AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection



The creditcane has made landfall. It keeps trying to cause damage but the methane from the bulls has kept it in check.



SPX
Bearish spinning top day. So if yesterday was a hammer or takuri it was not confirmed. 1041.83 (fibo .09 from high) not tested. Well below the SMA(21) and below the SMA(233). Midpoint below EMA(10). Below the trendline using 2010 lows and below the 3/6/09-5/25/10 trendline. New low on daily 3LB (reversal is 1041.24). Trending down on daily 3LB. QE2infinity.



DXY
Bearish short day. The hair (upper shadow) is saying it wants to go higher. Held weekly 3LB reversal price (barely). Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated. Back below the 76.4% retrace. New low on daily 3LB (reversal now 85.69).



VIX
Bearish long day. Midpoint above EMA(10). "Fear is here so don't get fooled on market pumps. Repeat ad nauseam." Still above the SMA(55) and above the SMA(21). No daily 3LB changes (reversal is 45.79).



GOLD
Bullish piercing day. Back below the SMA(21) and above the SMA(55). Midpoint below EMA(10). Held weekly 3LB reversal price. "To hell with fiat! Say it again! I'm gold and I'm proud!" (Gold's rally cry). No daily 3LB changes (reversal is 1248.70).



EURUSD
Spinning top day. Possible start of evening star? Midpoint above the EMA(10). No test of the fibo .1855 at 1.2336. The test of the 1.1571 (the .236 fibo level) is on hold again. Tested trendline (11/27/09-3/17/10) and failed. New high on daily 3LB (reversal still 1.2214).



JNK
Bullish long day (confirmed hammer). Tested the 23.6% retrace (passed). Still below the SMA(233) but above the SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 39.38).



GS
Hammer day. Trying to get a reversal going. Midpoint below the EMA(10). Still no test of the 2.058 fibo (using low) of 144.98. Still wants to test the 1.618 fibo (using low) of 124.12. New low on daily 3LB (reversal now 133.44).



10YR YIELD
Bullish short day (not a hammer because hair is >10% of H-L). Midpoint below EMA(10). Did not test 0.0% retrace (new 0.0% coming soon). No daily 3LB changes (reversal is 30.32). Can you say 2.0%? YES. Is the Fed getting worried yet? HELL YES 3x.



WTI
Spinning top day. Possible start of morning star (again). Back below the SMA(21), SMA(55), and SMA(233). Midpoint below the EMA(10). New low on daily 3LB (reversal is 75.94).



LUMBER
Bearish short day. Closed above the SMA(21). Midpoint above EMA(10). Couldn't stay weekly 3LB mid. New high on daily 3LB (reversal now 183.60).

12 comments:

Nic said...

Thanks AmenRa!!

In other news S. African police say Paris Hilton busted for pot - AP http://bit.ly/aKr0du
I am laughing so hard, made my day.

bob said...

Thanks AR, long week.

Nic,

http://www.youtube.com/watch?v=Xd9VwVPEhnQ

CV said...

@Nic

"That's hot"...

trading diary said...

Ben, I think the same too:
...
C, on the other side of this thread, when the VIX is really low like that we should be trading options instead of ETF's due to the time decay issue.

Andy T said...

That Ghana/Uruguay match was ridiculous.

It seems like there should be some sort of rule against handballs at the goal line. It seemed very unsportsmanlike....

The Gyan guy should be put on suicide watch after that miss....his life will be miserable for a long time over that one.

Very unfortunate outcome.

AmenRa said...

Watch out for late night releases from the government. Even though the bulls fought back we still closed down. Let them marinate on that over this holiday weekend.


***Asia and Europe will be open Monday.

Nic said...

Paris has been released ... my perverse joy was shortlived.

I-Man said...

Paris just got a little cooler in I book...

BinT said...

Out all day with a small knife. I will say that this week's economic numbers reminded me of the height of the recession. And we are billions more in debt.

I think Sean Hannity reads our site. NPR was just music on the way home this afternoon (neighboring city surgery center) and I heard the term Petulant President. Maybe he's been using the term for some time, but I doubt it.

...Interesting..

Wes said...

I-man - cool, with you on that account dude

BinT said...

http://content.usatoday.com/communities/greenhouse/post/2010/07/food-safety-fears-rise-as-oil-found-in-gulf-crabs/1?loc=interstitialskip

Food safety concerns mount as oil found in Gulf crabs

CV said...

NEW THREAD

Post a Comment

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.