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E-Mini 100 DMA Support Breached

Tyler Durden's picture




 

The bullish chartist and Johnny 5 portion of the stock market (which is about 99%) can not be happy: the next ES support is at the swing low of 1241.25, although the 200 DMA looks like a target at 1237.85. We believe a firm bottom exists at 400. And for all those asking, today's ES volume was the 2nd highest since March.

The 200 DMA support:

 

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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

bullshartist

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:

http://thespiritoftruth.blogspot.com/2011/05/edge-of-cliff.html

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:

http://algofutures.com/wow-indices/wow-index-sp-500/swing-trading-chart/

Hope that you find this interesting.

Carl

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

Buzz,

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

ROFL!

 

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!

Wed, 06/01/2011 - 20:01 | 1330868 Bear
Bear's picture

I have been waiting for this to happen for the last 12 months ... 

Wed, 06/01/2011 - 16:42 | 1330263 Mxriderbp
Mxriderbp's picture

 

Perfect timing to have it happen the day after the CME drops margins on ES futures. Looks like either the PD's took advantage of the policy change to leverage up on their shorts and dump on the retails, or they dumped on the retails after they leveraged up to go long. It will be interesting to see what the follow up move will be.

 

Wed, 06/01/2011 - 17:49 | 1330488 Bear
Bear's picture

Beware the NFLX

Wed, 06/01/2011 - 16:48 | 1330267 Bazooka
Bazooka's picture

SLV has started it's Wave III down. Wave II was an abc classic corrective that ended yesterday. If Wave III lives to its attribute, it will be the longest of the five waves down. I project that $25 will be a possible stop point for Wave III down. 

Obviously this analysis will piss off many...but it's how I see it.

Disclosure: Long VXX, FAX and UUP

Wed, 06/01/2011 - 16:45 | 1330278 Commander Cody
Commander Cody's picture

Why are you a Cheeky impersonator?

Wed, 06/01/2011 - 16:46 | 1330284 Bazooka
Bazooka's picture

It's my way of saying: NoBama!

Wed, 06/01/2011 - 17:04 | 1330356 Cheesy Bastard
Cheesy Bastard's picture

Yeah, why are you a....oh, wait.  nevermind.

Wed, 06/01/2011 - 17:57 | 1330497 ReallySparky
ReallySparky's picture

CC, My thoughts exactly.  Can the gentleman kindly change his avatar.  His current avatar is reserved for the immortal Cheeky Bastard, that is sorely missed by all veteran ZH'ers.

Wed, 06/01/2011 - 20:01 | 1330869 Cleanclog
Cleanclog's picture

Where did Cheeky go?  He was awesome.  Did he just become too pissed off at some point?

Wed, 06/01/2011 - 16:57 | 1330310 hack3434
hack3434's picture

Here come the wave bugs...

Wed, 06/01/2011 - 17:03 | 1330350 cognus
cognus's picture

I shall not assume guilt by association..  PM trade and 'commodities' not in lockstep.  keeping powder drive for Ag.

Wed, 06/01/2011 - 16:51 | 1330298 topcallingtroll
topcallingtroll's picture

In aggregate we lived on credit the last 30 years.

Prepare for a lower standard of living as we pay it back, default, inflate, fail to expand credit, etc.

Credit probably cant expand like it has coming out of previous recessions.

Wed, 06/01/2011 - 19:13 | 1330718 cxl9
cxl9's picture

Well, yeah. In the last four decades, the life expectancy of a 65-year-old in the United States has gone up five years. Retirement ages stayed the same, so people got an extra five years of leisure which was primarily financed with debt pushed off on to future generations. "Gimme an extra 5 years of vacation, a big mobile home, and send the bill to my grandkids." The banks and governments supplied the means and the muscle to do this, of course, and took their cut. Now the question seems to be whether or not this intergenerational debt will be repudiated. Of course it will. One way or another that bill is not going to be paid. It just remains to be seen who's left standing when the music finally stops.

Wed, 06/01/2011 - 16:52 | 1330304 ghostfaceinvestah
ghostfaceinvestah's picture

Carter Worth was on Fast Money last week telling me all was fine.

Wed, 06/01/2011 - 16:56 | 1330305 RobotTrader
RobotTrader's picture

Today was one of the nastiest unexpected reversals I've seen in a long time.

