• Gold Money
    05/26/2016 - 14:27
    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Charting Key Breakdown Levels In The EURUSD, The S&P, The VIX And The Spanish 10 Year

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/15/2011 - 14:32 | 1372017 Highrev
Highrev's picture

Let'em rip.

Wed, 06/15/2011 - 14:41 | 1372057 Clueless Economist
Clueless Economist's picture

When will they listen to John Maynard and I????

We need stimulus.  We need to print more money so we can fund all of those shovel ready jobs that need to be filled.  This will save or create many millions of jobs by my caculations.  Never underestimate the Keynes multipler...the mor $ printed the better things will be. 

Wed, 06/15/2011 - 14:39 | 1372062 redpill
redpill's picture

OT: Not to be forgotten, everyone's favorite black swan...

Flashes of Cherenkov radiation and recriticality at Fukushima going entirely unreported

http://hawaiinewsdaily.com/2011/06/apparent-explosion-and-fire-at-fukushima-4/

Wed, 06/15/2011 - 14:48 | 1372089 Franken_Stein
Franken_Stein's picture

 

Probably transitory.

In any case: bullish !

 

Wed, 06/15/2011 - 15:09 | 1372176 dwdollar
dwdollar's picture

Magical levitation all afternoon as the DOW reaches -200.

Wed, 06/15/2011 - 14:28 | 1372018 Franken_Stein
Franken_Stein's picture

 

I have a serious question:

 

Can the movement in the EUR/CHF and USD/CHF FX pair be regarded as the inverse of what the movement of the gold price in € or $ would be, if it was only driven by supply and demand and not distorted by COMEX short positions ?

 

Both qualitatively and quantitatively ?

 

I mean gold is a scarce resource and the Swiss Franc is too.

 

The SNB, after unsuccessfully trying to print like crazy and buying Euros by the boatload which now rot on their balance sheet, has now given up on that and can only watch the Franc rise with despair as their Euros become ever more worthless.

 

Or is this comparison too far fetched ?

 

Wed, 06/15/2011 - 14:51 | 1372085 Ghordius
Ghordius's picture

I have the same impression
Add oil to the picture, and the three seem to dance a tango...

Wed, 06/15/2011 - 15:21 | 1372235 francis_sawyer
francis_sawyer's picture

If you have to ask, you can't afford it...

Wed, 06/15/2011 - 20:49 | 1373173 Orly
Orly's picture

Sure it can and it has acted the way you describe.  The reason has to do with "risk-on" vs. "risk-off."

The Swiss franc is now considered the world's most reliable currency and the action it is taking reflect an inverse correlation between risk and less-risk.  It used to be the job of the US Dollar to be the safe-haven currency but that is no longer the case.

As the global perception of the US as "saviour to all economies" plants its feet firmer in cement, as illustrated by the pieces Tyler had at the week-end indicating that the US taxpayer has surreptitiously supported European banks to the tune of some $600 billion, the further the US dollar will decline.  It has lost its safe-haven status because no one is sure what the Fed will do to shore up Greece, Portugal, Spain...you get the picture.

No one will be willing to give credence to a currency that is just giving it away.  In the meantime, the Swiss franc fills the role of risk-off currency of choice, while gold fills the role of risk-on (speculation...) trades.  What happens to the USD from here is anyone's guess.

:D

Wed, 06/15/2011 - 14:30 | 1372026 Village Smithy
Village Smithy's picture

As for today,I believe the magical ES levitation is just about to start.

Wed, 06/15/2011 - 14:48 | 1372090 EscapeKey
EscapeKey's picture

The DJIA bounces as if by magic every time it nears the -200 mark.

Wed, 06/15/2011 - 15:00 | 1372152 hedgeless_horseman
hedgeless_horseman's picture

Gentlemen, the hard deck on today's mission is 1263.

Wed, 06/15/2011 - 15:16 | 1372211 Greeny
Greeny's picture

Yeah, cause I bought few stocks there :))

Keep selling.

