Aptitude Test For Perma-Bears
Aptitude Test For Perma-Bears
My mad genetically enhanced ex-Stasi scientists have been busy refining a special aptitude test for all those perma-bears over on ZeroEdge and various other stomping grounds we prefer not to mention by name:
The instructions I have been handed are as follows: Strap victim candidate into chair, apply eye clamps to prevent victim candidate from blinking, insert a few drops of saline for lubrication (optional). Play video. If victim candidate manages to reach the five minute mark without screaming incessantly then he/she should be permitted to advance to the Al Koala perma bear training camp.
Alright, let’s get serious as we are near an inflection point for our poor battered bear friends. I’m sure you all remember our Monday night trigger for the inside-inside day setup we profited so handsomely on. I find it interesting that we pushed all the way back and then dropped down a little. I don’t think there is an official rule for this but off the cuff I would suggest that a breach above would constitute a technical reversal.
Spoos – very interesting setup here as we are back at the 25-day SMA – a push and close above would establish new support and pretty much seal the deal for a continuation higher. Note our new NLBL at 1369.5 – obviously we’re still a few handles away.
More goodies below for my intrepid subs – please step into my freshly fumigated lair:
[amprotect=nonmember] More charts and cynical commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.[/amprotect] [amprotect=1,13,9,12,5]
A quick update on our NYSE volume chart. My suspicions were confirmed in that we pained almost no DVOL yesterday and today appears to bestow us with a repeat performance.
AUD/JPY – sliced through not one but two NLSLs and if we stay above then that is a very bullish move and reversal of prior sell signals.
EUR/USD also managed to push above the 25-day SMA and its daily 1.3241 NLBL. That’s obviously bullish and unless we drop back down here quickly (i.e. today or tomorrow) I expect us to visit 1.333 or 1.336.
Wrapping up the currencies with the DXY – and we are back at the 100-day SMA. Not sure what to tell you guys, but since January we really haven’t been going anywhere and it seems ole’ bucky may get trapped in a trading range here. Suffice to say that this would greatly benefit the bulls – assuming they can keep it stuck inside. I am not going to try a long position here but it’s technically permissible if you want to try your luck.
Turns out silver was leading gold and we just repelled from the only resistance I see ahead. I think a breach of 34.2 gets us to 35.5 or perhaps even 36.
As mentioned above – gold seems to be following silver upward. It already hit my stop and is now in a great technical setup for a long trade with a tight stop below the 100-day SMA. If, against expectations, it decides to drop back down then I would flip the trade with a stop slightly above that SMA. With some luck we don’t get decisive resolution here soon.
And bonds are back to whence they came – AGAIN! And equally robotic I will continue to take this long entry until one day – maybe by the time I’m old and gray – this support line will be breached and we’ll finally get stopped out. I still am looking forward to that day although I may have to tell my grandchildren about it. (noobs: we are waiting for this day as we are really excited about a short trade here – whenever that finally occurs).
Wheat is almost back to whence it came as well – we should respond by taking a long entry with a stop below that 100-day SMA. I would not flip that trade around if stopped out as there’s support looming right below.
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Cheers,
