AmenRa's Corner

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

Creditcane™: I have become oil. I own you.

SPX
Shooting star day (ailed to confirm bearish harami). Midpoint above EMA(10). Above all SMA's. Above the 14.6% retrace (1319.09). New high on daily 3LB (reversal is 1313.80). QE2infinity. "JBTFD. Don't question it. Just do it."



DXY
Bearish short day. Midpoint below EMA(10). Held the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. No daily 3LB changes (reversal is 76.33). Rejected by SMA(21).



VIX
Bullish long day (yet closed lower from yesterday). Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 18.00). Still in the "no fear" zone. Closed below the monthly 3LB reversal price.



GOLD
Bearish short day (long tail shows bulls fought back). Midpoint about EMA(10). No test of 0.0% retrace. Still above SMA(21). No daily 3LB changes (reversal is 1394.10). Holding above upper trend line. Must have the precious.



EURUSD
Hanging man day. Midpoint above EMA(10). Still above 1.3870 (the 61.8% retrace). Above all SMA's. New high on daily 3LB (reversal is 1.3988).



JNK
Bearish long day (plus it gapped lower). Midpoint below EMA(10). Back below SMA(21,55,89). Closed at its 38.2% retrace (40.21). Still below lower trend line. Daily 3LB reversal down (reversal is 40.52).



10YR YIELD
Bearish long day. No test of 0.0% retrace at 37.44. Back below SMA(55). Midpoint above EMA(10). Held the upper trend line. No daily 3LB changes (reversal is 34.04).



WTI
Bullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace. New high nodally 3LB (reversal is 98.15). Ruh roh?



XLF
Spinning top day. Midpoint above EMA(10). Tested and failed SMA(55). Tested and failed 23.6% retrace (16.53). No daily 3LB changes (reversal is 16.77).



YEN
Bearish long day. Below all SMA's. Midpoint below EMA(10). Tested and passed its new 38.2% retrace (1.18459). New low on daily 3LB (reversal now 1.21320).

Morning Corner 4.1.11

WTI (weekly info)
new high 105.40
trend=no
direction=up (2 bars)
high= 105.40
rev= 79.89; mid= 92.65


Just when you think the situation in the Middle East is settled. WTI breaking out to new highs. Price shock at the gas station coming to a pump near you.



Natural Gas (weekly info)
WEEKLY REVERSAL new high 4.415
trend=no
direction=up (1 bar)
high= 4.415
rev= 3.805; mid= 4.110


The alternative to nuclear had a weekly 3LB reversal last week. This week seems like a lot of indecision. It is holding its SMA(89) on the weekly chart. Also is very close to breaking back above its monthly 3LB mid. It also has held the one of the upper trend lines. A break of 4.660 will take out the next trend line (for this week anyway).

Seems appropiate for today...

AmenRa's Corner

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

Creditcane™: I am a commodity. Watch how much damage I can create.

SPX
Bearish short day (possible bearish harami). Midpoint above EMA(10). Above all SMA's. Above the 14.6% retrace (1319.09). No daily 3LB changes (reversal is 1309.66). QE2infinity. "JBTFD. Don't question it. Just do it."



DXY
Bearish short day. Midpoint below EMA(10). Held the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. No daily 3LB changes (reversal is 76.33).



VIX
Bearish short day. Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 18.00). Still in the "no fear" zone. Closed at the monthly 3LB reversal ("at" not "below").



GOLD
Bullish long day. Midpoint below EMA(10). No test of 0.0% retrace. Still above SMA(21). No daily 3LB changes (reversal is 1394.20). Holding above upper trend line. Must have the precious.



EURUSD
Bullish short day. Midpoint above EMA(10). Still above 1.3870 (the 61.8% retrace). Above all SMA's. No daily 3LB changes (reversal is 1.3978).



10YR YIELD
Spinning top day. No test of 0.0% retrace at 37.44. Still above SMA(55). Midpoint above EMA(10). Held the upper trend line. No daily 3LB changes (reversal is 34.04).



WTI
Bullish long day. Still above all SMA's. Midpoint above EMA(10). No test 0.0% retrace. Holding above the 14.6% retrace (103.64). Daily 3LB reversal up (reversal is 98.15).



SILVER
Bullish short day. Still above all SMA's. Midpoint above EMA(10). No test of 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 37.20).