If we get more follow through, might be time to go short big.

In the span of 24 hours, the market went from pricing in a "consumer spending boom of epic proportions" to "global depression dead ahead"....

Gotta be nimble and quick..

Wed, 06/01/2011 - 16:54 | 1330313 Internet Tough Guy
Internet Tough Guy's picture

lulz. What a maroon.

Wed, 06/01/2011 - 16:58 | 1330317 buzzsaw99
buzzsaw99's picture

:thud:

Wed, 06/01/2011 - 17:10 | 1330387 lieutenantjohnchard
lieutenantjohnchard's picture

hilarity ensues when the unemployed, part time, contract 1099 processor speaks.

Thu, 06/02/2011 - 01:08 | 1331551 10kby2k
10kby2k's picture

 

Robot Trader---it wasn't even an intra day reversal and was only a few percent. You are very new to this game.

Wed, 06/01/2011 - 16:54 | 1330312 monopoly
monopoly's picture

That was quite the drop in silver the last 30 minutes. Hate to say it, but raised some confetti today. Had a good run. Man this market is tough. PMs can move lower for a while over if this is reality setting in. Friday gonna be wild.

Wed, 06/01/2011 - 16:56 | 1330321 RobotTrader
RobotTrader's picture

And my prediction stands.  If ES drops below the March lows, the 10-yr. yield will be at 2.00% and nobody, I mean nobody, will be hassling the Fed about the debt ceiling.  In fact, Congress will be demanding QE3, QE4, QE5, etc.

Wed, 06/01/2011 - 17:02 | 1330328 buzzsaw99
buzzsaw99's picture

except for one man, with an ak-47 and a honda full of silver.

Wed, 06/01/2011 - 17:04 | 1330355 Internet Tough Guy
Internet Tough Guy's picture

yesterdays prediction still stand?

Crisis now over, nobody needs gold, but they are clamoring for bank stocks
RobotTrader - Mon, May 30, 2011 - 10:55 PM

Heh, so typical.

Probably see a huge run in bank stocks tomorrow while "safe haven" plays get dumped now that the crisis is over.

Wed, 06/01/2011 - 17:05 | 1330363 lieutenantjohnchard
lieutenantjohnchard's picture

utter horse hockey. in your many flip flops, twists and turns you may have said something along these lines. but you also said the opposite, too, which overrides the previous "prediction." in fact, you were talking smack yesterday about imminent breakouts to the upside, not fighting the fed, being uber bullish and mocking gold.

24 hours later you're saying the opposite. just for the record internet tough guy and sheep dog have been posting your wrong calls from your original posts.

you fool nobody but yourself.

 

Wed, 06/01/2011 - 17:06 | 1330369 HpDeskjet
HpDeskjet's picture

Congress is discussing Obama's "We will reduce our budget deficit by 4 trillion in 10 years"-spending cuts => No QE# needed

Wed, 06/01/2011 - 19:44 | 1330821 kornholio
kornholio's picture

robo, you dont know what the fuck you are talking about, so just stfu

Thu, 06/02/2011 - 10:01 | 1332104 cranky-old-geezer
cranky-old-geezer's picture

Why does TD give contributor status to dumbasses like RT, GW, CD, LeoK, etc, who publish a stream of worthless shit, even off-topic worthless shit in the case of GW and CD?

Did those morons get contributor status back when ZH was blogspot?

Isn't it about time to do some housecleaning through the contributor list? 

Wed, 06/01/2011 - 16:57 | 1330325 JuicyTheAnimal
JuicyTheAnimal's picture

Is it finally time to short treasuries or keep waiting? 

Wed, 06/01/2011 - 17:03 | 1330329 buzzsaw99
buzzsaw99's picture

it is always a good time to short treasuries.

(note: long treasuries, lulz)

Wed, 06/01/2011 - 17:36 | 1330455 Dr. Engali
Dr. Engali's picture

Not until after the market collapse. Until then they are still a "safe haven".

Wed, 06/01/2011 - 17:04 | 1330334 cognus
cognus's picture

the market is obviously racist...

Wed, 06/01/2011 - 17:29 | 1330433 Joeman34
Joeman34's picture

Lol, it's funny, just because...

