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Tuesday, August 21

21st Aug - US Close

Interesting day - the AAPL train finally stopped, and the SPX felt it immediately. Currently sitting at good short-term buying levels. EURUSD broke above the resistance area around 1.24, and looks like the next stop will be around 1.26. Do check my updated Calendar page.

Previously on MoreLiver’s:

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Roundups & Commentary
Markets – Between The Hedges
The Closer – alphaville / FT
Tyler’s US Summary – ZH
  Red Is The New Green - Volume & Volatility Surge

TV: Bloomberg, BBC
Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

NPL of Spanish banks
Why a collapse of the Eurozone must be
Anders Åslund: It has become increasingly fashionable to talk about Europe without the euro. But this column points out that in the last century Europe has seen the collapse of three multi-nation currency zones: the Habsburg Empire, the Soviet Union, and Yugoslavia – and they all ended with disastrous hyperinflation. The lesson for the Eurozone is clear: avoid break up at almost any cost. (see also ZeroHedge’s comments on this)
Real estate prices, Netherlands

Dutch domestic demand dragging real home valuesEconoMonitor
Today Statistics Netherlands (CBS) warned ”House Prices Nosedive“. Prices of existing owner-occupied dwellings sold in July 2012 were on average 8.0 percent down from July 2011.

The Spain – ECB Vaudeville Show Acting Man
nice overview and good charts

Chances of QE3 DiminishingTim Duy’s Fed Watch
Closely following the doves would lead one to conclude that QE3 was imminent.  This dovish chatter keeps the possibility of QE on the table.  But really this has been the case for months.  That should lead one to conclude that the bar to additional QE is high, very high.  The middle, led by Bernanke, is just not pulling in that direction.

Ten Charts That Show Sentiment Is Anything But Bearish ZH

Another Signal That The Rally Is Unsustainable ZH

People’s Bank of China’s liquidity injection failed to ease liquidityASA

PBoC managing China's rising interest ratesSober Look

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