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Following A Plethora Of Technical Breakdowns (And Outs), Here Are The Charts That Matter Next Week With Podcast

Tyler Durden's picture


As usual, attached is the complete set of "charts that matter" next week from Goldman's John Noyce, which will hopefully be a useful source of technical clues for anyone trading the all too critical EURUSD which has become the defacto driver of global risk courtesy of 100% correlated ES algos. Being the primary variable doesn't make it any easier to predict: as Noyce observes, "EURUSD trades to new lows then squeezes back into the range - as ever this leaves quite a confused ST picture which makes it difficult to make a strong daily chart based call. The daily chart setup has again become confused at best, but the underlying structure still looks heavy and as such a sell on rallies bias still seems the one to stick with." While in the past we have agreed with Noyce outright (we is by far the best technician at Goldman) this time we are concerned that the EUR is the only one looking at big weakness. The reason why a straddle may be the best trade ahead of next week is that by next Friday many question marks should disappear: on July 21 the Euro parliament will convene for an emergency meeting at which some speculate Greece's fate may be decided, leading to a "soft" or "transitory" default which will send the EUR plunging at least briefly. On the other side of the Atlantic, we have Congress which is supposed to reach a decision (or not) by Friday the 22nd in order to meet the August 2 deadline. If no solution is reached in the next week, it will be the dollar's turn to plunge. So yes, next week will be critical. In addition to the above, Noyce touches on the technical breakout patterns in the BTP and the SPG chart, associated euro FX correlations, and the recent breakdown in JPY. Probably the biggest question is whether the right shoulder of the S&P H&S formation means a major drop back to the 1,260 level is imminent.

The Head and Shoulders formation in the S&P is glaring:

Full podcast:

Charts That Matter Audio by user5452365

And complete presentation:

Charts That Matter 7.15


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Fri, 07/15/2011 - 18:52 | 1461134 Buckaroo Banzai
Buckaroo Banzai's picture

So confusing. Can I just buy gold instead?

Fri, 07/15/2011 - 18:53 | 1461139 camaro68ss
camaro68ss's picture

silver is just as good

Fri, 07/15/2011 - 19:08 | 1461166 Dr. Engali
Dr. Engali's picture

I like to buy both.

Fri, 07/15/2011 - 19:15 | 1461175 Long-John-Silver
Long-John-Silver's picture

Diversification is having Beans, Bullets, and Bullion.

Fri, 07/15/2011 - 19:18 | 1461178 Dr. Engali
Dr. Engali's picture

Band forgot your band aids

Fri, 07/15/2011 - 19:46 | 1461239 duncecap rack
duncecap rack's picture


Fri, 07/15/2011 - 19:57 | 1461264 Dr. Engali
Dr. Engali's picture

Yeah can't forget the booze. Great for bartering too.

Fri, 07/15/2011 - 19:59 | 1461268 chump666
chump666's picture

rum they used to trade it like a currency...many moons back

Fri, 07/15/2011 - 20:19 | 1461298 HungrySeagull
HungrySeagull's picture

Smokes and a small trade such as making ammunition.

Fri, 07/15/2011 - 20:36 | 1461350 baby_BLYTHE
baby_BLYTHE's picture

drinking Orange Bacardi Rum + Orange Soda now. Reading The Creature from Jekyll Island by G Edward Griffin. It is my second read through.

Fri, 07/15/2011 - 20:54 | 1461388 augie
augie's picture

You ever read anything other than economic/political theory? 

Fri, 07/15/2011 - 21:17 | 1461410 baby_BLYTHE
baby_BLYTHE's picture

I have read as much literature by the Founding Fathers as I have been able to find. Before I signed up for my Macro Economics class last semester I had already read & LRC for about a year and started reading ZH late 2009 after my older brother awoke me to everything that is going on and how my generation is completely doomed.

I believe in sound money 100%. To me that means one should be able to make a 'safe' investment that guarenttees about a 5% return a year (Yes Gold could easily do this).

Regardless, what the chaircreature and others in mainstream academia don't understand is capital comes from savings not from 'printing' and budget deficits.

