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Critical 55-DMA Support About To Be Taken Out
Keep a very close eye out on the 55 DMA. As John Noyce pointed out over the weekend, this is the most important support level for the S&P, which has been above the 55 DMA for about 132 consecutive days. Should this be taken out, and we are about 1 point away from it, the freefall below it (at least for those who believe technical analysis) will make a few heads spin. Next support: 1,174.
As a reminder, here is why the 55 DMA is so critical: something lik 132 consecutive days above it.
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I have three consoles running here. WTF is going on at the markets right now. Is it halted? Numbers from all three subscription feeds are fucked up.
Anyone else noticing that the baords are all screwed up right now?
yes.
I think they just halted the markets. Can't pull any quotes now.
I think it was just a data feed error/obfuscation.
it's always a good idea to have data feeds from at least 3 different providers, ideally each located on a different continent; i did notice a 5 seconds glitch on my US feed but my european and asian ones were completely unaffected
My orders won't fill. Totally fucking liquid.
Same here. TD, Think or Swim and eTrade are locked.
My order went thru ok on a small account in Fidelity.
Is it snowing in your office ? Is today a school holiday ?
Everything's crazy right now. Are nukes flying?
Something is going on. Can't find anything though. network problems again between point A and B maybe
TNA would have been a good play today with the big drop on open though. Oh well.
Great day for TZA, though: Pushing +8% right now. Strange, with oil falling on a stronger $; it doesn't appear that the correlations are holding.
Agreed, considering what TZA represents, the market is hardly a bastion of sanity anymore.
my charts seemed to pause a bit...thought it was my connection
Weird, even Forex isn't updating. Usually the morning open and the USD/CDN is jumping around like a six year old after drinking a redbull.
It's like everything is out of sync...if that makes sense.
I was able to close out my GM short.
You guys must be trying to sell.
They will accept buy orders, just not sells....
The Fed will just double down on the POMO over the next few weeks. Remember that we're expecting the new schedule later today. Let's see if it's front loaded.
Exactly. Technical, schmecnical. Benny gots this. We all need to go buy some C, BAC, AMP, AMZN, and AAPL. This is a great Fucking Dip to Buy.
No, they're going to "exit" soon, remember? Can't you get your story straight?
Fed Gives Markets Clues on Exit From Unprecedented Easinghttp://www.bloomberg.com/news/2011-03-10/fed-giving-credit-markets-clues...
Remember, we have a strong dollar policy. We give it lip service everytime we need to or think we can get away with it.
Maybe I should just close my eyes and randomly hit stock symbols and the "buy" and "sell" buttons. Or get the monkey suited up to play "Stock market shoots and ladders" like back in the 90's.
That is a very astute observation and right off the 55.
Looks like there was a reason for that tremendous volume in TWM lately.
Price target: 1.190 area, before the end of March, then another run up.
T3H B3RNaNK WUZ R0Ng!!!
H3LP M3 T1MMAY!!!
Why is the 55 so important, when it appears the same is true for the 50 DMA?
Because the double nickel was institutionalized back during the OPEC oil embargo and gas shortages of the 70's. This is why the young traders are ultimately gonna get monkey hammered. They don't know about CB radios and "breaker breaker one nine", critical info to have in today's market.
Only get half of that, but the half I got was damned funny.
10-4 Good buddy.
Ooops, that wasn't so cool was it?
10-4 good buddy! LOL ;-)
http://www.youtube.com/watch?v=HWO_AIh8drk
Looks like it hung up at 1299 for a while and recovered. Trading day is over now, but not too late to BTFD.
Yeah, who still believes technical analysis is worth a sh*t???
We'll probably close green today...
I'll believe it when AAPL goes under $300.
maybe pimpco is positioning to by the dip
maybe its on
HERE COMES THE CALVARY!!!
MIRACLE MYSTERY RALLY ENSUES!!!
Yeah, getting all evangelical might work: Pray for some help.
But the cavalry might "save" you instead. Go, Custer.
looks more like the november patern to be repeated to me...
Yup. Going to make a coffee and see what this looks like in an hour. Can't trade if I can't buy anything.
try selling first?
Don't hold anything longer than a couple of hours these days. All my positions are closed as of yesterday at around 1:30. Holding anything longer than a couple of hours is a good way to get killed trading.
Wow.....Nice.....Manipulation in a picture.....
Frame it on up.
