BITCOIN PRICE FACES LOWER LOWS IN CONTINUING SLOW DECLINE
Bitcoin Price is continuing a slow decline. Our target at $330 has not been struck decisively and price currently looks set to return to it – if not lower.Global Economy
The Bank of Japan, this morning, shocked the world by announcing that it will increase its record breaking 70 Trillion Yen QE program to 80 Trillion Yen and triple its ETF buying program to 3 Trillion Yen.
The USD/JPY forex pair shot through 110 Yen per Dollar and the Nikkei stock index shot 1,000 points through the roof.
The exuberance is being manifest in stock indexes around the globe with the S&P500 also trading close to its all-time high. The downside of the BoJ move, of course, is that it is forcing a move on China whereby Yuan devaluation will become an export market necessity.
S&P500
Oh, Joy! A new all-time CFD high! 2,023.4 achieved during the Asian session of all times. Divergence (illustrated in magenta) says it’s not destined to continue indefinitely. [author's note: reader @Umi pointed out that this CFD high is not reflected in the actual S&P500 Index.]
S&P500 Weekly Chart
Gold
Oh, George W Bush! A new three-year low! $1,166 achieved during the LME witching-hour prior to the London open. Divergence (illustrated in magenta and cyan) says the low is bound to bounce, but it may reach $1000 before doing so. Breaking below $1,180 is a breach of major long-term support and if Gold does not climb above this level quickly, the downside potential could be catastrophic – especially in view of the fact that there is now an established correlation between Gold and Bitcoin.
Gold Weekly Chart
Selected Economic Data
- Bank of Japan Monetary Policy Statement
- Jaw-dropping 80 Trillion Yen QE Program
Gold
ReplyDeleteOh, George W Bush!
He's been out of office for SIX YEARS AND COUNTING.
Grow Up.
You might as well blame my Niece.......
Deletewho has never been in office....
(tough the Hindus trade in gold, hint, hint)
though
Delete(and deal with the Jews)
DeleteWhat in the hell are you talking about Deuce?
ReplyDeleteBitcoin and gold?
Please give us a "Rational Break".
Bitcoin
ReplyDeleteGold
Bush
Right
Where does Aunt Ebola fit into all this, and the Mossad trained Canadian Royal Mounted Police?
DeleteAnd Ash, the intelligence behind it all......
ReplyDeleteDoes anyone really think that the 98% of us old farts that actually have a little money in bank are going to be seeing our bankers about trading into Bitcoin Monday morning?
I am much more likely to fly off to Tahiti with may Hindu Niece than that.
And that's very unlikely to happen....
WASHINGTON — Republicans entered the final weekend before the midterm elections clearly holding the better hand to control the Senate and poised to add to their House majority. But a decidedly sour electorate and a sizable number of undecided voters added a measure of suspense.
ReplyDeleteThe final drama surrounded the Senate, which has been a Democratic bulwark for President Obama since his party lost its House majority in 2010. Republicans need to gain six seats to seize the Senate, and officials in both parties believe there is a path for them to win at least that many.
Yet the races for a number of seats that will decide the majority remained close, polls showed, prompting Republicans to pour additional money into get-out-the-vote efforts in Alaska, Georgia and Iowa. Democrats were doing the same in Colorado, where they were concerned because groups that tend to favor Republicans voted early in large numbers, and in Iowa.
While an air of mystery hung over no fewer than nine Senate races, the only question surrounding the House was how many seats Republicans would add. If they gain a dozen seats, it will give them an advantage not seen since 1948 and potentially consign the Democrats to minority status until congressional redistricting in the 2020s.......
http://www.nytimes.com/2014/11/02/us/politics/both-parties-see-campaign-tilting-to-republicans.html
A 'sour' electorate never votes for the party currently in power......
Wipe out coming.....
Mary Landrieu’s last ride?
ReplyDeleteMary Landrieu is pictured. | AP Photo
Landrieu says that she’s uniquely capable of transcending Congress’ partisan divides. | AP Photo
By ANDREW RESTUCCIA | 10/31/14 1:58 PM EDT
This story is part of an ongoing POLITICO series on how national policy issues are affecting the 2014 midterm elections.
HOUMA, La. — Sen. Mary Landrieu wants Louisiana voters to focus on the years she has spent fighting for oil and gas drilling in the Gulf of Mexico, the billions of dollars she’s secured for port and wetlands projects for her state and the way she championed Louisiana’s recoveries from disasters like Hurricane Katrina and the BP spill. But everywhere she goes, the Senate’s most endangered Democrat encounters the same persistent talking point.
“Mary Landrieu supports Barack Obama 97 percent of the time,” say the endless television and radio ads promoting Republican challenger Bill Cassidy, a statistic that has become a common theme even among some former Landrieu supporters in the state. Landrieu dismisses the figure as a “red herring,” but just days before the election, it’s forcing her to spend valuable time arguing that she’s not an Obama copycat.
And that helps explain why the 18-year senator faces so much peril at the polls, despite her impeccable Louisiana political pedigree, the power she wields as the chairwoman of the Senate’s Energy Committee and the years of unflagging loyalty she has received from her state’s dominant oil and gas industry. If Cassidy wins, it will because he has followed the playbook of so many other red-state Republicans this year — turning the race into a referendum on an unpopular president, and making local priorities less important than deciding which party will control the Senate................
Read more: http://www.politico.com/story/2014/10/mary-landrieu-energy-2014-election-112365.html#ixzz3HtmqLSHg