All the QE, Mark-To-Myth and regulatory capture cannot cure the rampant malinvestment this economy has undergone the past few decades post-WWII|

we have yet to experience the real pain, IMHO. The next crisis will be much worse than we had in 2008.

Fri, 07/15/2011 - 21:38 | 1461435 Careless Whisper
Careless Whisper's picture


CAN anyone please help me out? I'm trying to understand whats going on with this chart. This stock seems to be testing its support level around 130 but I'm concerned because what happens if it breaks that support level?  Where is the next level of support?  I really would appreciate some help here. Thanks.


Fri, 07/15/2011 - 21:43 | 1461442 augie
augie's picture

Don't make me break out the Ned land Vids. 

Sat, 07/16/2011 - 10:52 | 1461991 99er
Sun, 07/17/2011 - 13:20 | 1463894 sellstop
sellstop's picture

Yes, it is testing support. Very heavily testing support. It may go up from here or it may go down through that support. But the fact that it is in a downtrend and "testing support" should lead you to the conclusion that it is not a high probability trade to buy at this time.

Maybe if it breaks support, goes down, and then come back strongly it may be a good buy. Or if support holds, it goes back to the recent highs, tests them, and goes higher, then it may be a good buy.

But to buy GS here because it is "testing support" is to just be buying a lottery ticket. You are "hoping" to be right so you can pat yourself on the back for buying at the low of the move. That is a poor way to make money. And stressfull too.


Fri, 07/15/2011 - 21:41 | 1461437 augie
augie's picture

It's inspiring how much you know for how long you've been paying attention and i'm usually the one bitching about our apathetic generation, but god damn lady it's friday night in the summer. Gotta enjoy this nightmare while it lasts no? 

Fri, 07/15/2011 - 22:37 | 1461515 baby_BLYTHE
baby_BLYTHE's picture

haha, my BF and I are headed out now to a few clubs downtown.

I pay as much attention to the financial markets as I can. My generation will determine the fate of this country. Scary thought indeed.

Anyways, great work as always this week Tyler(s). Your service is invaluable.

Fri, 07/15/2011 - 23:10 | 1461573 gall batter
gall batter's picture

nobody puts baby in a corner.  except the truth: your generation's fate was determined long ago. 

Fri, 07/15/2011 - 23:34 | 1461611 IQ 145
IQ 145's picture

 I wish I could un-junk your post. It's very clear and shows an excellent grasp of the situation.

Fri, 07/15/2011 - 23:57 | 1461643 dogbreath
dogbreath's picture

what do you mean your generation is doomed.  Your life is just beginning as a result of your eyes recently opening.  eyes wide shut would describe x'ers and boomers as well.

Sat, 07/16/2011 - 00:59 | 1461701 Peak Everything
Peak Everything's picture

Suggest you keep reading because you appear to have more to learn.

I too started with studying sound money. It's important but there are other more important things. Like infinite growth being impossible on a finite planet.

Think about the implications of your desire for a safe 5% return per year. Get a spreadsheet and see how few years it takes to double the economy at 5% compounded per year. Then look at the reserves of almost any natural resource and ask how long before 5% growth puts us at serious risk of collapse.


Sat, 07/16/2011 - 02:19 | 1461763 StychoKiller
StychoKiller's picture

So, the only logical conclusion:  The surface of a planet is NOT the correct place for an expanding technological civilization.

Sat, 07/16/2011 - 02:34 | 1461774 Peak Everything
Peak Everything's picture

Sure it is. Provided we limit ourselves to 2 or less children after we've reduced about 5 billion.

Sat, 07/16/2011 - 10:17 | 1461963 GiantWang
GiantWang's picture

Albert Einstein said nothing boggled his mind more than the power of compound interest.  There is no such thing as a sustainable system that grows at a geometric rate.  Nature just doesn't function that way.  Why should we?  Why should wealth grow at a geometric rate? And what the hell are you going to do with all that wealth?  I can tell you . . . eventually you are going to leave it behind and die.  What does all that mean?  Nothing.  What will you think it means to be wealthy? Whatever you assign the "meaning" as, e.g. power, that you're better, smarter, more deserving, somehow intrinsically worthy?  Or just that you enjoy a better quality of life?  Life can be quality without growing wealth at 5% per year.  Focus on achieving such a quality life, and wealth is gravy--doesn't really matter.