I almost thought this was a joke...
http://noir.bloomberg.com/apps/news?pid=20601087&sid=adxTfegoxk3U&pos=7
+1 great find
The article even looks like a fake with that mug shot of Lloyd - Amazing
You couldn't make this sh_t up.....
It's very telling.
Only problem is, I don't know what it's telling me.
They're buying up the whole country. They have to go somewhere when they see the torches and pitchforks coming down the road. New heli-pad installed on the roof of the Fed building to get them outta Dodge in a hurry. Russia will welcome them as liberators, Cheney says so.
did all the Bolsheviks ever leave?
Don't know... don't care. My Russian is rusty. I lied, it's non-existent.
I can't get over this. Our TBTF bankers teaching a former communist country how to centrally plan the economy. We are through the looking glass... This is how deep the rabbit hole goes.
Brilliant! Whose idea was that and what took them so long to figure it out?
Ruskies play hardball and those guyz better hire food testerz.
FED will go long tomorrow
Please dont tempt fate - the fate being stocks rip higher in a day or two. Most sane people want to buy a bargain , not chase rapidly appreciating prices. Everytime we think markets are going to start pricing in the real economy we get some nonsense out of the Fed. Id love if it ZH could try to fool the Mocking Gods and post some positive stuff - then we are sure to see a "correction"
Will there be mass protests in the Saudi sandbox tomorrow.
If yes, I think I will watch from the sidelines today.
If no, than I definitely want to BTFD.
Any guesses?
Looks like ZH missed the announcement by the SEC. No selling at lower than your basis price.
Of course that TA is irrelevant in a market like this.
Nevertheless, what could serve the interventionists better than a nice pullback over geopolitical risk to justify "further measures".
I can hear them already: we thought that QE2 was enough, but given the negative effect that the geopolitical situation had on markets, and the fact that it has endangered the course of a yet fragile recovery, we are now forced - against our earlier plan - to extend our support vi QE3, there by promoting the creation of jobs...
It's all good!
absolutely. and failing that they can always scream "nashunul suckurity" and maybe make it illegal for ES to go below 1000....... or maybe require Dow to grow at 8%
ladies and gentlemen, let's give a warm round of applause for our newest member into the club of pissed off nations people...Croatia.
The masses have taken to the streets of Zagreb, Rijeka, Split and ?akovo. As they marched through the streets of their cities, demanding change, they were joined by a large number of curious passers-by who were suddenly drawn to this spontaneous expression of discontent. The illusory “alternatives” of the official opposition provide little solace and now a wave of anger, action and revolt against social injustice, increasing unemployment and corruption, against the ruling class thieves, has swept the country.
http://news.infoshop.org/article.php?story=20110308035502781
And more, sounding like they are from Wisconsin:
i see all major markets down 1-2% and USDx up .6%
yep, both the fste and dax are getting smoked..
I see dead people
Can I borrow your crystal ball? I've got some horses at Oaklawn I'd like to follow up on.
Squeeze that dog doo NFLX!
EURJPY hardly moved within its 25pt range all the while USD moved and Cable tanked. Very strange. Something is definately going on or being kept from public ears/eyes.
Reverse Repo?
S&P still hanging in there... According to my screen... 50 DMA is 1298.5
it would have to close below the 55 dma (actually, i've always used the 50 dma). that is how charting use to be done anyway. it hasn't really worked in 2 years.
even if it were to happen, be careful. it could be an incredible head-fake opportunity for the plunge protection team to empty your trading account. keep your powder dry, and your stops tight.
This sell off is the equities version of PIMCO's US Treasuries sell off.
The elephant standing in the room: Mr Bermunkey, are we going to have QE3?
If not, sayonara twerp.
The 50 DMA is used by a vast majority of traders and its now been breached for the nasdaq, RTH, XLF etc... etc... etc...
Going to be a brutal next 5-7 sessions
im looking at world markets on here
http://netdania.com/Products/live-streaming-currency-rates-foreign-excha...
has nasdaq100 down 1.6% at 2295
djia 30 at just ovwer 12000 down 1.6% also
QE3 and more Dollar devastation right around the next Quarter.
yeah gold and silver taking a thumping to, silver down %3, gold over %1 or 16$
further it drops, more i can buy
c'mon gravity....
I backed into cash last week. I knew somehow, someone was going to find a way to tamp down commodities and here it is. I am staying my hand from buying DGP/AGQ here (my favorite table) though because it looks too obvious.
