• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

E-Mini 100 DMA Support Breached

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Wed, 06/01/2011 - 16:31 | 1330177 Jasper M
Jasper M's picture

"bullish chartist"? If by "chartist" you mean technical analyst, I think that has been something of an oxymoron in this market for a Some time. 

Wed, 06/01/2011 - 17:11 | 1330390 fuu
fuu's picture

If you say it fast enough it sounds like "Bullshit artist".

Wed, 06/01/2011 - 17:22 | 1330416 Cthonic
Cthonic's picture


Wed, 06/01/2011 - 18:12 | 1330559 Hard1
Hard1's picture

+ 1 trillion (sorry, next years prices)

Wed, 06/01/2011 - 18:32 | 1330625 Soul Train
Soul Train's picture

Don't we need a nice flash down in June to the 200 SMA to justify QE3?





Wed, 06/01/2011 - 20:11 | 1330895 Spirit Of Truth
Spirit Of Truth's picture

We are right at the lower trendline of support underneath the market since the March 2009 low from what I can tell:


Wed, 06/01/2011 - 16:28 | 1330182 slow_roast
slow_roast's picture

What is this "volume" that you speak of?  Can't the Fed just buy it?

Wed, 06/01/2011 - 16:32 | 1330186 Bazooka
Bazooka's picture

I smell a flash crash coming....in equities and GLD and SLV. I will say I was wrong if during the next collapse, GLD and SLV screams to new highs. 

Wed, 06/01/2011 - 16:37 | 1330218 Internet Tough Guy
Internet Tough Guy's picture

You are an anonymous internet poster; control your inflated ego.

Wed, 06/01/2011 - 19:09 | 1330710 Dirtt
Dirtt's picture

Back off!!!

Some of us work very hard at hyper-inflating our anonymous egos. Not only is the job security solid but you never get a W-2 or 1099.

Got it Tough Guy.  Any way it helps us be nice to others in public when they echo the MSM.

Wed, 06/01/2011 - 17:05 | 1330344 tmosley
tmosley's picture

GLD and SLV will crash, but gold and silver won't.  They might be on sale for a while, but the premiums will rise significantly, and they will do so more and more until the price is 100% decoupled.  Hell, that happened during the recent move up in the spot price, where premiums fell.

Paper will burn.  Metal will rock.

Wed, 06/01/2011 - 16:33 | 1330196 Cognitive Dissonance
Cognitive Dissonance's picture

Here you go Cdad. You asked and Tyler posted.

Wed, 06/01/2011 - 16:58 | 1330251 Cdad
Cdad's picture

Thank you brother Cog and Tyler...although if you use the one year index chart and insert those sma's, the one day technical failure today is even more spectacularly on display.  But I shall content myself as I report to my martini shaker now while daydreaming about pink slips at the JP Morgue and preparing to draft my entry to the ZH poetry contest...a poem which I shall entitle "Bidless."

Good grief [and by that I mean f*ck Jamie Dimon....and no, K. Finerman, I do not mean that literally speaking]

**firm bottom exists at 400**

You kill me, Tyler.

Wed, 06/01/2011 - 17:51 | 1330483 Cdad
Cdad's picture

LOL!  Did anyone just catch that Joe Lavorgna appearance on the BlowHorn's Nanosecond Money show?  Lolololol!  He literally was struggling to keep his chuncks down.  Precious.

And here we were earlier joking over brother Cog's toilet capture.  

Wed, 06/01/2011 - 16:34 | 1330204 Bazooka
Bazooka's picture

FED: Public and political contempt towards the FED will become feaver pitch as the markets descend, plunge and crash to all time generational new lows. 

This is when squid face will be hauled into court for crimes against the people. Once the crash has progressed or come near to end, Fuld will be arrested and tried and sit next to Madoff. Social mood will demand it and neither the Fed nor Congress is greater than the market.

Wed, 06/01/2011 - 16:37 | 1330219 Joeman34
Joeman34's picture

You are delusional.  The entire world will blow-up before GS is put on trial.  You don't get it...  The FED is the market. 

Wed, 06/01/2011 - 16:54 | 1330311 Whizbang
Whizbang's picture

yup, don't fuck with them.

Wed, 06/01/2011 - 19:36 | 1330790 American Dreams
American Dreams's picture

Yup, Fuck You!


there be no shelter here

Wed, 06/01/2011 - 16:41 | 1330254 GeneMarchbanks
GeneMarchbanks's picture

Prophecy!!! Deflation!!! Bazooka you're on a roll pal, so wait for $450 gold in 2016 and then buy gotcha thanks.

Wed, 06/01/2011 - 16:53 | 1330303 WSMassiv
WSMassiv's picture

I tend to agree with the deflationist argument...However, I would suggest that there will be some sort of 'other' distraction before banks like GS are prosecuted.

After all the government has removed all obstacles so far, IE:

1. Defunding the SEC and other watchdog agencies

2. Repealing Sarbanes

3. Creating new all encompassing "financial laws" (Dodd-Frank)

4. Reducing civil liberties VIA the patriot act and other misc federal and state laws

Most average people will be happy not being molested by the government and the banking class, to even bother trying to prosecute them.

Wed, 06/01/2011 - 16:36 | 1330207 camoes
camoes's picture

Needs to drop more so that The Bernank and Timmah come to the rescue with QE(n+1)

Wed, 06/01/2011 - 16:33 | 1330209 Id fight Gandhi
Id fight Gandhi's picture

Better lower the margin rates on the ES again.

Wed, 06/01/2011 - 16:36 | 1330211 stormsailor
stormsailor's picture

sold my /es short at 1313.00,  it went out on a low,  usually will bounce.

