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S&P Futures Break 50DMA

Tyler Durden's picture


With AAPL sat just above its 100DMA, unable to hold gains this morning, the S&P 500 futures have just broken below their 50DMA for the first time since July 25th. The Bernanke-Spike has gone and now the Draghi-Dagger comes into focus... as financial earnings fail to spark another hope-driven rally. From the day before Draghi's spike, the VWAP (volume-weighted average price) for S&P 500 futures is 1444.5 - so on average in aggregate buyers are now losers.

S&P 500 futures are trading at the 50DMA for the first time since 7/25...



Medium-Term - ES has pushed down to a lower trend line...


and Short-term - As Bernanke's knee-jerk has been dismissed - leaving Draghi's dream-spike left...


With AAPL seeing what looks like institutional selling pressure - given the VWAP orders - and not just short-selling neophytes as some might suggest...

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Fri, 10/12/2012 - 13:42 | 2882286 fuu
fuu's picture

Don't forget to buy the dip in Silver!

Fri, 10/12/2012 - 13:51 | 2882310 HelluvaEngineer
HelluvaEngineer's picture

Good idea, but I'm waiting for a bigger dip.

Fri, 10/12/2012 - 13:58 | 2882329 slaughterer
slaughterer's picture

+32, but 33.45 has been recent support.

Fri, 10/12/2012 - 14:05 | 2882356 knukles
knukles's picture

Say it ain't so, Joe.
Er no, not that Joe.

Now where's that hockey stick for today's save?

Fri, 10/12/2012 - 14:47 | 2882492 fuu
fuu's picture

Fuu said: "$32.78-$33.50 and $1691.95-$1727.57 sounds like hopium."

Slaugterer said: "They were $26 and $1550 just a few weeks ago.  "


Nice call on the 3-5%, in Silver at least.

Fri, 10/12/2012 - 16:31 | 2882899 max2205
max2205's picture

Buy the dip, more QE, buy low sell high, be greedy, fuck other peoples money, get out first, buy the roumor sell the news, buy ratings downgrades, buy weakness, sell strenght, 4 year cycle....huh...it's been 4 years...hummmm

Fri, 10/12/2012 - 14:16 | 2882377 B-rock
B-rock's picture

They'll (the Bastards) push it up near VWAP for the close.

Fri, 10/12/2012 - 13:46 | 2882295 JeremyWS
JeremyWS's picture

Trading platform in the top chart?

Fri, 10/12/2012 - 13:50 | 2882305 Dr. Engali
Dr. Engali's picture

We can't be having that. I thought Ben was buying TFD? Where has the PPT been? Yucking it up with joking Joe Biden?

Fri, 10/12/2012 - 13:52 | 2882317 fonzannoon
fonzannoon's picture

i wonder if he is buying and this is the best he can do today

Fri, 10/12/2012 - 13:58 | 2882341 Dr. Engali
Dr. Engali's picture

I don't know..it could be although I would think we would need heavier volume to overwhelm him.

Fri, 10/12/2012 - 13:50 | 2882309 HelluvaEngineer
HelluvaEngineer's picture

Bullish for Brimstone

Fri, 10/12/2012 - 13:51 | 2882311 SmallerGovNow2
SmallerGovNow2's picture

What the hell is going on with gold this week Sir Tyler?

Fri, 10/12/2012 - 13:53 | 2882322 SeattleBruce
SeattleBruce's picture

At some point, it's going to de-couple from all this mess....

Fri, 10/12/2012 - 14:21 | 2882394 walküre
walküre's picture

+++ $17,516

Fri, 10/12/2012 - 13:51 | 2882315 a growing concern
a growing concern's picture

That little double top looks similar to last year right before the downgrade and ensuing roller coaster ride.  One can hope, right?

Fri, 10/12/2012 - 13:53 | 2882321 Bay of Pigs
Bay of Pigs's picture

Im looking forward to another FarceBerg/FacePlant post. Free Falling bitchez...under $10 by Christmas

  • October 14th: 249 million shares, 9% of shares outstanding.
  • November 13th: 1.332 billion shares, 49% of shares outstanding.
  • December 13th: 124 million shares, 5% of shares outstanding.

