05/22 - 05/23 DT

greenback

ZB and ZN are in a murky state ... still consolidating aka bull flags ... let's see whether it can at least break out today's cu pattern to be bullish again ...

greenback

EURO is back testing the low again ... usually it reverses when hitting an extreme ...
JPY also at a key level ... at least some consolidation here ...

greenback

We have to wait for the indices to show either strength or weakness ...
This is consistent with ZB and ZN ...

greenback

http://www.marketwatch.com/story ... t-growth-2012-05-22

By Alessandro Torello

(Adds quote and rewrites)

BRUSSELS (MarketWatch) -- The European Union agreed Tuesday to spend EUR230 million on a pilot program billed as an way to grow the economy that doesn't leave governments deeper in debt.

Representatives of the European Parliament and the bloc's 27 national governments approved the pilot phase of so-called project bonds.

The EU will provide around EUR230 million from its budget to enhance the rating of senior debt issued by the companies taking part in cross-border infrastructure projects.

The European Commission believes the money could be leveraged to enlist as much as EUR4.6 billion.

"This is an important initiative that can contribute to strengthen our economy," said Olli Rehn, EU commissioner for economic and monetary affairs. "Promoting public and private investment is indeed a cornerstone of our growth initiative."

The rationale behind project bonds is to ensure easy capital access for multinational projects that would spur growth while achieving upgrades in areas like energy and transport.

Germany defended project bonds Tuesday as being different from bonds backed by multiple EU governments, a proposal that Germany has rejected until EU governments restore their public finances.

EU leaders are expected to discuss other ways to boost growth at informal talks Wednesday.

greenback

greenback 发表于 2012-5-22 19:31
http://www.marketwatch.com/story/eu-agrees-to-230-million-to-boost-growth-2012-05-22

By Alessandr ...

Let's see how the market responds to it tonight ...

胡同儿串子

greenback 发表于 2012-5-22 15:31
Let's see how the market responds to it tonight ...

so far, not responding well

silicon_beaver

Just looked back tonight's futures. Red.

(I like greenback Laoda's idea: always play bullish patterns. i,.e. play ES when market up; play ZN/ZB when they are up (likely ES down))

licai5688

greenback

Well, the news didn't work ... instead, Asian markets are shocked by the Japanese downgrade.
indices are forming triangles ... so the biases are down ...

greenback

ZB and ZN are both forming cup and handle ... you can say the handles are bull flags, but the up legs are not as strong as in those in standard bull flags.

greenback

EURO indeed reversed at the previous low ... but a consolidation for too long would be bad ...
JPY went as low as 80, the 50% retracement but then advanced hard ... what a wild ride!

Jennyahwu

回复 greenback 的帖子

green, as spx 1292 not touch, should we be safe to long ? xle? thanks

greenback

Jennyahwu 发表于 2012-5-23 11:21
回复 greenback 的帖子

green, as spx 1292 not touch, should we be safe to long ? xle? thanks

Don't touch anything that is not broad indices, i.e. spy, qqq, mdy, iwm, or dia, when buying dip ...
Too dangerous as it may not go up with the broad market ...
And don't buy too much, I suggest 1/10 of your cash each time, when trading in a crazy market as it is now ...
Still too early before seeing the final bottom ...

greenback

I don't see impulsive down moves in indices ...
May drift slowly downward/side way in the next few days ...

greenback

Need to see how the up trendlines get tested to see the next moves in bonds ...

greenback

We have to use weekly chart to see the important level for EURO at the moment ...
JPY had a violent move last night due to the downgrade and BOJ decision ... the down trendline still hold!

greenback

What's the news!?

greenback

Taking questions after a speech, the usually hawkish Minneapolis Fed chief Kocherlakota says a fall off the so-called fiscal cliff would argue for additional QE. The "fiscal cliff" refers to the 2013 expiration of tax cuts and other benefits that some argue could throw the U.S. into recession.

greenback

Freddie Mac's May Economic Outlook contains some interesting data about the refinance boom. One in three borrowers took advantage of low rates to reduce the term of their loan from 30 years to either 20 or 15. Four out of five either paid down their balance or kept it roughly the same. A full 95% chose a fixed rate loan.

greenback

The daily SPY chart argues for a bottom on last Fri IF we close here with the reversal bar ...