Cable Update (GBPUSD)

Forget all yer funnymental analysis, this baby has some way to go before it's played out.



The way I see it, it also answers Grashid's earlier question.

http://jutiagroup.com/2010/08/11/maj...-in-free-fall/

Major Leading Indicator in Free Fall!

August 11th, 2010 • Filed Under • http://jutiagroup.com/wp/wp-content/...ages/print.gif Print
Filed Under: Research & Analysis


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http://images.moneyandmarkets.com/1809/claus-vogt.jpgIn my July 14 Money and Markets column, I explained how the Economic Cycle Research Institute’s (ECRI) Weekly Leading Index confirmed my bearish forecast.
Back then, the index’s growth rate was minus 8.3 percent. And as you can see in the chart below, it is continuing to freefall — tumbling to minus 10.3 percent for the week ending July 30 …
http://images.moneyandmarkets.com/1809/chart.gifSince the year-over-year percentage change sliced through the zero line at the end of May, it has quickly fallen to levels signaling a very high risk of recession. What’s more, it has never fallen as low as its current reading without the economy already in — or on its way to — a recession.
In addition to the ECRI weekly indicator’s very clear message, I see six more reasons that back up my argument for a double-dip recession hitting the U.S.:
First, the economic rebound since March 2009 was bought with unprecedented fiscal and monetary stimulus. There has not been a real, market-generated recovery.
Second, despite the huge sums of taxpayer money and serial bailouts, the rebound is the weakest on record.
Third, at least 80 percent of this huge stimulus program has been used up. There isn’t much left to keep the economic engines running.
Fourth, aside from government debt, the wheels of credit creation are still sputtering. And that’s a problem, since former recoveries have always been driven by credit growth.
Last week’s employment report spells bad news for retailers.
Fifth, the labor market is still in dire straits — and so is consumer spending. Friday’s disappointing payrollhttp://images.intellitxt.com/ast/adT...lass_10x10.gif report is a very strong hint that the labor market is again deteriorating.
Following the ECRI data, this is not surprising. Historically, there has been a strong correlation between the ECRI weekly index and payroll numbers. Furthermore, I expect much weaker employment reports in the weeks and months to come.
Sixth, the housing mess has not been cleaned up yet. I expect another huge wave of mortage debt defaults, leading to another round of falling home prices and problems for the banking sector.
All in all, the big economic picture is pretty grim. Indeed, the economy is at a crossroads here. Unfortunately, though, it seems to be heading down the recession path again.
And since every recession in history has been accompanied by a severe stock bear market, my suggestion is clear: Make sure that your portfolio is protected from this wealth-destroying scenario.
Best wishes,
Claus Vogt
Money and Markets

By the way
did u click the Link
just below the chart i posted
it clearly mentions the source
Get your eyes checked

Every Link in that post points to the source

Why do you keep raking trouble for no reason

Get your eyes checked first moron

The post clearly mentions the source

Such a fool, such a fraud, such a farce. Not surprising to
still have a following which finds his sick humor funny in
a world that calls good evil and evil good. Notice then the
profile... still listing himself on his own buddy list. Continues
to dish out vouches like candy from a pedofile. Has become
the master of edits and plagerism. Is consumed in all aspect
of communication with sexual references. Even this definition
falls short of his true character: narcissism - the personality
trait of egotism, vanity, conceit, or (AND) simple selfishness.

Dr. D.

well I don't mind getting an infraction for posting in bold and calling you a moron

but you deserve it, pissing off people for no reason.

Hey doc , waste of time and space most know what he is lol

sold right off todays uva , using todays poc as my line in sand and moving stop to just above it locking in a few pip

thought i would post this for you as you are looking at value area

Still waiting for the 5m to form to further push the
15m into compression or add energy to the 1h drop.

Dr. D.

Bought the bottom of the value area (also yesterdays low , ) and took most of my profit at last weeks low !.5694) just added a few back in at todays open area 1.5661 was my fill looking to test the highs again , c if we can make it all the way across the value area lol

same took it down in asia to 1.5620 , bought all way thru value are , sold top value and just closed at major support on daily 1.5655.... one of the best asian session I have had in a while

off to bed ... let es head up a bit as gap closes , should give us a nice gap up when i wake up and see if that fills....

good job man , rest well

G/M all....overnight lo at the 23.6% of the 4345-5997 swing...that being start of a 3 fib cluster extending down to 5580 which includes 38.2% 4944-same 5997 Hi and 23.6% of the main 4229-5997 swing...under here and 5559 is 50% of shorter 5117-5997 swing.

G/L

http://img135.imageshack.us/img135/9807/44888228.gif

hope u doing well doc..
I expect this actually break 1.60

edit:- just saw yur analysis ..lets see how it all pans out..im simply ignoring everything except the chart info and this is my trading approach..good luck all

Price back inside the daily t/f ascending channel and now within the 1hr/4hr descending channel which looks more than just a bull flag on 4hr ? ie doesn't look like one ? Big bearish thrust candle closed as yesterday's daily candle...well outside the 20 day average daily pip range.

G/L

majority of retailers with the Oanda broker still on short side - gbpusd. Good contrary indicator ? Lol

G/L

Turbo-charged monsoon confounds forecasters
Normally the jet stream is a giant loop of high speed winds that whip round the upper atmosphere, writes science correspondent Tom Clarke.

The jet stream isn’t involved in day to day weather - it’s too high up - but because it pushes the atmosphere around it’s very important in steering large scale weather patterns below.

The stream has split in two. One arm has gone north, another south. The patch in the middle is Russia’s drought. A circulating pattern of air has been sitting over Russia for far longer than normal, causing the extreme temperatures and wildfires they’ve had there.

But what’s happening over Pakistan is even stranger. The southern arm of the Jet stream has looped down so far it has crossed over the Himalayas into north western Pakistan. Experts at the Met Office tell me this is very unusual.

And the result is that the fast moving jets stream winds high up has helped suck the warm, wet, monsoon air even faster and higher into the atmosphere - and that has caused rains like no-one can remember. It has turbo charged the monsoon if you like. They’re not sure that’s ever happened before.

For any wondering what malc and I was going on about lol, the gray shaded areas are the days supposed value area . The open where I added previous longs back in was the new york roll over price , I had shorts from the rejection at the value area yesterday which were closed when I took the 1st longs . Think malcs levels may be a few pips different from the levels shown but they run pretty close , anyhow just an explanation , had other reasons for trying I few longs there at least for a bit . London may have other ideas but will see , cheers

Nice 1min bullish div based set-up at the local low following the pullback off 5713 area, ie to the 61.8% of the 5612-5713, with great PB/IPB/PB candle combo trigger.. With yeterdays bearish thrust candle one is always expecting some bearish action though, but must keep an open mind.

G/L