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
SPXBearish long day. Midpoint below EMA(10). Still failing SMA(21). Tested and failed the 50.0% minor retrace (1613.34). New low on daily 3LB (reversal is 1649.60). QE2infinity. Tested and failed lower trend line and RSI(14) back below 50.
DXYBearish short day. Midpoint below EMA(10). Tested and held the 38.2% minor retrace (82.46). Tested and failed SMA(55). New low on dally 3LB (reversal is 84.21).
VIXBullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 61.8% minor retrace (16.45). New high on daily 3LB (reversal is 14.48).
GOLDDoji day. Midpoint below 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.
EURUSDSpinning top day. Midpoint above EMA(10). Tested and failed SMA(89,144). Still failing its 38.2% retrace (1.3145). New high on daily 3LB (reversal is 1.3046).
JNKBearish long day. Midpoint below EMA(10). Now failing all SMA's. Still failing its 61.8% minor retrace (40.43). New low on daily 3LB (reversal is 40.58).
10YR YIELDSpinning top 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 19.64).
WTISpinning top day. Tested and failed SMA(55,233). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (94.30). No dally 3LB changes (reversal is 94.25).
SILVERDoji day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (22.60). No daily 3LB changes (reversal is 23.01).
BKXBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing its 0.0% retrace (62.49). New low on daily 3LB (reversal is 62.64).
HYG/LQDBullish short day. Tested and held SMA(55,89). Midpoint below EMA(10). Tested and held its 38.2% retrace (0.7907). No daily 3LB changes (reversal is 0.7963).
COPPERSpinning top day. Midpoint above EMA(10). Holding above SMA(21,55). Holding above its 38.2% minor retrace (3.332). No daily 3LB changes (reversal is 3.132).
AAPLSpinning top day. Tested and failed SMA(21). 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).
GSCIBearish short day. Midpoint above EMA(10). Tested and failed SMA(21). Holding above its 61.8% minor retrace (31.04). No daily 3LB changes (reversal is 30.05).
IWMBearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing its 0.0% retrace (99.07). New low on daily 3LB (reversal is 99.21).
5 comments:
http://www.financialsense.com/contributors/christopher-drose/why-inflation-never-came
Why Inflation Never Came
quote:
"If people would stop equating money supply with monetary base and really understood how the Fed implemented monetary policy then they would have a much easier time investing, especially in regards to precious metals, which have historically been an excellent inflation hedge."
Another quote from the article:
"The Fed doesn't actually control the money supply, it only controls the monetary base. If the Fed could control the money supply, the size of QE3 would have been causing some inflation. This is the Personal Consumption Index, which is what the Fed uses to measure where it is in relation to its inflation targets. They don't look at CPI, like it is commonly thought. The difference between the CPI and PCE is that the PCE measures total expenses, which weights healthcare more heavily. For example if you go to the doctor for a yearly physical and your co-pay is $100 and the insurance pays for $100 then the total cost is $200. CPI would only count the $100 co-pay, while the PCE would account for the total $200."
http://www.reuters.com/article/2013/06/05/us-sec-moneyfunds-idUSBRE9540UN20130605?feedType=RSS&feedName=businessNews
SEC moves to tighten regulations on money market funds
(Reuters) - A portion of the $2.6 trillion money market fund industry would be required to fundamentally change how it prices its shares under proposals issued by U.S. regulators on Wednesday to reduce the risk of abrupt withdrawals.
But the Securities and Exchange Commission plan was not as strict as some market players feared and included an industry-favored provision for funds to charge withdrawal fees and delay return of funds to customers during times of financial distress.
For more than a year the SEC has been debating whether changes made in 2010 were enough to avoid a repeat of a run on money market funds seen at the height of the financial crisis.
The additional reforms proposed on Wednesday did not go as far as a draft proposal floated last year by then-SEC Chair Mary Schapiro, who left in December.
The fund industry had warned that further major reforms could kill investor interest in money market funds.
In a compromise move, the SEC's new plan mostly focuses on prime funds for institutional investors, which are seen as more prone to runs because those investors are more sophisticated and more likely to pull large blocks of money first in a panic.
The SEC estimated that institutional funds represent 37 percent of the market with $1 trillion in assets.
The SEC's plan calls for two alternative proposals that it said could be adopted alone or in combination.
Can't let that idle $2.7T sit there out of reach of the government. Banks need to be recapitalized. There's a need for more buyers of USTs when the Fed tapers.
Does this move lower in the market have anything to do with 10yr yields getting above 2.2%?
New.
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