AmenRa's Corner

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



Creditcane™: (Horns playing in background): "The new color is gold".



SPX
Doji day. Start of evening star? Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above the SMA(21), SMA(55), SMA(89) & SMA(144). Above 1110.02 (the .09 fibo from high). No daily 3LB changes (reversal is 1090.10). QE2infinity.



DXY
Bearish long day. Below all SMA's. Midpoint below EMA(10). Closed below its 50% retrace (and weekly 3LB mid). New low on daily 3LB (reversal is 82.40).



VIX
Spinning top day again. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.



GOLD
Bullish long day. Still above all SMA's. Midpoint above EMA(10). It found the 0% retrace (new 0% coming soon). New high on daily 3LB (reversal is 1249.00).



EURUSD
Bullish long day again. Midpoint above EMA(10). Well above the 23.6% retrace. Above all SMA's. It's above the trendline (11/27/09-3/17/10). Daily 3LB reversal up (reversal now 1.2695).



JNK
Bearish short day. Evening star? Above all SMA's. Midpoint above EMA(10). Closed above 76.4% retrace. New high on daily 3LB (reversal is 39.44).



10YR YIELD
Bearish long day (confirmed bearish engulfing). The 0.0% fibo retrace at 24.69 has been holding. Back below the 14.6% retrace (26.94) and below the weekly 3LB mid (27.60). Midpoint above EMA(10). No daily 3LB changes (reversal is 24.99).



AUDJPY
Doji day again. Still above 38.2% retrace. Tested and failed the 50% retrace. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 75.5382).



DJ TRANS AVG
Doji day. Another evening star? Holding above the upper trendline and all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4400.40). Trending up on the daily 3LB.



SLV
Bullish long day. Midpoint above EMA(10). Above all SMA's. Made a new 0% for the retrace. New high on daily 3LB (reversal is 19.42).




16 comments:

Andy T said...

What a day. Hate getting stopped out of positions, but shit happens. I'm out of the DXY...the action seems a little too weird for me...looking for any kind of impulse higher on the intraday to jump back in.

S&P looking spry...can't help but feel we get a "bull trap" above the neckline. I had a really busy day so not following if CNBC muppets are highlighting that inverted H&S yet....

Someone please tell me they are....

Won a KC bet last night...lost at FF to McFear...I'll take it.

CV: Check's in the mail tomorrow, I promise.

karen said...

Andy! Weird is the right word.. bizarre.. i watched in fascination today.. trying to get my bearings..

CV, VERY IMPORTANT.. my son shed some light on that video you shared with me today about the the Muslim worship in the streets of Paris..

(1) "well, it's from the christian broadcast network so kind of dubious to me, however i will ask guillaume."

(2) "also it's really important to note that it's was ramadan this past month, and that ramadan always sees way more muslims traveling to city centers and actually attending mid-day prayer and so on (it's required to actually go to mosque, esp on 1st day) which results in there not being enough space & people having to pray in the street/entire prayers being conducted outdoors. very similar to yom kippur. our street (11th) between 1st and A was closed off several times during the month because the mosque on the street was spilling over and people were having to pray just outside the mosque. so i doubt it's some kind of political statement that "we can do this, take that french people", or if it is it would have been nice of the broadcaster to mention something about ramadan. lots of governments have to make exceptions on particular holy days because the only alternative is essentially to prevent worship."

karen said...

Another bit of WISDOM from from my son:

on a somewhat related subject i read the first 2 chapters of a book called "were you born on the wrong continent" by geogehan today and it is HILARIOUS and incredible, absolutely delightful and you must read it right away, i'm tempted to just order it for you now. has absolutely convinced that i need to spend some time living in europe, and kind of made me want to learn german.

also read "the shallows" by carr today, which i'd intended to just flip through briefly but ended up being unable to put down. pretty transformative in terms of how i look at computers & the internet, definitely going to be spending a lot less time on here and pretty much no more reading blogs, no more lots of tabs, wikipediaing etc.

karen said...

and in "whatever" news: U.S. dollar spikes against yen, rising to ¥83.60 from ¥82.85 in just minutes

Nic said...

Bank of Japan FinMin Noda confirmed intervention in FX. BoJ bought dollars, bucky got a boost across the board

AmenRa said...

The BoJ has intervened. The pain of the yen moving higher was too much.

AmenRa said...

Nic

I guess the BoJ decided to call the yen traders bluff.

Nic said...

If the twitter comments are anything to go by a lot of people either did not tighten or did not have stops. Much gnashing of teeth. Karl Denninger has post about it with NSFW words

AmenRa said...

I spy a sell the rally moment coming very soon.

There have to be some currency traders leveraged the wrong way being carried out on stretchers right about now.

AmenRa said...

Also how does this affect Chinas buying of Japanese bonds (which helped push the yen higher)?

AmenRa said...

Even though the crosses AUDJPY & EURJPY are higher the individual currencies are lower. Gold hasn't budged that much, US futures are slightly higher and oil is down.

Tomorrow will be interesting. Creditcane agrees.

Nic said...

Interventions never work without coordinated action from other central banks. This will be a good short when its evened out.
China must be pissed tonight.

AmenRa said...

Nic

China is pissed. Chinas FinMin probably just called Japans FinMin: "You want a piece of me? You want a piece of me!"

AmenRa said...

Knock. Knock.
Wallst#1: Who is it?
Would you like to buy some cookies?
Wallst#1: Sure. How much?
Let me in and I'll show you the price list.
Wallst#2 (looking through peephole): Don't open the door! That's K-A-T-H-E-R-I-N-E!

Bruce in Tennessee said...

Sept. 15 (Bloomberg) -- U.S. state pensions such as Illinois, Kansas and New Jersey are in a “death spiral,” with assets at many insufficient to cover benefits, payouts consuming a growing portion of resources and costs rising twice as fast as investment gains.

Less than half the 50 state retirement systems had assets to pay for 80 percent of promised benefits in their 2009 fiscal years, according to data compiled for the Bloomberg Cities and Debt Briefing in New York today. Two years earlier, only 19 missed the mark. Illinois covered just 50.6 percent of benefits last year, the lowest so-called funded ratio, which actuaries say shouldn’t be less than 80 percent.

Benefits paid by funds in at least 14 states equaled more than 10 percent of assets in the fiscal year, the figures show. In 2007, none exceeded the threshold. The growing burden prompted Colorado, Minnesota, Michigan and other states to trim benefits for millions of teachers and government workers. It also forced fund managers to keep money in short-term low-return investments to pay benefits, reducing chances pensions can earn their way back to financial health.

“Once you get into that dynamic, you’re in a death spiral,” said Michael Aronstein, who manages the $295 million Marketfield Fund of stocks as chief investment strategist at Oscar Gruss & Son, a New York brokerage. “There’s no financial or return solution.”

CV said...

new thread

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