Today's TAPE was more than "freakish" or simply "manipulated" by those "who could".
Italy's auction today was "oversubscribed" & interest rate came in @ 3% vs expected 6%.....
European Banks made deposit of $452 billion Euros with ECB, ECB is now sitting with 2.73 trillion Euros...sign of good liquidity.....
BUT our HFT & know it all trashed the market on euro going below 1.30, not a news as it had dipped way below to 1.20 area in past life...but news is manufactured on Wall Street all the time ....
Indices went through many technical damage on no real news?
S&P 500 below 200 DMA
Nasdaq below 50 DMA
DOW is still above 50 & 200 DMA & is ready to make a "golden cross"...watch out ABOVE
CMF was barely negative in S&P 500, but its green in Dow & Nasdaq
NOW...we all have to panic for Italian auction tomorrow Worth 8.5 billion euros for 3, 7 & 10 yr auction....by the way 10 yr Italian bond was @ 7% today...below its high of 7.5%.....
US jobless claims should be good again, below 400K, that should offset European manipulation ?
@ close market was down 1.14% to 1.34%
Gold is breaking down big time, prediction is rampant for $1200 to $1250 per ounce?
AH Futures UP
AH Asian Markets Mixed, Shanghai UP slightly
AH Gold down another $8.20 @ $1555.90
BLOG does NOT give buy or sell.
Saleem
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