AmenRa's Corner

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



Creditcane™: Was that a BOOM from the insurers?



SPX
Doji day. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 1193.57). The monthly 3LB reversal has been placed on IR. QE2infinity.



DXY
Bullish long day (confirmed bullish engulfing). Midpoint below EMA(10). Above the 85.4% retrace at 76.29. No daily 3LB changes (reversal is 78.18).



VIX
Bearish long day. Midpoint below EMA(10). Back below all SMA's. Below weekly 3LB mid and monthly 3LB mid. Failed to close gap. No daily 3LB changes (reversal is 21.83). Getting comfortable in the "no fear" zone.



GOLD
Spinning top day. Back above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1357.60).



EURUSD
Bearish long day (confirmed bearish engulfing). Midpoint below EMA(10). Held its 61.8% retrace at 1.3899. Back below SMA(21). No daily 3LB changes (reversal is 1.3732).



JNK
Bearish short day (confirmed bearish harami). Still above all SMA's. Midpoint above EMA(10). Trading range is still between the Gann 3x1 and 4x1. No daily 3LB changes (reversal is 40.42).



10YR YIELD
Bullish short day (confirmed bullish harami). The 0.0% fibo retrace at 23.59 is the line in the sand. Still above the weekly 3LB mid (25.35) and above SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 27.12).



DJ TRANS AVG
Doji day again. The upper trend line is far enough away to be historical. Above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4818.62).



CRB
Bullish short day. Another hanging man gets reprieve. Midpoint above EMA(10). Above all SMA's. Still failing the Gann 1x1. New high on daily 3LB (reversal is 305.07).



XLF
Bearish harami day. Could have been a hanging man but needed to gap higher. Midpoint above EMA(10). Back above all SMA's. No daily 3LB changes (reversal is 14.23).



EURJPY
Bearish long day. Back below SMA(21) & SMA(144). Midpoint below EMA(10). Tested and failed its 38.2% retrace at 1.1447. Daily 3LB reversal down (reversal is 1.1558).



LEFTBACK'S BOND REPORT

The Bond Report 11.8.10

A bit of risk-off today, not a very interesting day in all honesty. We will pass on the usual witticisms and analytical gems and just say, what a snoozer. The 3y auction was luke-warm.

Corpies: LQD 0.05%; AGG -0.05%; JNK -0.51%; HYG -0.29%;
Govies: TLT 0.45%; IEI -0.05%; TIP 0.14%
Hedgies: TBT -0.81%

We are watching the 10y and 30y auctions with interest. There may be a buying opportunity ahead in long bonds on weakness. TLT chart shows a possible trading range between 98 and 102, and we bounced off that support today.


15 comments:

AmenRa said...

Speech of Dallas Fed President and CEO Richard W. Fisher: http://dallasfed.org/news/speeches/fisher/2010/fs101108.cfm

Good read.

cv said...

Fisher for CZAR of monetary policy!

cv said...

@ben

Dude... (from other thread)... You gotta quit pussyfooting around when you say "DE RAIDERS"...

This is how you say it... (play at full volume)...

http://www.youtube.com/watch?v=P6uACjVFS2g

cv said...

@ben

Best of both worlds is when you can get "C'MON MAN & DE RAIDERS" together in the same sound byte...

Andy T said...

I really need Rashard Mendenhall to "go off" tonight....something like 150 yards with 2TDs would be "sweet."

mcHAPPY said...

Andy,

Do you have any idea what POTENTIAL targets the (C) could be looking at if in fact the highs of (B) are in?

mcHAPPY said...

CV,

I think it was you who was discussing politicians being 'sexy' - if it wasn't my apologies.

Anyways point is has anyone seen the new Mayor of Toronto? So people are clear, Toronto is not some hick Canadian town, eh - it is the 4th largest city in North America and largest city in Canada.

Luckily looks did not determine the outcome of this race.

mcHAPPY said...

Funny how this story:

http://m.cnbc.com/us_news/40079208

came out after this story:

http://www.theglobeandmail.com/news/world/asia-pacific/obama-backs-indias-un-aspirations-with-qualifications/article1789552/

So the way I see it is:

"C'mon man, buy our T's and we'll get you a permanent seat on the UN Security Council."

ben22 said...

McHappy,

think about this, EWI is showing a C wave that could go to 1250....or higher, and certainly this is a good possibility. That said, I'm sure you just read EWFF, think of the sentiment figures they went through, Neely's terminal C with a fifth wave failure seems far more logical given the sentiment backdrop when it's considered.

DL said...

Now Krugman is arguing that Bernanke isn’t going nearly far enough with QE:

http://nyti.ms/bK4pef

ben22 said...

of course, to Andy's point on RSI Divergence, NAS doesn't really support fifth wave failure:

http://stockcharts.com/h-sc/ui?s=%24COMPQ

AmenRa said...

Loonie is heading lower...
AUDJPY, EURJPY lower
Silver over 28
Gold still pushing higher after breaking 1400

and Steelers are 6-0 on Monday Night.

mcHAPPY said...

Ben,

I'm talking about (C) not the current C. i.e. the follow up to the decline in to '08-'09.

Bruce in Tennessee said...

http://money.cnn.com/2010/11/08/news/economy/thebuzz/index.htm

Oil near $90. Thanks a lot, Fed.

CV said...

new thread

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