Wed, 06/15/2011 - 14:33 | 1372033 Franken_Stein
Franken_Stein's picture

 

Regarding the Spanish 10 year, this is not a triangle, this is going to be just an island gap  that is going to be closed downwards pretty soon.

You know, transitory.

 

Wed, 06/15/2011 - 14:41 | 1372056 Dick Darlington
Dick Darlington's picture

Todays closing on spanish 10 yr was 5,548%

http://www.bloomberg.com/apps/quote?ticker=GSPG10YR:IND

Wed, 06/15/2011 - 14:43 | 1372065 rubearish10
rubearish10's picture

Don't you just get the feeling "someone" is going make a Canuck like "stick save" between now and the close and if not, most certainly before tomorrow's US open after some kinda roiling this evening. Come on now,,,,,,,we've been here before. On with the Greek party, geeze!

Wed, 06/15/2011 - 14:41 | 1372067 Eddyspain
Eddyspain's picture

Well, spanish 10 year bond now at 5.548% now...plus serious rioting in Barcelona (regional parlament besieged by protesters, mps have to go in and out by helicopter or poclice vans) plus rumous of an general election in the fall etc etc

Wed, 06/15/2011 - 14:49 | 1372082 MrPoopypants
MrPoopypants's picture

More on VIX here, from a long term perspective:

http://karrpool.blogspot.com/2011/05/diary-entry-2-no-brainer-trade-of-2...

Wed, 06/15/2011 - 14:52 | 1372091 Greeny
Greeny's picture

"S&P – First good support below here 1,257-1,241."

Draw trend line from April 2010 to April 2011

And lower trend line (parallel) from JUL 2010 to

2011 and that my lower target for S$P 1170 and Not

freaking 1000, Where is the Silver Chart?

Cause it can drop to about 23/oz by your charting

theory as well.. Be fair.. You don't have to promote

collapse and create panic. We have enough of it in reality

already.

Wed, 06/15/2011 - 15:43 | 1372322 Arius
Arius's picture

right on...shoot the messenger...

Wed, 06/15/2011 - 14:52 | 1372092 sasebo
sasebo's picture

I've got a question.

WHAT THE HELL WOULD WE BE DOING IF TD & ZH WEREN"T STAYING ON TOP OF ALL OF THIS?

 

Wed, 06/15/2011 - 14:53 | 1372111 Greeny
Greeny's picture

on top of what, dude? Yes, Market is down today

and you are happy, check back 2010 summer..

plenty room to move down.. Today your conspiracy

theory works, let's check back tomorrow.

Enjoy bearning Americans 401k's..

Wed, 06/15/2011 - 15:23 | 1372270 sasebo
sasebo's picture

The world is full of stupid assholes. What else is new?

Wed, 06/15/2011 - 15:46 | 1372341 Greeny
Greeny's picture

that's exactly my point.

Wed, 06/15/2011 - 15:27 | 1372288 luster
luster's picture

bearning?

Wed, 06/15/2011 - 21:04 | 1373201 knowless
knowless's picture

maybe a combination of bear and burning?

Wed, 06/15/2011 - 20:37 | 1373159 Chump
Chump's picture

I get no pleasure from the pain of others, but we are so unbelievably fucked that a 401K account is inconsequential compared to the doom about to be visited upon us.

But maybe you're right.  Maybe all that matters is whether or not we're green tomorrow.

Wed, 06/15/2011 - 15:03 | 1372144 monopoly
monopoly's picture

That is something I do not want to even think about. Been here almost 2 years and this site sure helps me sleep well at night.

And, we got Robot as a bonus. :)

Wed, 06/15/2011 - 14:53 | 1372093 richard in norway
richard in norway's picture

could someone please explain the vix for me

 

what is it and how is it measured

Wed, 06/15/2011 - 15:00 | 1372132 Greeny
Greeny's picture

Basically Volatility rising as Markets go down..

