Boiling point day tomorrow. Day 212 from April high. Of course,it could be better applied to May 6 when I think the markets will be truly embroiled in a fever pitch. 1 Pi from the big August 10 down day tomorrow and very interesting that today seems like the small red bar that preceded the big red bar at the August high. Really the market is waiting to crater once it drops below the 50day average. It did that on May 5. JNK had a big plunge today and made a new multi-week low dropping below its 50day average. The muni bond funds look like they put in doji or hanging man tops today and have corrected up to near their downsloping 20day averages. IIC, a California muni bond fund was down decently though. EEM,EWZ,FTSE were all down decently and making new lows for the move and dropping below their 50 day averages. These former leaders to the upside are now pointing at the near term direction for the markets. McClellan Oscillator is now reverseing back down of course and will exceed the -263 reading on this leg down in wave 3 big spike down. Currently at -150; can’t expect a panic today with $nymo only at -60. I want to say that markets could do another chop tomorrow ala May3 but that wouldn’t fit with $nymo action.
Watch the video replies too. They show how badly some people want to justify the Fed’s move. One of them even called currency a liability, which it’s not. Funny thing is, it just hit me that any debt that is denominated in any fiat currency is also not a liability because of the fact that its value can be altered, much like Madman Bernanke is doing now.
I guess people are going to start to change their thinking in the next several years, as this becomes more apparent.
By the way, according to ZH, the Fed is now the biggest holder of Treasuries on the world.
Do you happen to remember the last time that happened and what occurred afterward? That is very odd…
Also, EUR is all the way down to 1.3410USD now and if we’re going to have much more downward movement, it’s probably going to have to be between now and 1.30, which is 50% retracement. For a 2 penny move, this was a pathetic selloff, especially since this was the second in 2 weeks. Holiday this week throws a monkey wrench into everything.
I’m using Ameritrade and they are too high too. Think or Swim seems to be the cheapest, (according to Anna). She uses them and says it’s fairly cheap for a small amount of options.
ES Support and resistance levels
http://niftychartsandpatterns.blogspot.com/2010/11/s-500-chart-with-important-support.html
Boiling point day tomorrow. Day 212 from April high. Of course,it could be better applied to May 6 when I think the markets will be truly embroiled in a fever pitch. 1 Pi from the big August 10 down day tomorrow and very interesting that today seems like the small red bar that preceded the big red bar at the August high. Really the market is waiting to crater once it drops below the 50day average. It did that on May 5. JNK had a big plunge today and made a new multi-week low dropping below its 50day average. The muni bond funds look like they put in doji or hanging man tops today and have corrected up to near their downsloping 20day averages. IIC, a California muni bond fund was down decently though. EEM,EWZ,FTSE were all down decently and making new lows for the move and dropping below their 50 day averages. These former leaders to the upside are now pointing at the near term direction for the markets. McClellan Oscillator is now reverseing back down of course and will exceed the -263 reading on this leg down in wave 3 big spike down. Currently at -150; can’t expect a panic today with $nymo only at -60. I want to say that markets could do another chop tomorrow ala May3 but that wouldn’t fit with $nymo action.
New Post….
Watch the video replies too. They show how badly some people want to justify the Fed’s move. One of them even called currency a liability, which it’s not. Funny thing is, it just hit me that any debt that is denominated in any fiat currency is also not a liability because of the fact that its value can be altered, much like Madman Bernanke is doing now.
I guess people are going to start to change their thinking in the next several years, as this becomes more apparent.
By the way, according to ZH, the Fed is now the biggest holder of Treasuries on the world.
YEAH BABY! WE’RE NUMBER ONE!
Do you happen to remember the last time that happened and what occurred afterward? That is very odd…
Also, EUR is all the way down to 1.3410USD now and if we’re going to have much more downward movement, it’s probably going to have to be between now and 1.30, which is 50% retracement. For a 2 penny move, this was a pathetic selloff, especially since this was the second in 2 weeks. Holiday this week throws a monkey wrench into everything.
This is weirder than weird.
Don’t know? Awhile now… maybe a week or more?
Red,
When is the last time you saw a fake print?
and here is the Friday news on Israel planes hiting Gaza targets
http://www.reuters.com/article/idUSTRE6AI2E020101119?feedName=OutloudFeed&feedType=RSS&rpc=1120
what is up with North Korea? I mean I always knew some smoke will come from them… but it seems it may get serious.
this are the latest news:
http://www.nydailynews.com/news/world/2010/11/23/2010-11-23_s_korea_threatens_air_strikes_as_us_moves_to_prevent_escalation_of_violence_with.html
I’m using Ameritrade and they are too high too. Think or Swim seems to be the cheapest, (according to Anna). She uses them and says it’s fairly cheap for a small amount of options.