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Major Push To Again Close Above 1,150 Leads To Total Break With EURJPY Correlation
The traditional correlation between the S&P and its key leading indicator the EUR-JPY pair just went out of the window, as the market just hit the nitrous with the 3:30pm buying programs. As always, must. close. above. 1,150... or else it is a quadruple top, whatever the hell that is.
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It's like never letting her sleep over. You don't want to see what it was you just spent the night with. Everything looks a little too pretty.
job well done...
They're messing with us, right? April Fools is coming soon...
Cool. So technicians - so what will this candle signify? Off to the races tomorrow?
Isn't it called a hanging man?
The previous daily candle is higher, so technically, it is not a hanging man. It's a new candlestick formation called "phucknut's hammer."
Actually more likely a "Bearish Meeting Line". Today's action may or may not have confirmed previous 2 days:
http://www.hotcandlestick.com/directory/Bearish%20Meeting%20Lines.htm
Could someone explain today's end of day move to me...?
Is this why, when it goes, it's going to go big time...downwards?
DavidC
Hi DavidC. I will do the best I can. Lets say you have a very rich Uncle, with very deep pockets, Who buys 20 million shares of the SPY yesterday and sells them today at a higher price only because he was buying another 20 mil today at a higher price and
Therefore has made money off of yesterdays shares. He can keep doing this for
several weeks or months but one day he know it got to end and he doesn’t
want to be left holding the bag. He then buys put options and dumps
his 20 mil shares while also shorting another 20 mil the next 2 days. He breaks even
on his put options and covers his shorts with a another profit all while manipulating
the market big time. I might not be right on with this theory but I think I’m close.
The moral of this story is to follow your Uncle and not be left holding the bag.
For the Market closing on the upside is because it had to in order for you uncle to
make a profit and your uncle has the deepest pockets of them all.
Hope that helps.
Dublicate
Trying to correlate news to these run-ups is like punching ghosts.
Can't have just gold and silver finishing in the green. The casual investor might notice.
It's about the recycling of reasons to rally, pending the FOMC statement tomorrow. How many times can you rally the equity market on "...for an extended period of time"? My guess is an infinite amount of times.
Apparently true.
Anyone notice this item buried in MSM reports:
"Net foreign purchases of long-term securities, a category that includes both government and corporate debt, totaled $19.1 billion in January, as net purchases of private corporate bonds fell by $24.8 billion, the biggest drop on record."
Something weird going on with gold...
The manipulation in the markets reminds me of the Fed/Gold manipulation article. All manipulation seems to be ok……….notice how the SEC is on perpetual holiday.
notice how the SEC is on perpetual holiday
actually, they are not.
this is the first para from Executive Order 12631, the President's Working Group on Financial Markets (also nicknamed the Plunge Protection Team, PPT)
Executive Order 12631--Working Group on Financial Markets
Source: The provisions of Executive Order 12631 of Mar. 18, 1988, appear at 53 FR 9421, 3 CFR, 1988 Comp., p. 559, unless otherwise noted.
By virtue of the authority vested in me as President by the Constitution and laws of the United States of America, and in order to establish a Working Group on Financial Markets, it is hereby ordered as follows:
++
DH / Back in 1996, I was in a wedding with the then current NY Fed EVP and manager of their market operations desk, Peter Fisher. At the rehearsel dinner the night before, I point blank asked Peter if the PPT existed, and if they regularily participted in the markets? Peter's answer was direct: YES. Obama's paragraph above only publically confirms what we already knew. After all, we now operate in an environment of Facism. Two interesting things we are watching (over the next 3-12 months). One, riots or protests originating in California. And two, this Israel/Iran situation. Be well our friend. Stay positive too.
Thats just a few guys from the sec, if any at all. The rest of them are surfing porn.
A Quadruple Top?
It's the market "tits up" twice over. Bearish...no doubt. After all, we had a lower high on the SPX and /ES is still carving out a (shhh!) H&S.
/ES futures actually closed red! Wow, that's pretty amazing that someone fell asleep and let the futures close red after an historical run.
That's just to maintain the illusion of a market.
and so goes gold.....
at least someone, or something, is doing their job right ...
I have been watching the moves in the EUR with great interest today. It has been fascinating to watch.
The EUR/USD pair is now in direct correlation with the SPX, while the EUR/JPY pair have been reluctantly pulled upward, despite the clear impetus to the downside as illustrated by the small, low vol move up in EURJPY since the 1100 candle even while the SPX has ramped parabolic toward the end of the day.
Interestingly, the EURGBP pair has been the most reluctant to rise with the move in the SPX and has at times moved opposite the direction of the EURUSD. All of this means to me that when this market is allowed to drop, the beneficiary is going to be the Cable. That is a very surprising thing. Any ideas as to why?