Check VIX there is options you can play on it..

But the problem is: with rising VIX option premiums

goes up accordingly so when Market rebound you can

lose that premium.. No free lunch here. I was trying to

protect some investments today via options and it's simply

impossible, prices for the options too high..

Wed, 06/15/2011 - 15:42 | 1372331 Arius
Arius's picture

you can simply sell...

Wed, 06/15/2011 - 15:04 | 1372146 Dick Darlington
Wed, 06/15/2011 - 15:10 | 1372172 Instant Wealth
Instant Wealth's picture

.

Wed, 06/15/2011 - 15:14 | 1372202 DB Cooper
DB Cooper's picture

Not sure what you're asking - but if it is about VXX don't play with it or any levered ETF.  They are mathematical scams built by the big investment firms to steal investors money.  They are built to approach 0 and pretty fast too.  VXX has gone from a split adjusted 480 to 24 in a little over 2 years.  It is a one day trade only.

Wed, 06/15/2011 - 15:37 | 1372307 SilverIsKing
SilverIsKing's picture

Short those ETFs.

Wed, 06/15/2011 - 15:53 | 1372379 richard in norway
richard in norway's picture

thanks guys for the info

Wed, 06/15/2011 - 14:55 | 1372103 Caviar Emptor
Caviar Emptor's picture

It's time for the CNBS anchorettes to ask every day : "But is this the bottom?" 

Of course the more appropriate question would be "Is this a great bottom or what?" 

Wed, 06/15/2011 - 14:56 | 1372107 Tracerfan
Tracerfan's picture

Sorry, but this is all news-driven price movements, not chart-driven.

 

 

Wed, 06/15/2011 - 14:53 | 1372115 Caviar Emptor
Caviar Emptor's picture

Once again financials and materials leading the way down...the Pandora selloff is getting serious

Wed, 06/15/2011 - 15:07 | 1372150 Greeny
Greeny's picture

--deleted reason: duplicate---

Wed, 06/15/2011 - 14:56 | 1372122 sasebo
sasebo's picture

May I add -

TD & ZH are working their asses off for us.

Wed, 06/15/2011 - 15:01 | 1372133 slewie the pi-rat
slewie the pi-rat's picture

i'll take Charts for $400, please, alex.

and the answer is:  Bearish.  slewie?

uhhnhh...is it bullish or bearish if the S&P 500 chart reminds you of the Mountain Climber Game on The Price Is Right?

Wed, 06/15/2011 - 14:58 | 1372136 alien-IQ
alien-IQ's picture

it's 3PM. Critical levels everywhere. Smoke em if you got em kids...this could get weird:-)

Wed, 06/15/2011 - 14:59 | 1372141 hungarianboy
hungarianboy's picture

Look at that huuuge tick volume in EUR/USD 15 minute. Might bounce very soon.

Wed, 06/15/2011 - 15:01 | 1372157 monopoly
monopoly's picture

Not once have the idiots on the idiot channel mentioned that gold is "green".

Wed, 06/15/2011 - 15:09 | 1372191 alien-IQ
alien-IQ's picture

they were not just frivolously granted the moniker of "the idiot channel"...they earned it.

Wed, 06/15/2011 - 15:06 | 1372183 Laudrup
Laudrup's picture

Bet the Bernank is staring at these charts all day, sweating his ass off

Wed, 06/15/2011 - 15:14 | 1372196 chancee
chancee's picture

Such total bullshit price action on SPY... being completely propped up every time it tries to break through support.  The lie of SPY.

Wed, 06/15/2011 - 15:21 | 1372237 Greeny
Greeny's picture

What is your problem? Are you short?

Wait for QE3 then, Ben will take care of you :)))

Wed, 06/15/2011 - 21:57 | 1373295 Chump
Chump's picture

Stay long.  QE3 is coming, I promise.

Do NOT follow this link or you will be banned from the site!