Fri, 07/15/2011 - 20:59 | 1461394 Jendrzejczyk
Jendrzejczyk's picture

Orange Bacardi Rum + Orange Soda = Creature from Puke Island

Enjoy the night. Tomorrow morning will probably suck.

Sat, 07/16/2011 - 18:55 | 1462751 Herknoid Weaver
Herknoid Weaver's picture

Your on your second read through and you havent figured out the guy is a fraud and a hack? With respect you have wasted your time on G. Edward Griffin. I went down that road reading the Jeckyll Island book and I still own a copy. I definately agree that some of the information is thought provoking like his explanation of the "Mandrake Mechanism".  These guys always give you some thought provoking facts but lead you down the wrong path with lies. I keep it as memorabilia and a reminder that free speech still exists to some degree when trash like that is still published. I want to expose him and all the other clowns like him for who they really are.  This guy has been at it since Lassie was a pup. His version of history is just as skewed as that which we learned in school. Please tell me you havent watched his video he sponsered on Chemtrails or read his old books about how Cancer can be cured by eating seeds containing cyanide.  I would like to whip his damn ass.  Here are some links you can look at and make your own decision on the son of a bitch.


Fri, 07/15/2011 - 22:55 | 1461547 Killer the Buzzard
Killer the Buzzard's picture

The Bernank says rum is an asset, not a currency.

Fri, 07/15/2011 - 20:14 | 1461288 Spastica Rex
Spastica Rex's picture


Fri, 07/15/2011 - 20:43 | 1461362 tarsubil
tarsubil's picture


Sat, 07/16/2011 - 02:20 | 1461767 StychoKiller
StychoKiller's picture

Always an asset in my book, provided you're holding onto Physical | |\(o)(o)/| |   :>D

Fri, 07/15/2011 - 19:11 | 1461168 Long-John-Silver
Long-John-Silver's picture

Make sure you take physical possession of it.

Fri, 07/15/2011 - 19:57 | 1461261 mendolover
mendolover's picture

You mean the booze right?

Fri, 07/15/2011 - 20:02 | 1461270 A Nanny Moose
A Nanny Moose's picture

After I am done with it, they can have all of my booze they want. My aim ain't so great tho. Might get a little on them.

Fri, 07/15/2011 - 20:06 | 1461272 A Nanny Moose
A Nanny Moose's picture


Fri, 07/15/2011 - 21:11 | 1461409 caerus
caerus's picture

Division bell bitchez...

Fri, 07/15/2011 - 19:00 | 1461136 SwingForce
SwingForce's picture

Anybody besides Reggie make money on Google calls today? Fuck the EURo. Oh yeah, Apple new record high. Dollar drops from here? While the Central Banksterz are intent on destroying free markets, Steve, Sergey & Larry don't want to play your stupid game.

Fri, 07/15/2011 - 18:55 | 1461144 JimBobOMG
JimBobOMG's picture

Triple top?

Fri, 07/15/2011 - 19:05 | 1461159 rsnoble
rsnoble's picture

On other fronts im going to pick up a 20 pack, drink copius cold ones for the rest of the evening while riding my 4 wheeler thru the country hills, occasionally stop to shoot at some random target, and grill a couple large porterhouses sometime later this evening. 

Fri, 07/15/2011 - 19:07 | 1461162 rsnoble
rsnoble's picture

btw I recently bought a couple of Henry 22 rifles.  They are nice and very accurate right out of the box.  Oh......and 10,000 rounds.

Fri, 07/15/2011 - 19:09 | 1461167 Dr. Engali
Dr. Engali's picture

You're gonna need a bigger gun. And more of them.

Fri, 07/15/2011 - 19:14 | 1461174 Long-John-Silver
Long-John-Silver's picture

.22's kill more people than any other caliber of gun.

Fri, 07/15/2011 - 19:19 | 1461181 brandy night rocks
brandy night rocks's picture

Maybe the Dr is assuming he'll be attacked by giants?

Fri, 07/15/2011 - 19:30 | 1461186 Dr. Engali
Dr. Engali's picture

I'll pit my 270 Ruger rifle or my 7.62 Bushmaster up against your 22 any day.