Politics, what else?
http://www.ft.com/cms/s/0/b833a09a-3045-11df-8734-00144feabdc0.html?ncli...
Hi Orly.
I have many Ideas but I think I dont actually understand the question as far as the beneficiary goes.
The SPX has been following the EUR/USD for weeks now or vice- versa, its very difficult at times to see which one goes up first. It seems like they are trying to break that correlation though.
Will know more tomorrow.
By beneficiary, I mean that the strength in the Pound has dwindled to the point that many investors have openly wooried about a big problem with the currency going forward. Jim Rogers has said that the GBP may be in danger of imminent collapse within weeks.
As the market is allowed to let off steam (that is, if it ever is allowed to do so...), the GBP will strengthen agains the EUR to a greater degree than the dollar or the yen.
It had been the EURUSD that was more steadfast and reluctant to budge from its recent show of strength relative to the SPX. It had always been the EURJPY pair that mirrored the SPX nearly tick-for-tick. This has changed in the past two days wherby the yen has been less susceptible to equity market moves and the EURUSD pair has begun to mirror it. This is a change and a very curious one to me.
:D
I get it now...SPX and Dow are doing Repo 105's.
Similar but not the same.
The end of the day's buying binge was caused by OIH and XLE shorts that ran for the hills when oil didn't break below the 50-day.
And notice how the XRT reached yet another new high (thanks to WMT).
And IBM hardly sold off....
Got any photos of a "quadruple top"?
The beleagured consumer might be unemployed and about to get foreclosed out of her house.
But she's still buying medicines, vitamins, etc. for her pets online...
Gotta keep 'em fat and healthy for TEOTWAWKI. If the sheets heet da fanns, look for a bump in Amazon searches for "cooking dogs cats pidgeon".
Taste like chicken if cook right. Make pecker more hard.
guys it is very clear the morning star burst pattern that formed with the head&shoulders shampoo on the spx was invalidated by gremlin formation in the russell. What we have to watch however is that we dont get a double-cesear-do intersecting with the traditional ides of march cross over on the slow stochastic. as long as the 67.2 minute chart continues the coiled-cobra on the oil-holders, it becomes very clear that something will happen tomorrow, maybe. and u can quote me on that. I ll tell u what, if something or nothing doesnt happen tomorrow, I ll STFU. IF something does or doesnt happen, then you can all suck a gold d*ck bitches.
ides of march crossover...excellent.
In that informative analysis you did not include a Pizza Pie chart analysis???
How can you take yourself seriously??
thanks! I was just about to launch a serious study of those stick figure dowser patterns...
ok, pretty damn funny...
Saw Alice In Wonderland this weekend - wasn't nearly as strange as the stock market.
What I want to know is how did Lewis Carroll know that drinks (HFCS) were going to be laced with mercury? A lucky guess? Either way, lucky or calculated, the fact that the Mad Hatter's Tea Party became reality is absolutely crazy. MARCH, HARE!
Study Finds High-Fructose Corn Syrup Contains Mercury:http://www.washingtonpost.com/wp-dyn/content/article/2009/01/26/AR200901...
"The good news is that mercury-free HFCS ingredients exist."
yeah good old real SUGAR
Reminds me of the Movie Ice Age. Where the Squirl chases and tries to keep the Acorn no matter what happens.
Ironic similarity by the Squirl trying to keep and store that very last Acorn (after a huge abundance of Acorns) pushed it into the Ice Cap is what created the cracking of the Ice and the start of the Ice Age.
From a technical standpoint, maybe the S&P is making an ascending triangle, where the tops are the same, but the bottoms are getting higher.
If this happens it should break through soon.
I'm not saying that that IS what is happening, but to me it seems like a possibility.
The descending Bawnee Fwank pattern is converging with the unbuttoning of the BS Bernanke zipper. I think you will shit your shorts this week MB.
Because of gold? Nah...
I was either thinking a double top on the S&P, or an ascending triangle. Maybe it's an ascending triangle.
Gold, et al.
Gold is weakening. it's consolidating in it's range, which is usually a continuation pattern. Unfortunately, it was going down before the consolidation. That's the bearish scenario.
Or, you could be seeing a massive pennant forming on the long term chart, which is the bullish scenario.
I think that we gotta get under 1000 before much run up though.
Damn-it - Morpheus
I dropped/lost my Red pill, I know it's here - I just saw it....
Ohh.... Well!?!
Guess I'll have the Blue one... it looks nice too!
A higher bottom sounds good to me as long as the tops aren't flat.
Boy, they just hammered the SPY up this afternoon, wasn't that a daisy. I swear
I saw a 29k print go off at .51 on the offer.
.
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