Wed, 06/01/2011 - 17:04 | 1330340 Franken_Stein
Franken_Stein's picture

 

S&P500: This index is too important to die.

 

Wed, 06/01/2011 - 17:05 | 1330366 Cdad
Cdad's picture

And here comes the Nanosecond freak show with the refrain, "Global Growth Story."  Per Durden comments earlier today, and these guys get paid why?  A freakin' well trained parrot could give this advice.

Wed, 06/01/2011 - 17:52 | 1330479 Cognitive Dissonance
Cognitive Dissonance's picture

Ac-ck.

Polly says "Buy The Fracking Dip".

"Now where's my Gold. And NO paper this time. Physical. You hear me. PHYSICAL."

Wed, 06/01/2011 - 17:58 | 1330505 Cdad
Cdad's picture

Poly needs to be retrained.  "Ac-ck...buy canned goods...Ac-ck"

Did you catch that Lavorgna appearance on Nanosecond Money, brother Cog?  Ummm....clearly the heat is on Joe until the disasterous Friday unemployment number is released on Friday.  Methinks maybe Joe was tracking ZH today.

Wed, 06/01/2011 - 18:32 | 1330630 g
g's picture

What a putz, Lavorgna is. Thx for the posting that link CD, I needed to be entertained.

Wed, 06/01/2011 - 18:35 | 1330637 Cdad
Cdad's picture

LOL!  Hard swallowing, breathlessness, and he even gave an odd nonverbal right at the moment when he tried to suggest [lol] that the inventory rebuilding cycle was just getting going.  Uh huh.  He touched his forehead as if to say, "Man, I cannot believe I am about to say this but..."  Perhaps, he missed Tyler's inventory stuffing at GM thread?  What, we might need to build a few more GM trucks...mid to late 2012?

You know, I'm not sure if he gets fired for his incompetence as an economist, or a bonus for going out onto the BlowHorn and having the stones to say the things he said.

In any event, I hope he had the wife run some Scrubby Bubbles over ye old toilet bowel...poor sap.

Thanks brother Cog.  

Wed, 06/01/2011 - 18:50 | 1330668 g
g's picture

You know, I have found that I like ZH more everyday. Not only is it a great source of information, on a daily basis my knowledge increases. But it is a great source of entertainment, and I mean that in a complimentary way. Better than anything on TV. Someday everyone else besides the ZH community, will look back and realize just how far ahead of the curve the ZH community was versus the MSM, sheeple, banksters, politicos, etc.

 

Any plans for a ZH channel delivered to the home via satellite, cable, fios, etc? Maybe on channel 666.

Wed, 06/01/2011 - 18:53 | 1330684 Cognitive Dissonance
Cognitive Dissonance's picture

Remember when he anticipated being asked his view of where unemployment would be at the end of the year and he blurted out 8% only to quickly realize he was being asked for the number for May? Interesting what people expect to be asked and the answers they give. Or was he told the line of questioning in advance?

Enquiring minds want to know.

Wed, 06/01/2011 - 19:23 | 1330689 g
g's picture

.

Wed, 06/01/2011 - 19:19 | 1330737 Cdad
Cdad's picture

Or was he told the line of questioning in advance?

 

I am very much of the mind that everything these BlowHorn anchors and guests say is entirely scripted.  Furthermore, I think these scripts are written by bankers.  Maybe it is the case that it all comes from the board level.  Not sure.

The first line of proof is the absolute irrelevance of so much of their coverage.  Greece in flames?  Cue up a story about Kung Fu Panda 2.  CDS rising on US debt?  Let's go inside the mall and check new fashions at The Gap.  Gasoline prices accelerating?  Let's talk alternative energy.  The genuine irrelevance of their coverage is simply flabbergasting.  

The second test is their never changing mantras:  Global Growth Story, historically cheap valuations, buying opportunity, economic recovery.  Can anyone remember the last time anyone on the BlowHorn told you to sell?  I can remember once...late in 2008 [when criminal syndicate Wall Street bankers were on the prowl for cheap covering shares].