Fri, 07/15/2011 - 19:32 | 1461208 Long-John-Silver
Long-John-Silver's picture

You might think twice about that. I have a Calico 10/22 pre-ban, pre-warning, with 2 100 round mags. I also have the optional motor drive that I keep separate so I don't go to jail.

Fri, 07/15/2011 - 19:37 | 1461220 Dr. Engali
Dr. Engali's picture

That's a nice set up but it won't do you any good if I'm picking you off from 300 yards while you're spraying bullets. I'm not saying that 22s shouldn't be part of your arsenal, but when shit hits the fan I want more fire power.

Fri, 07/15/2011 - 19:42 | 1461225 Long-John-Silver
Long-John-Silver's picture

1,200 rounds a minute with the drive installed and it's accurate. You take one .22 anywhere and you bleed to death really slow and painfully. Google it.

I do have larger calibre weapons including 7.62 X 54r and 7.62 X 25T

Fri, 07/15/2011 - 19:52 | 1461254 High Plains Drifter
High Plains Drifter's picture

won't it get very hot and then jam?

Fri, 07/15/2011 - 19:58 | 1461267 Long-John-Silver
Long-John-Silver's picture

If it was a larger calibre it would but .22's will just get it warm enough to feel even if you dump all 200 rounds in a single go. Then by the time you put 200 rounds in 2 mags it's had time to cool off. It has barrel cooling tubes installed as well.

Fri, 07/15/2011 - 20:20 | 1461305 New_Meat
New_Meat's picture

humpin' them rounds b a bitch. - Ned

Fri, 07/15/2011 - 21:16 | 1461413 High Plains Drifter
High Plains Drifter's picture

reloading is a bitch too. mac10 is better........more useful......

Fri, 07/15/2011 - 20:21 | 1461309 HungrySeagull
HungrySeagull's picture

Get a ruler and measure it fellas. Sheesh.


I fire penetrator slugs myself. Can hit a man sized target at 130 yards and a deer or larger up to 200

Fri, 07/15/2011 - 20:32 | 1461313 New_Meat
New_Meat's picture

dp-stupid server

Fri, 07/15/2011 - 20:33 | 1461317 New_Meat
New_Meat's picture

tp-stupid server

although I can't figure out how humpin' them rounds b not a bitch. - Ned

Fri, 07/15/2011 - 22:03 | 1461472 snowball777
snowball777's picture

Make Tonto carry em.

Fri, 07/15/2011 - 22:17 | 1461494 Manthong
Manthong's picture

Big guns are nice- I've got some. A handful, and a lot of wallop just like the Missus.

But the Winchester 9422 that I've kept in perfect condition for 35 years is kind of like freezing a 20 something Tuesday Weld in time.

Fri, 07/15/2011 - 21:31 | 1461430 Trying to Understand
Trying to Understand's picture

and CCI makes a sweet segementing hollow point...

Fri, 07/15/2011 - 19:21 | 1461184 RobotTrader
RobotTrader's picture

Hard to believe some of these guys make high 6 figures producing these fancy brochures and presentations about "where is the market going next"???

Probably a platoon of 20 people rushed to get this thing ready in time.

Fri, 07/15/2011 - 19:58 | 1461266 landho69
landho69's picture

Yes, but still more useful than some of the "after the fact" analysis some of the posters (ahem RobotTrader) put up which is about as useful as a ripped condom on prom night......

Fri, 07/15/2011 - 22:00 | 1461466 ViewfromUnderth...
ViewfromUndertheBridge's picture

here you go...looks more like an inverse h&s and we'll see 1370 before 1260.

if any of these maroons knew they'd be trading not talking.

Fri, 07/15/2011 - 22:12 | 1461482 Boston
Boston's picture

Noyce's analysis back in late Feb. matched mine for US Treasuries.  

That's when I went long, when every other loser like Bill Gross went short.

Thanks John. Keep up the good work!


Fri, 07/15/2011 - 19:25 | 1461194 caerus
caerus's picture

margin...pyramid...short the shit out of this false market at ES 1260...wait for it...

