AmenRa's Corner

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




Creditcane™: I was having so much fun. Who called the cops to break up the party?


SPX
Hammer day (better reversal if close is higher). Midpoint below EMA(10). Failed SMA(21). Tested and failed the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Below daily & weekly mids.



DXY
Bullish long day. Midpoint above EMA(10). Tested and held the 383.2% retrace (75.83). Back above all SMA's. Daily 3LB reversal up (reversal is 73.47).



VIX
Bearish long day (after huge gap higher). Midpoint above EMA(10). Held SMA(21). Failing its 0.0% retrace (45.40). Tested and failed its 61.8% minor retrace (38.05). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone.



GOLD
Doji day (also evening star). Midpoint above EMA(10). Holding above its 38.2% minor retrace (1840.15). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.



EURCHF
Bullish long day. Midpoint above EMA(10). Tested and held its 38.2% retrace (1.1717). Tested and held SMA(89). Daily 3LB reversal up (reversal is 1.1197). SNB decided to flex.



JNK
Spinning top day (gapped lower). Midpoint below EMA(10). Back below SMA(21). Failing its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bullish short day (also morning star). Still failing all SMA's. Midpoint below EMA(10). Held below its 0.0% retrace (19.96). New low on daily 3LB (reversal is 22.71).



WTI
Doji day. Still above SMA(21). Midpoint below EMA(10). Holding above its 0.0% retrace (80.32). Tested and held its 38.2% minor retrace (85.30). No dally 3LB changes (reversal is 92.08).



SILVER
Bearish long day. Still holding above all SMA's. Midpoint above EMA(10). Held above its 38.2% retrace (40.74). No daily 3LB changes (reversal is 37.94).



BKX
Hammer day (we'll see if it gets confirmed). Midpoint below EMA(10). Failing SMA(21). Tested and held its 0.0% minor retrace (36.25). New low on daily 3LB (reversal is 39.95).



HYG/LQD
Bearish long day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7427). Tested and failed its 38.2% minor retrace (0.7585). No daily 3LB changes (reversal is 0.7910).



USDJPY
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (77.497). New high on daily 3LB (reversal is 76.46).




IT HAS BEGUN. BE WARNED.

16 comments:

ben22 said...

you da man Ra! thanks for all your hard work

are you familiar with the "falling threes" in candlestick terms?

If so, take a look at the various time frames on ES, it's textbook falling threes.

ben22 said...

flags and pennants have actually been really good for the last 7-8 months

this flag, I've never seen so many people keyed into a short term pattern

I have to lean toward it not working, I'd also note that for the start of a bear market, all the news is most certainly bad, it's basically universal (bad news)

basic shit I realize, but probably worth thinking about

alright, off to my last draft

the one tough thing about being in 3 leagues is that if you aren't careful you've got to pretty much root for everyone every week, which can't be good every week.....fantasy players know exactly what that means.

QQQQ said...

can't wait until Thursday,

J
Øbama
B
S

US will prosper thereafter.

AmenRa said...

ben22

I didn't notice them on the 5, 15, 30, 60, daily or weekly. But I did see many examples of three white soldiers and three black crows.

BinT said...

If the German high court says the bailout is unconstitutional, no matter what O says, it won't help...

Andy T said...

after today's action, i'm particularly proud of my last slide in the update. that mofo bounced right at that trendline....

yeah, fundamentals really matter....

not.

Andy T said...

AR, what do you think of the Gold action today. Sort of looks like a rejection into the previous high. I've been thinking triangle since the first dumparoo....

i guess i'm still looking for sideways congestion on the daily.

AmenRa said...

Andy T

SGE did another margin hike before the Chinese festival.

AmenRa said...

Ummm doesn't the market head for the cliff after a horrendous NFP? Or is it treading water due to hopes of QE3?

ben22 said...

Ra,
there are a few on this chart:

http://evilspeculator.com/wp-content/uploads/2011/09/2011-09-05_spoos_hourly.png

http://www.candlestickforum.com/PPF/Parameters/16_804_/candlestick.asp

Oddly enough, I had pick 7 of 12 and I got Ray Rice in the first round

pretty happy about that

ben22 said...

"Ummm doesn't the market head for the cliff after a horrendous NFP?"

according to the bespoke chart last week it seemed more like the worse the NFP the better for the market

in a round-about way this makes sense on some level since NFP will always be a lagging indicator

ben22 said...

AT, 8:55

yeah, nice

though I would say we are in no mans land, as strong as that support line was, this trendline is serving as even stiffer resistance:

http://tinypic.com/r/qx46du/7

Harry1867 said...

@Andy 8:55
I drew your line and 2 perfect touches: one at 10:40 the other at 10:47 - Well done

AmenRa said...

I just want to know what is the half life of the SNB pegging the CHF to the EUR.

AmenRa said...

A little more insight into the SNB thoughts: http://www.zerohedge.com/contributed/its-war

Bruce Krasting on the US DOJ & Swiss.

QQQQ said...

gold dropped about $60 in minutes... hmmm

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