Wed, 06/01/2011 - 16:34 | 1330222 Let them all fail
Let them all fail's picture

did the same with some SPY puts, will look to repurchase with a small bounce tomorrow...

Wed, 06/01/2011 - 16:40 | 1330253 slow_roast
slow_roast's picture

I sold my SPY PUTS on 2 separate occasions only to buy them back.  If there's a bounce tomorrow I may double my position.  I'd be surprised if the world doesn't swoon overnight and give the USD a boost.  The Euro may shit itself when Europe opens. 


Here's to all the fun we're having!

Wed, 06/01/2011 - 16:44 | 1330256 scatterbrains
scatterbrains's picture

I got your bounce dangling...    at around 1200ish

Wed, 06/01/2011 - 16:37 | 1330213 TapeReader
TapeReader's picture

It's not just how much volume, but what type of volume.

Is the volume dominated by Buy Programs or Sell Programs?

If the volume spikes and it is dominated by Buy Programs the market will go up.

If the volume spikes and it is dominated by Sell Programs the market will go down.

....you can monitor the Order Flow Momentum amongst Buy and Sell Programs, in real-time, for free, here:


Hope that you find this interesting.


Wed, 06/01/2011 - 16:43 | 1330249 mynhair
mynhair's picture

Thanks for the new chart porn.  Interesting....

Wed, 06/01/2011 - 16:37 | 1330216 Cdad
Cdad's picture

Barring the always not so transparent hand of the Fed buying contracts, the algo's will have no "logical" choice but to simply liquidate equities.  Especially HFT'd equities priced for stupid.

But I'm sure we will be treated to days and days worth of "buying opportunity" commentary over at the BlowHorn in a last ditch attempt to get Average Joe to step up and buy criminal Wall Street banker pipe dreams.

The two year "confidence experiment" has finally ended badly.  The US stock market is nothing short of a bad joke, and today was the first of many punchlines to come.

Would someone report to the Eccles building and drag Ben Bernanke out of there and clap him in irons, please?

Good grief [and by that I mean who does Wall Street think they are kidding with all of this nonsense?  And where are the long awaited layoffs at the TBTF banks, too?]

Wed, 06/01/2011 - 16:44 | 1330271 Cleanclog
Cleanclog's picture

Gonna be difficult for the pension plans to make their 7+% returns.  CALPERS will lead California into ruination.  Greece the metaphor, not the contagion.

Say it again and again - Debt Saturation!

Wed, 06/01/2011 - 16:53 | 1330308 Cdad
Cdad's picture

From your mouth to God's ear.  Although I'm sure Californians will thrash about and make a big scene as they are being dragged out the door.

Wed, 06/01/2011 - 16:37 | 1330217 Bazooka
Bazooka's picture

How do you post images/graphs on this board?


Wed, 06/01/2011 - 16:40 | 1330236 Henry Chinaski
Henry Chinaski's picture

impress tyler or something

Wed, 06/01/2011 - 16:54 | 1330293 fuu
fuu's picture

You have to be a contributor of articles.

Wed, 06/01/2011 - 16:34 | 1330220 mynhair
mynhair's picture

Freeking awesome!  Hope the gap down tomorrow is small.

Wed, 06/01/2011 - 16:38 | 1330223 Henry Chinaski
Henry Chinaski's picture

practically another hindenberg omen

Wed, 06/01/2011 - 16:39 | 1330229 Misean
Misean's picture

This is bullish, right?

Wed, 06/01/2011 - 16:39 | 1330231 buzzsaw99
buzzsaw99's picture

robo will now explain to us all that an unbroken series of higher lows is uber-bullish and everyone should buy NFLX on a 1% correction.

Wed, 06/01/2011 - 16:46 | 1330268 Cdad
Cdad's picture


I think you need to check your news headlines on NFLX from this afternoon.  Ummm...getting harder to hide those ramping costs in that off balance sheet warehouse they don't much talk about over there.  Looked like a blow off top to me, as well.

Talk about your monument to gross misallocation of capital.

Wed, 06/01/2011 - 16:56 | 1330306 buzzsaw99
buzzsaw99's picture

blasphemy. the momo gods will avenge.

Wed, 06/01/2011 - 16:36 | 1330233 icm63
Wed, 06/01/2011 - 16:40 | 1330234 oogs66
oogs66's picture

This post makes me feel like Becky waiting to interview Warren.

Wed, 06/01/2011 - 16:42 | 1330248 Misean
Misean's picture



Wed, 06/01/2011 - 16:37 | 1330237 RocketmanBob
RocketmanBob's picture

I wonder what happened to the plunge protection team today? Who blew the stick save?

Wed, 06/01/2011 - 17:56 | 1330503 richard in norway
richard in norway's picture

unintentional junk, fat finger on a small screen


i was going to say that the plunge protection team was out in force today and operating on a worldwide basis, every patch of resistance was worldwide, how can twenty markets change direction at the same time, not just once but again and again and again in one day, twice in less than a hour. i used to think people on this board were paranoid, but not anymore

Wed, 06/01/2011 - 16:38 | 1330244 Missiondweller
Missiondweller's picture

"We believe a firm bottom exists at 400."


And that's where I'll be a buyer. Until then, gold,silver & cash

Wed, 06/01/2011 - 16:49 | 1330274 Commander Cody
Commander Cody's picture

S&P at 400 or at 400 dma?

Wed, 06/01/2011 - 16:42 | 1330245 ParaZite
ParaZite's picture

I say look for a flash crash in commodities, trying to wipe out every one's holdings by inspiring fear in the market. People will sell their silver and gold for pennies on the ounce to the banks, and then they will push the price up once they hold the majority of the physical silver and gold. Let the looting begin!

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