Interesting back story now emerging about certain parties wanting out of the outstanding stake in NBC now...putting comcast in a bind.  Upcoming license renewels are supposedly [according to the BlowHorn] worth more than the 51% of the NBC stake COMCAST owns.  It is a story that bears watching, and perhaps one that would suggest selling COMCAST.

One day, someone is going to want to restore integrity to NBC...not that there is any sign of that on the horizon.  Like the market, perhaps what is required to fix all of this is the purging of bankers from the ranks.  How about a hiring spree...of journalists?

Wed, 06/01/2011 - 20:05 | 1330879 Cleanclog
Cleanclog's picture

Agree that Qs are often, if not always, scripted.  The running commentary blurbs that read across the bottom like breaking news sometimes before the guest even says the line are a tip off.  Same with the charts of a stock or other piece of data that they flash while guest is speaking of same.

We may simply call it medicating media.  CNBC does it all the time.  Bloomberg less so.

Wed, 06/01/2011 - 20:21 | 1330915 Bazooka
Bazooka's picture

Ho do you post images?

Wed, 06/01/2011 - 17:20 | 1330403 sasebo
sasebo's picture

Why's stupid asshole Bernanke printing all that free paper money & giving it to the TBTF? Simply as everyone knows, those with the most free paper money control stocks, commodities, the politicians, the government, everything, the world. He just wants to make sure the TBTF's have more than the Chinese.    

Wed, 06/01/2011 - 17:31 | 1330438 buzzsaw99
buzzsaw99's picture

astute

Wed, 06/01/2011 - 17:28 | 1330425 I am a Man I am...
I am a Man I am Forty's picture

remember those muni bonds that were so hated last month?

Wed, 06/01/2011 - 20:29 | 1330941 jm
jm's picture

Yup.

Wed, 06/01/2011 - 17:45 | 1330465 Catullus
Catullus's picture

Looking at the USD... This looks like a giant headfake. Though the EUR/CHF trade got murdered today. Is someone in Europe liquidating?

Wed, 06/01/2011 - 17:59 | 1330502 flyr1710
flyr1710's picture

no pomo tomorrow....will drop the ES mini margins again though

Wed, 06/01/2011 - 18:03 | 1330516 aerial view
aerial view's picture

Stock market that actually drops for a day

Please save us with more QE

Ok, go back to the herd, sheeple.

Wed, 06/01/2011 - 18:05 | 1330530 Lost Generation
Lost Generation's picture

The US is the next Japan.  The NIKKEI and Japanese real estate markets have declined steadily over the last 20 years in spite of near 0% interest rates.  The US will follow in their footsteps..no conspiracies, no man behind the curtain, no Goldman rules the world.  Just too much debt and no politically feasible way out other than to delay the decline.  Everyone is scrambling to make a dollar including the 'political elites' and will continue to do so for a long time.  

Wed, 06/01/2011 - 18:09 | 1330535 Greeny
Greeny's picture

Stock market is fine, Bernank watching it,

QE3 is coming and Today Index shorts will eat their socks like next Monday

at longest, watch and learn... Those doomsters been short since 2009

and never get it.. Don't fight the FED, punks.

 

 

Wed, 06/01/2011 - 20:12 | 1330899 American Dreams
American Dreams's picture

Count my fingers, your number one!

 

there be no shelter here

Wed, 06/01/2011 - 18:41 | 1330641 chartcruzer
chartcruzer's picture

also,

a 13/34 EMA cross today on the daily along with the % of stocks below their 50 day moving average.   The PSAR should through a sell Thur.   Just about time to start loading up on shorts.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3225058&cmd=show[s162488959]&disp=P

Wed, 06/01/2011 - 18:48 | 1330671 Glitch
Glitch's picture

 I don't think TPTB are stupid. I think they know exactly what they are doing and I always assume that anything I know, they know. All this talk of QE3, crash equities and the street begs for it. Seems a liitle heavy on one side of that trade. What if it doesn't happen? These last few years have felt like a semi-controlled decent and there are some scary mechanisms in place.

Wed, 06/01/2011 - 19:09 | 1330712 kito
kito's picture

just bought some dia shares. it just doesnt feel like the end yet

Wed, 06/01/2011 - 19:46 | 1330840 The Axe
The Axe's picture

i keep looking at charts...I keep using research, I keep using the tools that help me navigate the markets in the past.......its all gone...

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