COPPER
Bullish short day. Midpoint below EMA(10). Still below SMA(21). No tests of 0.0% retrace (4.667). No daily 3LB changes (reversal is 4.137).



CORN
Bullish long day. Midpoint above EMA(10). Above all SMA's. Holding above tis 50.0% retrace (647.50). No daily 3LB changes (reversal is 702.50).



RBOB Gasoline
Bullish long day. Midpoint above EMA(10). Above all SMA's. Made a new 0.0% retrace (3.12). New high on daily 3LB (reversal is 2.80).

Morning Corner 3.31.11

IWM/SPY (wekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 0.6010
rev= 0.6281; mid= 0.6154


Say what you what but this proxy for liquidity is saying liquidity is increasing. This week it is now trading above its weekly 3LB reversal price. Doesn't look like the market implosion is ready to take place just yet. Give it time. Even stars fall from the sky in due time.



30Yr Bond (weekly info)
-no change (above mid)
trend=up
high= 121.750
rev= 118.500; mid= 120.125



Bernanke is safe for now. But it's testing its weekly 3LB mid indicating that a chance to move lower may be in the works. The move will probably happen in May or early June as QE2 nears expiration.


DXY/Gold (monthly info)
new low 0.0545
trend=down
low= 0.0545
rev= 0.0600; mid= 0.0573



FYI. As you can see the value of the dollar relative to gold is abysmal. It's also still falling.

AmenRa's Corner

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

I'm getting tired of letting the bulls get away with this...

Creditcane™: I was ambushed on the corner of Wall and Broad.

SPX
Bullish short day (also a true gap up). Midpoint above EMA(10). Above all SMA's. Above the 14.6% retrace (1319.09). New high on daily 3LB (reversal is 1309.66). QE2infinity. "JBTFD. Don't question it. Just do it."



DXY
Spinning top day again. Midpoint above EMA(10). Held the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. No daily 3LB changes (reversal is 76.33).



VIX
Bearish short day. Midpoint below EMA(10). Back below all SMA's. New low on daily 3LB (reversal is 19.17). Still below monthly 3LB & weekly 3LB mid. Still in the "no fear" zone.



GOLD
Spinning top day again. Midpoint below EMA(10). No test of 0.0% retrace. Back above SMA(21). No daily 3LB changes (reversal is 1392.80). Holding above upper trend line. Must have the precious.



AUDJPY
Bullish long day. Midpoint above EMA(10). Currently above all SMA's. Now above its 85.4% retrace (0.8368). New high on daily 3LB (reversal is 0.8268). Closed at its weekly 3LB reversal.



JNK
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Closed above its 50.0% retrace (40.42). Still below lower trend line. New high on daily 3LB (reversal is 40.23).



IQI
Bullish long day. Midpoint above EMA(10). Back above SMA(89). Holding above its 23.6% retrace (11.68). No daily 3LB changes (reversal is 12.30). Still above its weekly 3LB mid (11.76).



10YR YIELD
Bearish short day. No test of 0.0% retrace at 37.44. Still above SMA(55). Midpoint above EMA(10). Held the upper trend line. No daily 3LB changes (reversal is 34.04).



SILVER
Spinning top day again. Still above all SMA's. Midpoint above EMA(10). No test of 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 36.28).



TLT
Bullish short day. Midpoint below EMA(10). Back above SMA(21). Still above lower trend line. No daily 3LB changes (reversal is 89.68).



BKX
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89) & SMA(21). Above its 38.2% retrace (51.48). No daily 3LB changes (reversal is 53.31).

Morning Corner 3.30.11

Case-Shiller (monthly info)
new low 154.65
trend=down
low= 154.65
rev= 161.06; mid= 157.85



Per the Case-Shiller home prices are now trending down. So anyone saying home prices are at their lows are wrong. On top of that home prices have been heading lower for the last six months. Listen to those commercials if you want to - "Now is a great time to buy". Yeah right.



Skew (daily info)
-no change (above mid)
trend=down
low= 118.54
rev= 128.76; mid= 123.65



This is something new. Skew is a measure of tail risk. Similar to the VIX but uses otm options in its calculations. Only recently being offered by the CBOE (since 2/23/11). Waiting for them to add the historical data to the data feed. Usually ranges from 100 (normal) to 150 (high risk). The Skew is the histogram and the Vix is the black line.