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Greek Mythology Wednesday Wrap Up
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Greek Mythology Wednesday Wrap Up

by The MoleJune 29, 2011

Looks like another Herculean task by the Greek parliament, done behind closed doors despite widespread opposition, lifted equities across the board today. However, instead of stealing the Mares of Diomedes or the apples of the Hesperides it was the Greek tax payer’s turn today who got robbed blind in bright daylight yet again. But we’re used that by now – another day in the Greek saga and another plundering of public coffers across the Western hemisphere. All that to maintain an illusion of financial EU stability, which in reality has become a clusterfuck of epic proportions that even Zeus himself could not make whole again.

Careful now Hercules, there may be a price to pay for all your indiscretions. The Gods are not pleased and neither is the Greek population – just a matter of time until this situation turns very very ugly. You can’t offload a mountain private debt onto a starving public and expect to live to tell the story.

Here’s the wrap up for today which I strongly suggest you watch and learn from as it was a textbook example of a bullish trend day, with two nice divergences (bullish and bearish) thrown in for good measure.

Alright, I’m feeling a lot better – one of the 20 drugs I’m popping must apparently be working. Better living through chemistry.

Cheers,

Mole


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • 99er
  • http://practicalt.blogspot.com/ Gold_Gerb
  • http://thebhbgroup.com TheBHBgroup

    where do u get the 1218 from….a wolfe wave or something because I don’t see that based on that chart…..funny thing is the zero had a bullish divergence the whole time we were dropping last week on the hourly…way to go zeroooo

  • Anonymous

    bullishly sideways

  • 99er

    Yes, from the Wolfe Wave depicted in blue and purple. 1218 is an approximation because the target, based on expected angles (1-2 being parallel to 5-6), is visible only on the weekly chart.

    Update: http://99ercharts.blogspot.com/2011/06/es_3381.html

  • Anonymous
  • Anonymous

    Interesting signal on the daily zero. 

  • http://evilspeculator.com molecool

    Psssst, you may wake somebody up…

  • Anonymous

    😉

  • Anonymous

    nice pattern on the 15 min EURUSD about now

  • Anonymous

    Indeed it is. Still long from 1265.

  • Anonymous

    Hmmm, …..bear flag?

  • Anonymous

    Beautiful Captain!

  • 99er

    ES
    And with that last push up, the bearish Gartley Pattern (in gold) has been triggered.
    http://99ercharts.blogspot.com/2011/06/es_30.html
    Good luck.

  • Schwerepunkt

    Bearish Gartley?  Looks like a chicken gizzard to me . . . only this one grinds up traders, not chicken feed. We do seem extended right here though.

    BTW, have you put on a short based on this?

  • Anonymous

    Intersting, and love your thoughts.

    The guy from http://www.forecastfortomorrow.com/Trading-Club   stated says we expected there to be a fizzle up on the market and we did indeed get that. His stuff is killer.

    The market is looking a little more healthy for now, but realistically we need to stay above the 1295 – 1300 level on the charts for the bulls to further stake their claim.

  • Anonymous

    good for how many points? would work well into a possible
    RTV Buy setting up on the Daily today with a lower close,
    above the mid BB’s 

  • Anonymous

    Very interesting z and zl this morning

  • Anonymous

    FN Wild, cut my Spy calls and short taken.

  • nyse

    Yo yo! ES at 100d ma and 50% retractment from 5/2/11 high.
    http://screencast.com/t/5vhOI7tyhky

  • http://thebhbgroup.com TheBHBgroup

    you must have meant 1318 …..it’s a ripping here.

  • Anonymous

    I’m out. 1265 to 1314.25. A nice run.

    Time to focus on the 21 fireworks shows I have this weekend. Might get a chance to stop in, but I’m as busy as Santa on xmas eve.

  • Anonymous

    Great patience – congrats!

  • Anonymous

    I should add… Many thanks to Mole and Volar. Excellent posts and analysis, and the Zero is fucking awesome. I just paid for many years worth of subscriptions.

  • nyse

    What does this mean?

  • Anonymous

    That’s a good run, have a good holiday Captain.

  • Anonymous

    Back to max pain maybe, Spy 130.

  • nyse

    How is one to read that flatline?

  • volar

    NEW POST