Fri, 07/15/2011 - 19:29 | 1461205 chump666
chump666's picture

dear me, goldman always discounts the biggest risk engineu...china.  good to watch is the a AUD, on aust CB possible rate cut.  meaning? the commod boom just finished.  THe EZ is toast, eveyone knows that, they can't print anymore due to inflation.

Fri, 07/15/2011 - 19:33 | 1461211 chump666
chump666's picture

and the s&p...bull trap via dumb smart money combo

Fri, 07/15/2011 - 19:35 | 1461215 caerus
caerus's picture

Take this goddam ship down NOW price discovery bitchez

Fri, 07/15/2011 - 19:37 | 1461222 Long-John-Silver
Long-John-Silver's picture

Not before the deck chairs they keep rearranging wash overboard.

Fri, 07/15/2011 - 19:41 | 1461228 caerus
caerus's picture

K but they can't fight economics I want to short the crap out of this so bad it hurts. I'm tired if waiting I want a vacation on their dime!

Fri, 07/15/2011 - 19:40 | 1461224 razorthin
razorthin's picture

yeah right.  it wreaks of presentation given by Prechter's group a year ago.

Fri, 07/15/2011 - 19:46 | 1461241 High Plains Drifter
High Plains Drifter's picture

charts?  why?

Fri, 07/15/2011 - 20:18 | 1461297 putbuyer
putbuyer's picture

Made 1100% on Google calls today. It was a huge risk. Lucky trade. Now I short Netfucks and SlimedIN

Fri, 07/15/2011 - 20:18 | 1461300 Village Idiot
Village Idiot's picture

I'm seeing some old faces (avatars) out, lately.  Like old times.  Where is that racist fuck trav777 hiding out? 

Fri, 07/15/2011 - 20:49 | 1461380 tarsubil
tarsubil's picture

We all just read his greatest hits when we miss him.

Fri, 07/15/2011 - 20:53 | 1461385 Village Idiot
Village Idiot's picture


Fri, 07/15/2011 - 20:24 | 1461319 caerus
caerus's picture

This goddamn market is craving economic honesty...the bears will feed

Fri, 07/15/2011 - 20:26 | 1461327 Village Idiot
Village Idiot's picture

You know how I know this market is about to bust?  My old money manager is making the rounds...telling the family all is well.  The last time he came around my way was early 2008.  All was well...until it wasn't.  Money gatherer's are are the modern day vomatorium.

Frankly, I'm tired of the diatribe.  We all know what the truth is.  Even the money gatherer selling chicklets and cheap cologne in the mens bathroom.

Fri, 07/15/2011 - 20:27 | 1461334 Village Idiot
Village Idiot's picture

You know how I know this market is about to bust?  My old money manager is making the rounds...telling the family all is well.  The last time he came around my way was early 2008.  All was well...until it wasn't.  Money gatherer's are are the modern day vomatorium.

Frankly, I'm tired of the diatribe.  We all know what the truth is.  Even the money gatherer selling chicklets and cheap cologne in the mens bathroom.

Fri, 07/15/2011 - 20:30 | 1461342 Village Idiot
Village Idiot's picture

sorry for the double post.  Not really.

Fri, 07/15/2011 - 20:34 | 1461347 New_Meat
New_Meat's picture

Hey, yo, not an

Please hang around these parts a bunch more! - Ned

Fri, 07/15/2011 - 20:36 | 1461349 Village Idiot
Village Idiot's picture

Always around, brother. Words have found me today.  Carry on.

Fri, 07/15/2011 - 20:56 | 1461346 Village Idiot
Village Idiot's picture

Moved from another thread..shout out to all you battle worn contributors...


"Shout out to JW and the rest of you old timers.  Pinot Noir and pals...and a nice roast of beast."


Fri, 07/15/2011 - 20:49 | 1461373 Village Idiot
Village Idiot's picture

Which one of you lurkers wants to use the word "Jew" in a sentence? Give it your best...and end with "thank you"

Fri, 07/15/2011 - 21:16 | 1461412 Jendrzejczyk
Jendrzejczyk's picture

How'd jew come up with that question? In anticipation of your response, thank you.