    Read more: http://www.businessinsider.com/facebook-lockup-release-2012-8#ixzz296mHrpbD

  • Fri, 10/12/2012 - 14:06 | 2882338 SeattleBruce
    SeattleBruce's picture

    Wow, that's a LOT of insiders to try to take care of, and that are worrying about "their" stash of FB dough.  The stock's gotta move down as you say.  How will they spin it the Faceplant in their annual statement - 'no where to go but up?!'  Kind of sounds like the team Obammy spin on the economy!

    Fri, 10/12/2012 - 13:57 | 2882335 slaughterer
    slaughterer's picture

    Primary dealers that are selling their MBS junk to Ben are just usign their profits to buy more MBS junk to sell to him later, in an infinite circle.  They are not buying AAPL et. al.  Ben's wealth effect is not possible in this round of QE. Need to wait for the next one, sorry.  

    Fri, 10/12/2012 - 13:59 | 2882344 fonzannoon
    fonzannoon's picture

    stawks flat metals hammered. another good day in the books.

    Fri, 10/12/2012 - 14:06 | 2882358 dannyboy
    dannyboy's picture

    Primary dealers are going to buy Treasuries with the MBS purchase money offloaded from the fed, not further MBS's. The fed is using the PD's as a way to wash the treasury market and maintain lower rates, aka next round of can kicking.

    Fri, 10/12/2012 - 14:10 | 2882364 firstdivision
    firstdivision's picture

    So who will win, Obama pushing it up, or Romney's friends pushing it all down?

    Fri, 10/12/2012 - 14:13 | 2882366 Cursive
    Cursive's picture

    This can't happen!  This can't happen!  The Fed!  WTF!  It can never go down again!  How is this possible!  Central planning always works!  I was told to BTFD!  This can't happen!  Rumpelsteltskin!

    Fri, 10/12/2012 - 14:34 | 2882435 Go Tribe
    Go Tribe's picture

    Quick Joe, more smiles!

    Fri, 10/12/2012 - 14:15 | 2882372 yochananmichael
    yochananmichael's picture

    But, but consumer confidence is at an all time high!

    Fri, 10/12/2012 - 14:24 | 2882404 LongSoupLine
    LongSoupLine's picture

    yep, funny when you consider mutual fund outflows (see: "consumers") just had a record drop.

    Fri, 10/12/2012 - 14:21 | 2882396 jtz5
    jtz5's picture

    There should be continued selling through the end of the year to lock in at lower capital gains tax that will expire with fiscal cliff.  Can anyone with TA experience chime in on S&P support levels?  One guy I follow says S&P 1260 is in the cards soon.

    Fri, 10/12/2012 - 14:23 | 2882401 walküre
    walküre's picture

    10 IPOs coming to the market soon.

    How's that for 'all time worst timing'? Is there an award for that other than a Darwin award?

    Fri, 10/12/2012 - 14:30 | 2882428 Quinvarius
    Quinvarius's picture

    The thesis remains bullish.

    Fri, 10/12/2012 - 14:33 | 2882431 Silversem
    Silversem's picture

    An ultra fast tradingplatform, my finger on the trigger.... break or bounce, I will make money either way. 

    Fri, 10/12/2012 - 15:48 | 2882689 AvoidingTaxation
    AvoidingTaxation's picture

    Zynga was the short for 2012.

    What is the next?

    Fri, 10/12/2012 - 15:51 | 2882707 Jack Sheet
    Jack Sheet's picture

    I use the 43.657-day and 92.25-day double-exponential reciprocal harmonic moving averages myself, but only when Venus is in conjunction with Uranus, and there has to be a double-schlong candle formation to confirm the trade.

    Fri, 10/12/2012 - 19:28 | 2883409 IMA5U
    IMA5U's picture



    we're doomed


    the bears are out and they will eat you!!!!!

    Fri, 10/12/2012 - 20:31 | 2883572 orangegeek
    orangegeek's picture

    The SP500 daily closed below channel support today.




    Could be the start of the big turn down.  A weekly chart will show bigger picture.

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