Currency Newswire » E-minis

E-minis

admin — Thu, 04 Mar 2010 20:09:33 +0000

Makes a very nice 5 wave move down. It even shows alternation between waves ii (sideways) and wave iv (sharp). And wave iii has no internal awkward overlap and a nice down candle smack where it should in the middle that would form the “blue box” area. There really is not other sensible way to label this move. Now lets see if it can tranlate to the cash index.

Slowly like a glacier, the underlying financial apparatus that allowed the markets to achieve astounding highs will be dismembered bit by bit. They are still in the talking stages but it is recognized that something must be done.
http://www.marketwatch.com/story/volcker-rule-targets-all-financial-institutions-2010-03-03

Eventually that something and everything they do will ensure deflation in the markets. It just makes common sense. You have a “wild west” going on right now with practically unregulated prop trading, CDS markets (bets) and massive dark pools, fraud, insider trading and agencies, the White House and a Congress enabling it all. So with all that, any change will be to the “less wild west” side of things.

The next Congress will not aid and abet so much that you can be assured.

No where at any time on earth has governments been able to engineer and control mass social mood. They like to think they can but they cannot. That is the hubris that brings down powerful nations time and time and time again.

E-minis

admin — Thu, 04 Mar 2010 20:09:20 +0000

Levitating act overnight above support. Yet there was a new low overnight as compared to yesterday’s afternoon low. Stochs and MACD are starting to reveal some tiredness. Volume candles are not all that bullish and just trying to maintain support.

Bears need good news like yet another Greek “austerity plan”. LOL. Is it any wonder the people of the world are in such a foul mood? The pack of BS fed on a minute-to-minute basis by the worldwide media over the last many years is too much to bear anymore.

A revolution in communication is a 2 way street. Although the powers-to-be would like nothing better than to suppress those that disagree the genie is out of the bottle. People are not dumb. 2 + 2 will still always equal 4, not 8. Yet our governments and media pretend it can equal 8 and you’ll all be ok, “trust us”. And they keep promising more of what they do not have, nor have any right to.

Slowly, mass Ponzi scheme recognition is occurring and no serious attempts to rectify them. Instead they dare to make it bigger. The bear market has a long way to go…

Bonus chart. The $ is holding tough in an ascending triangle pattern.

E-minis [Update 3:41 PM]

admin — Thu, 04 Mar 2010 20:09:08 +0000

[Update 3:41PM: Possible RUT squiggle count for [v] of C.]

Holding upper support for now. As a side note, I had been thinking about all the public attention to the EURO and how shorts have piled on and even hedge funds were “advertising” their positions in the Wall Street Journal which of course didn’t make sense. Not that the Euro hasn’t shown weakness.

But I think its just a convenient diversion. It could be the real target of the hedge funds is the British Pound as everyone focuses on the Euro.

E-minis [Update 2:30PM]

admin — Fri, 26 Feb 2010 04:26:40 +0000

[Update 2:30 PM: EDIT: Actually, as pointed out in comments, the Wilshire doesn't technically overlap but the other indexes do.] This would be the most logical spot for a leading expanding diagonal triangle. They can start at the top of a major decline when you can spot them. If this is a wave [iii] or 3, it would qualify for that. They can also have a deep retrace (closing the gap say tomorrow – or not – and then big crap to the downside. We’ll see.]

[Update 12:30PM: Updated dollar chart. Something should happen hopefully and it breaks upwards. I have an ED count here. It could of course be some kind of running correction and the ED is wrong.]