Fri, 07/15/2011 - 21:43 | 1461433 Village Idiot
Village Idiot's picture

First, I have seen your posts around the board.  As far as I can tell, you are a good soul.  In regard to the "Jew" reference: I have been posting around here for about two years now.  At some point into my ZH indoctrination, I took it upon myself to root out the intolerance that tends to infest free thinking sites like ours....I was on a mission from dog.

I like to think that I helped to lead the movement away from those who posted as "intellectuals" when in reality they were ignorants.  The last thing this site needs is that's my story.  Just checking to see where we stand these it baiting. 

I am a Jew.


Fri, 07/15/2011 - 22:59 | 1461557 Atomizer
Atomizer's picture

I'm glad your a jew. My jew friends tell me the gig is up. What is your thought?

Fri, 07/15/2011 - 23:08 | 1461569 Village Idiot
Village Idiot's picture

Well, the Jews should know, right?  They control everything...and do a head count while you're at it.

Fri, 07/15/2011 - 23:09 | 1461574 caerus
caerus's picture

So is Dylan... Fuck these guys, your ok

Fri, 07/15/2011 - 23:17 | 1461587 Village Idiot
Village Idiot's picture

@ atomizer..

You forgot to say "thank you"

Fri, 07/15/2011 - 20:58 | 1461393 FranSix
FranSix's picture

More trading vids from Leavitt Bros.

Fri, 07/15/2011 - 21:09 | 1461405 HungrySeagull
HungrySeagull's picture

Charts? We don't need no stinking charts.

I stand in the street at morning and inhale the air deep. The smell of MONEY!

Or was that the smell of garbage... oh yes the garbage barge or train heading to staten island.



All I need to know about the markets came in threes.

1- Ben speaks, market drops bad.

2- O'daddy speaks... markets sideways for a long time.

3- When Timmy speaks, markets inflate.


The average performance of the threes so far since 2008 is issentailly crap.

Should go back to the dark days of the 80's There was real carnage to sort out the strong from the weak back then.

Fri, 07/15/2011 - 21:20 | 1461418 High Plains Drifter
High Plains Drifter's picture

top 5 places not to live in coming conundrum.

Fri, 07/15/2011 - 21:22 | 1461422 High Plains Drifter
High Plains Drifter's picture

a priest, a preacher and a rabbi walked into a bar:

A priest, a preacher and a Rabbi walked into their favorite bar, where they would get together two or three times a week for drinks and to talk shop.

On this particular afternoon, someone made the comment that preaching to people isn't really all that hard. A real challenge would be to preach to a bear.

One thing led to another and they decided to do an experiment. They would all go out into the woods, find a bear, preach to it, and attempt to convert it.

Seven days later, they're all together to discuss the experience.

Father Flannery, who has his arm in a sling, is on crutches, and has various bandages, goes first.
"Well," he says, "I went into the woods to find me a bear. And when I found him I began to read to him from the Catechism. Well, that bear wanted nothing to do with me and began to slap me around. So I quickly grabbed my holy water, sprinkled him and, Holy Mary Mother of God, he became as gentle a lamb. The bishop is coming out next week to give him first communion and confirmation."

Reverend Billy Bob spoke next. He was in a wheelchair, with an arm and both legs in casts, and an IV drip. In his best fire and brimstone oratory he claimed, " WELL brothers, you KNOW that we don't sprinkle! I went out and I FOUND me a bear. And then I began to read to my bear from God's HOLY WORD! But that bear wanted nothing to do with me. So I took HOLD of him and we began to wrestle. We wrestled down one hill, UP another and DOWN another until we came to a creek. So I quick DUNKED him and BAPTIZED his hairy soul. And just like you said, he became as gentle as a lamb. We spent the rest of the day praising Jesus."

They both looked down at the rabbi, who was lying in a hospital bed. He was in a body cast and traction with IV's and monitors running in and out of him. He was in bad shape.

The rabbi looks up and says, "Looking back on it, circumcision may not have been the best way to start."

Fri, 07/15/2011 - 21:25 | 1461424 caerus
caerus's picture

lol! good show thought I'd heard all the bear/priest/rabbi jokes...

