Shaking Loose the Weak Hands …

November 15, 2012

The dollar’s rally that peaked on day 19 was halted by the 150 MA.

Thursday, day 21 saw the dollar make a marginal break of the accelerated trend line before bouncing off the trend line but still being contained by the 150 MA.

The dollar’s daily cycle is in the timing band to print a daily cycle low.
Chances are since it is so late in this daily cycle that the 150 MA will reject the dollar.

When the dollar makes a convincing break of the accelerated trend line it will likely signal when stocks will form their swing low.

Thursday was day 49 for the daily equity cycle.
Stocks are overdue for printing a daily cycle low.
The Big Boys have been shaking loose the weak hands and once again were placing their bets on Thursday.

Thursday saw stocks print another 137 million Buying on Weakness totaling 1032 million over the past few weeks.

On top of that, stocks printed a narrow range day on Thursday.
A break above 1349 forms a swing low and quiet likely the intermediate cycle low.

Then stocks should turn the corner …

10 responses to “Shaking Loose the Weak Hands …”

jon

November 15, 2012

don’t think u mean 1349

Reply
Jack Dog

November 15, 2012

Likesmoney,
Someone needs to put a sexy looking cow outside of the bull pen. Maybe that will give the old bull some incentive to break out!
Jack Dog

Reply
1. ALEX
  
  November 15, 2012
  
  LOL…I second that : ]
  
  Alex
  
  Reply
2. likesmoneystudies
  
  November 16, 2012
  
  OK Jack Dog,
  
  Let’s see if this works …
  
  Reply
Chris

November 15, 2012

Thanks LM. BTW do show 1360.62 as SPX hi today :).

Reply
1. likesmoneystudies
  
  November 16, 2012
  
  A swing low forming at 1349 is clearly wishful thinking 🙂
  
  Thanks, fixed now.
  
  Reply
sdfsdf

November 15, 2012

Miners are doing something that they shouldn’t be doing. Anytime something does something you’re not expecting, please beware. It means you completely missed something. Caution warranted.

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AIG approaching cycle lows | Wall Street Stocks

November 16, 2012

[…] wednesday updateShaking Loose the Weak Hands … […]

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Trond

November 16, 2012

LM, increasing taxes while at the same time cutting spending. = Austerity like in Greece, Spain. Isn’t this extremely bearish and migh usher in a deflationary and deleveraging period where also the PM’s gets liquidated?

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Trond

November 16, 2012

Since it’s now so long until the next elections possibly the different politicians aren’t afraid of risking a near term recession in order to improve the budgetary and fiscal situation. And maybe Obama even calculates with a recession bottoming in the middle of his term and thereafter a strong rebound towards the end so that he can leave with flying colors.. (+ be remembered for starting to improve the debt situation).

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