The 7th strongest earthquake (8.9)
ever recorded hit Japan last night creating a tsunami with 33 foot
waves. This occurred about 45 minutes after I said things
were relatively calm. The initial reaction led to selling in
the market with the SPX futures reaching a low 1278.50 (June
contract) before recovering overnight (currently 1287.50). Our
thoughts and prayers go out to anyone impacted by this natural
disaster.
WTI - (West Texas Interm) drops as traders take off risk by
getting rid of oil contracts. @CL futures are now basing at $99.88,
even as refineries are in flames.
Kobie - It looks like a descending triangle. There is a
gap below at SPX 1285.95 which corresponds to the measured move of
your HS or descending triangle should it be a confirmed breakdown.
It could morph into a falling wedge as well.
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Japan Earthquake
Posted by steve on 11th of Mar 2011 at 08:01 am
The 7th strongest earthquake (8.9) ever recorded hit Japan last night creating a tsunami with 33 foot waves. This occurred about 45 minutes after I said things were relatively calm. The initial reaction led to selling in the market with the SPX futures reaching a low 1278.50 (June contract) before recovering overnight (currently 1287.50). Our thoughts and prayers go out to anyone impacted by this natural disaster.
http://cdnmo.coveritlive.com/media/image/201103/php3ZKfJ6Japan.jpg
Fukushima Nuclear Plant...
Posted by saturn6 on 11th of Mar 2011 at 01:47 pm
Japan trade minister says TEPCO to relaease pressure in nuclear plant, say there is a risk of radiation leak.
Reports of another Large earthquake...
Posted by saturn6 on 11th of Mar 2011 at 02:04 pm
hitting North Japan.
And another Earthquake 6.1 on the Richter scale...
Posted by saturn6 on 11th of Mar 2011 at 02:25 pm
the previous was 6.2 and earlier 6.6 and the first was 8. something from recall.
Oil Drops
Posted by klatuu on 11th of Mar 2011 at 09:23 am
WTI - (West Texas Interm) drops as traders take off risk by getting rid of oil contracts. @CL futures are now basing at $99.88, even as refineries are in flames.
Klatuu
Oil drops cos...
Posted by saturn6 on 11th of Mar 2011 at 09:44 am
Anticipated 'day of rage' in Saudi has failed to materialise.
Hawaii tsunami?
Posted by deberah on 11th of Mar 2011 at 09:18 am
I'm headed to Oahu today for a week......anyone living there know if that's a mistake?
Hawaii
Posted by zach06 on 11th of Mar 2011 at 09:26 am
sounds like the waves already hit Hawaii with no apparent problems. They are forcasting 3-6 waves on the west coast.
Tsunami in HI appears to be mild.
Posted by klatuu on 11th of Mar 2011 at 09:24 am
steve, head and shld top?
Posted by kobie on 11th of Mar 2011 at 09:17 am
Posted a 5min chart with possible head and shldr top, like your view please. Can you get it in a downtrend?? Thnx ,Kobie.
steve,thnx. Still like to know if you can
Posted by kobie on 11th of Mar 2011 at 09:23 am
get a h&s top I drew in the descending triangle. The target down to 1284.
Kobie - It looks like
Posted by steve on 11th of Mar 2011 at 09:18 am
Kobie - It looks like a descending triangle. There is a gap below at SPX 1285.95 which corresponds to the measured move of your HS or descending triangle should it be a confirmed breakdown. It could morph into a falling wedge as well.