NASDAQ getting smizzoked.
Silver down 3% too.
Yes, the market is going to call Bernanke's bluff on QE3, one way or the other.Tthey can't wait to know until May, Ben.
yup
Yes, the market is going to call Bernanke's bluff on QE3, one way or the other. They can't wait to know until May, Ben.
S&P is through the 50 DMA
check the charts...breached 50dma just barely (like now) two days straight in late Nov before blasting off for another ~150pts
Nothing secret going on here.... this pattern has set up over the past 2 weeks. Huge selloff when the Nasdaq broke the 50 DMA. Looks like the $SPX is too. $INDU setting new short-term lows...
It's a purely technical breakdown... The news is just noise.
...said the fella whistling past the graveyard.
Bernanke just BTFD!
Didn't the retail investor start piling in recently. They drove the market up just to take his money. what a fool.
Ben et all are selling naked oil in hopes of containing the downdraft...imagine if oil was up 5% today like it should be?
Actually, I think a market crash is going to take care of all these inflationary pressures, i.e oil, cotton, etc.
It will also make a good time to buy gold/silver as it will drag those prices down to.
does seem kind of wacky for oil to be down ahead of tomorrow's day of rage
Sig, I don't even bother to pound the table on this. The Day of Rage is a twitter-induced fantasy. Adults are still in charge.
The PIMCO sell was clearly bigger than anyone thought.
It is not like the crash wasn't telegraphed.
We all knew it was coming why are you freaking out people?
relax The Chairsatan went for a crap, he'll be back soon enough
a major rush for liquidity?
Yeah really,
You take 56 billion off the table and the world finally notices.
Man what a fucked financial sector and investor group we have today.
The next support is when Lloyd and Jamie say it is.
bingo
Like some of us said, the flations will be sporadic based on the Japanese model
The new inflation fighter in the Fed arsenal is deflationary collapses intermixed with 1000 dollar corn and 10,000 dollar silver.
No worries just buy and sell as you fly by your targets either way. You won't hit your sell or buy but at least you'll feel like you are on a thrill ride.
Whatever you do though, don't pretend that you actually know what the fuck they are doing.
Cause you don't
The DJIA (/YM) held above it's 55 day... if it breaks(11,911), you have confrimation across all major indices.
Well the 1297 55Day MVA may have been taken out, but the Feb 24 low of 1294 has held so far. Unless that gets taken out, I don't think you'll see any real fireworks.
If 1294 does get taken out, it might get interesting.
back in the day, i would have set a /es short at 1294.50 with a stop out at 1295.50. right now, if it breaks up, i loose a point, but if she breaks down its money time.
i called it an "ambush"
the maggots can see your stops.
+1 buzzsaw hence no more electronic stops for me.
And with that, you would have been stopped out.
back in the day, i wouldn't have physically set a stop, but would have the buy set and ready to execute. so they couldn't see to sweep me. bad i know, sometimes you take a huge candle right in the bunghole. but if you hit 2 out of 5 in a day, you could make good money
Last ditch attempt at trying to save a sinking currency.
Pull the plug on the markets in a concerted effort, drive down commodities and pray, hope that investors pile back into UST, or any USD backed paper in their precarious "flight to safety".
The dead cat bounce is out of the bag. The USD is fucked and nobody wants it anymore.
US is broke on federal, state and municipal levels.
Trade accordingly.
not a fan of using DMA, but that said... i'll say THIS again, as hopefully this time i'll get a better response- short this market! names i'm looking to short: http://www.hedgefundlive.com/blog/short-this-market-ill-say-it-again-which-names-to-short
I think the 63 1/4 day average is more important. Or maybe the 69.
The head and shoulder formation has lost revelance. The head,cock and pussy pattern is much more powerful and reliable. The inverted is infallible. If you are in postion for the inverted you can't lose
This charade is not over; yet. The SPX is holding above 1294 and the HUI is holding above 530. Inflation is still in control, although the grip is tenuous.
Spot gold would have to trade below 1308 to even raise an eyebrow.
This action is a total yawn. The DXY is a complete irrelevance below 79. Below that level, it is a one way ticket south.
Above that level, you'd better get out Grandma's recipe for grass soup.
so I think.
The very overdue Wile E. Coyote correction has arrived and a substantial leg down has begun in my opinion.
http://stockmarket618.wordpress.com
I love that chart...
Naw... There's no Viagra in use there...it's all natural...no, REALLY!