Fri, 07/15/2011 - 22:41 | 1461522 Double down
Double down's picture

Best ever

Fri, 07/15/2011 - 22:52 | 1461538 Village Idiot
Village Idiot's picture

@ high plains


Upon further review...that was some funny shit.

Fri, 07/15/2011 - 22:24 | 1461504 Village Idiot
Village Idiot's picture
by High Plains Drifter
on Fri, 07/15/2011 - 21:22

You didn't end with "thank you."

Fri, 07/15/2011 - 22:36 | 1461516 caerus
caerus's picture

...thank you..(bows)

Fri, 07/15/2011 - 22:44 | 1461526 Village Idiot
Village Idiot's picture

and to you...

Fri, 07/15/2011 - 22:00 | 1461470 Atomizer
Atomizer's picture

The lies have been revealed. The progressive PR campaign will end up as anal drainage.

JP6 is watching closely and they sense uncertainty within the lack of promises.

U2- Two Hearts Beat As One

For me, this entire week has been filled with two political groups uniting as one. My hardcore opponents have been ringing the phone & telling me we have a problem. Rather than fighting, we are working together now. fuck me! this is so great.

But the band plays on.. When your support base starts to erode, progressives pull the race card.

Fri, 07/15/2011 - 22:18 | 1461495 Spaceman Spiff
Spaceman Spiff's picture

Many technical breakdowns?    Would you say we had a plethora of technical breakdowns?

Fri, 07/15/2011 - 22:39 | 1461520 caerus
caerus's picture

three amigos? Really!? Impressive.... It's a sweater!!!!

Fri, 07/15/2011 - 23:12 | 1461581 BeansBulletsBandaids
BeansBulletsBandaids's picture

+1 plethora


That's the first thing that popped in my head when I read the headline.



Sat, 07/16/2011 - 01:12 | 1461713 Goatboy
Goatboy's picture


These people are worse than astrologers.

GS seriously uses slow stochastic indicator to make decisions?? Has anyone informed them that indicators also "work" and "predict" nicely on completely random (generated) data? 200 DMA? Why not 120? Trends and ranges also appear in random data.

Its disappointing. Its enraging, knowing how much they get paid for this silly, idiotic guesswork. Its liberating, because I now understand why decent literature on this does not exist > nobody actually knows whats happening.

Who mentioned weapons?


Sat, 07/16/2011 - 07:46 | 1461871 Bob Sacamano
Bob Sacamano's picture

And I thought the official ZH position on GS is that they are the great Satan, beyond evil and should be wiped from the face of the earth.  Yet their research product is frequently viewed positively and negatively, sometimes in the same day.  And there is very little other Wall Street research posted (GS wins hands down over any other WS firm).   Very confusing.

Sat, 07/16/2011 - 03:34 | 1461795 hungarianboy
hungarianboy's picture

Thnx Tyler :-)

Sat, 07/16/2011 - 13:14 | 1462126 glenlloyd
glenlloyd's picture


Sun, 07/17/2011 - 12:46 | 1463782 JackES
JackES's picture

People called h&s on S&P will be proved to be wrong totally.

Most h&s patteren fail, yet people always try to find out the next successful one.


s&p to all time high. This so called h&s is contionus pattern.

Sun, 07/17/2011 - 16:01 | 1464318 Highrev
Highrev's picture


The Euro looks heavy, but the Italian and Spanish 10 years are likely to consolidate?

What with the confirmed breakout of clearly recognizable chart patterns, those rates might spike even higher first before consolidating. Keep an eye on the 2 year for ST clues. Maybe spreads might start narrowing though, in which case consolidation might not only be in the cards for those 10 year rates, but for the Euro as well.

It looks like the Euro/Broad is sporting a nice Gartley AB=CD pattern too. Broad/USD looks like it’s setting up pennant for a breakout higher.

And with the Smaller G10 currencies out performance reminding me of the RUT, I’d say it’s looking like the IT cyclical “risk-on” trend in still intact, and that the countertrend corrective process of the last few months will soon end as the longer term trend takes over again.

That ’95 comparison has got to make the bears think twice.

I’m thinking up very short term (into a nice shorting opportunity), then down into an important short term low (into a nice BTFD), and then an important multi-week rally.

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