We watched, we dipped, and then we ripped. Disappointment at no new QE drove Silver down first, then Oil and then the rest of the risk basket tumbled notably. EURUSD dumped 60pips, ES dropped 7-8pts to Monday’s close, Treasury Yields dropped 6-7bps, Commodities (Gold, Silver, Oil, Copper) all fell 1-2% (with Silver worst). But then we ripped as Van Rompuy and Merkel started chatting about some progress in Europe. This pulled EURUSD up to unch, Gold and Silver retraced half of their spike down, stocks recovered all of their drop and reached up to VWAP (rather conveniently) where selling volume re-appeared. Notably, only Treasuries remained near their spike levels. As we post, the recovery spike back up in risk assets is now fading. Now get your popcorn ready for Bernanke’s presser. Finally, the issue with the European stick save, where Gollum mentioned Eurobond lite again, is that it is merely a regurgitation of news from Sunday, which Germany has already said Nein to: In The Case Of The World Vs Merkel, The Broke Prosecution Proposes Eurobonds Lite.
Too me this means very little rally left in the market. Remember that most FOMC days are bullish so don’t get caught up in these wild swings. Wait a day or so to see the real direction. If it closes down today then I would wait for a backtest tomorrow to short.
If it rallies then I’d say they will allow the technical analysis to work this time… which tells me the top is between 1370-1385 spx. Sitting on your hands right now and not taking a position is the wise thing to do as the direction is still undetermined. Give it a day or so to decide.
Rooney got a very easy goal. Almost as if it had been giftwrapped for him. A teammate put in a long strike that was deflected past the goalie and went right to Rooney who was waiting for it at the southern end of the goal. The goalie totally flubbed handling the ball which was tricky since it bounced right in front of him.
Rooney apparently had said at an earlier press conference that he hadn’t been playing well at the championship level tournaments since he hadn’t scored a goal in any of them since 2004 during the Euro cup.
After his goal, the announcers said it was his first goal since June 21, 2004 or 6-21-24….6-21===6-11?????/ or 6-2
The 4 letter announcer during the halftime show said Rooney scored during the 20th minute but it really was the 27th minute.
Later Rooney #10 was subbed for by #20 or 10-20 which happened to be the combo that he recorded his red card and suspension on 10-07-11.
6-20====FB??????
6-20 has a 9-11 hit to the great event double four years ago.
They’ve flashed a lot of 6-20s during the World Cup and it was very evident during the France-England match when #20 stood next to the French coach before entering the game for #6 ie 6-20.
We watched, we dipped, and then we ripped. Disappointment at no new QE drove Silver down first, then Oil and then the rest of the risk basket tumbled notably. EURUSD dumped 60pips, ES dropped 7-8pts to Monday’s close, Treasury Yields dropped 6-7bps, Commodities (Gold, Silver, Oil, Copper) all fell 1-2% (with Silver worst). But then we ripped as Van Rompuy and Merkel started chatting about some progress in Europe. This pulled EURUSD up to unch, Gold and Silver retraced half of their spike down, stocks recovered all of their drop and reached up to VWAP (rather conveniently) where selling volume re-appeared. Notably, only Treasuries remained near their spike levels. As we post, the recovery spike back up in risk assets is now fading. Now get your popcorn ready for Bernanke’s presser. Finally, the issue with the European stick save, where Gollum mentioned Eurobond lite again, is that it is merely a regurgitation of news from Sunday, which Germany has already said Nein to: In The Case Of The World Vs Merkel, The Broke Prosecution Proposes Eurobonds Lite.
Zerohedge
This market is so rigged..Down 95 now up 25
Too me this means very little rally left in the market. Remember that most FOMC days are bullish so don’t get caught up in these wild swings. Wait a day or so to see the real direction. If it closes down today then I would wait for a backtest tomorrow to short.
If it rallies then I’d say they will allow the technical analysis to work this time… which tells me the top is between 1370-1385 spx. Sitting on your hands right now and not taking a position is the wise thing to do as the direction is still undetermined. Give it a day or so to decide.
The news is out…
http://www.cnbc.com/id/47890974
Fed Extends ‘Operation Twist,’ Citing Concerns on
Economy
Gold chart analysis:
http://niftychartsandpatterns.blogspot.in/2012/06/gold-chart-analysis_20.html
Hard too say WB? I will say this… the VXX has been hanging out around 16.66 all day today and part of yesterday. It could be a sign?
SILVER Chart analysis:
http://niftychartsandpatterns.blogspot.in/2012/06/silver-support-and-resistance-lines.html
EURUSD Trend update:
http://niftychartsandpatterns.blogspot.in/2012/06/eurusd-trend-update_20.html
U know according to the FP, this should be it? But I am not going short.
Rooney got a very easy goal. Almost as if it had been giftwrapped for him. A teammate put in a long strike that was deflected past the goalie and went right to Rooney who was waiting for it at the southern end of the goal. The goalie totally flubbed handling the ball which was tricky since it bounced right in front of him.
Rooney apparently had said at an earlier press conference that he hadn’t been playing well at the championship level tournaments since he hadn’t scored a goal in any of them since 2004 during the Euro cup.
After his goal, the announcers said it was his first goal since June 21, 2004 or 6-21-24….6-21===6-11?????/ or 6-2
The 4 letter announcer during the halftime show said Rooney scored during the 20th minute but it really was the 27th minute.
Later Rooney #10 was subbed for by #20 or 10-20 which happened to be the combo that he recorded his red card and suspension on 10-07-11.
6-20====FB??????
6-20 has a 9-11 hit to the great event double four years ago.
They’ve flashed a lot of 6-20s during the World Cup and it was very evident during the France-England match when #20 stood next to the French coach before entering the game for #6 ie 6-20.
I’ve got to check my notes for other examples.