AmenRa's Corner

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

That's right. We're performing our annual Stomp The Yard!!!

Creditcane™: I dare you to back me into a corner again.

SPX
Bearish long day. Midpoint below EMA(10). Failing SMA(144). Failing trend line (3/6/09-7/1/10). Failed the 76.4% retrace (1277.73). Failing monthly 3LB mid. Had a weekly 3LB reversal down. New low on daily 3LB (reversal is 1286.17). QE2infinity. "JBTFD. Any questions?"



DXY
Bullish long day (completed three white soldiers pattern). Midpoint above EMA(10). No test of 0.0% retrace (72.70). Tested and held SMA(55). Tested and held its 23.6% retrace (74.73). Held its weekly 3LB mid. Daily 3LB reversal up (reversal is 73.52).



VIX
Bullish long day. Midpoint above EMA(10). Back above all SMA's. Held its 23.6% retrace (18.28). New high on daily 3LB (reversal is 18.30). Wants to escape the "no fear" zone.



GOLD
Bearish engulfing day (but direction is sideways). Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Above all SMA's. Failed its 14.6% retrace (1539.32). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURUSD
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and failed its 76.4% retrace (1.4346). Daily 3LB reversal down (reversal is 1.4692). "Run Trichet. Run."



JNK
Bearish long day (annihilated bullish harami star). Midpoint below EMA(10). Failing all SMA's. No test of 0.0% retrace (40.93). Tested and failed its 100.0% retrace (39.58) - new range coming. Tested and failed trend line (2/5/10-2/12/10). New low on daily 3LB (reversal is 40.05).



10YR YIELD
Bearish harami day (in a downtrend no less). Still below all SMA's. Midpoint below EMA(10). No test of 0.0% retrace (29.19). Still below the upper trend line. No daily 3LB changes (reversal is 30.61).



WTI
Bearish long day. Failed SMA(144). Midpoint above EMA(10). No test of 0.0% retrace (114.83). Tested and failed its 50.0% retrace (102.07) but held its 61.8% retrace (98.93). No dally 3LB changes (reversal is 111.41).



SILVER
Bearish engulfing day. Failed SMA(89) & SMA(21). Midpoint above EMA(10). Back below the upper trend line. Failing its 50.0% retrace (38.05). Failed lower edge of triangle. Daily 3LB reversal down (reversal is 38.30). ""You want delivery! You can't handle the delivery!"



BKX
Doji day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 76.4% retrace (47.07) but held its 85.4% retrace (46.03). No daily 3LB changes (reversal is 47.69).



CAT
Bearish long day. Midpoint below EMA(10). Below all SMA's except SMA(233). Made a new weekly low. Closed below its monthly 3LB reversal price (97.01). New low on daily 3LB (reversal is 101.10).

WORLD WIDE PREMIERE JULY 1, 2011

Morning Corner 6.10.11

C (weekly info)
-no change (below mid)
trend=up
high= 51.30
rev= 39.80; mid= 45.55


How's that reverse split working out for you? Citigroup is now trading below its weekly 3LB reversal price. It's also below all of its SMA's. Playing catch up with the other banks as they are already in downtrends.



BAC (weekly info)
new low 11.28
trend=down
low= 11.28
rev= 12.28; mid= 11.78


BAC down move soldiers on. It's already trending down on the weekly 3LB. This week it may close below its monthly 3LB mid (additional weakness). Below all of its SMA's. Don't walk away. Run.



JPM (weekly info)
new low 41.57
trend=down
low= 41.57
rev= 43.15; mid= 42.36


Dimon may have to stop confronting Bernanke and pay attention to his own house. JPM is trending down on tits weekly 3LB. It's now below all of its SMA's. It is now below its monthly 3LB mid. The only positive is that it hasn't violated the lower trend line…yet.



WFC (weekly info)
new low 26.90
trend=down
low= 26.90
rev= 28.50; mid= 27.70


The double top at 34.25 was prescient. WFC is trending down on its weekly 3LB. It's below all of the SMA's It appears to be holding its 76.4% retrace. It's still above its monthly 3LB mid (the only one of the four). This weeks candle doesn't scream continuation. Looks to be forming a morning star reversal pattern (we'll see what happens next week).

AmenRa's Corner

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

Why oh why has the SPX forsaken me?

Creditcane™: Dodged a knockout blow. Bring it on tomorrow.

SPX
Bullish long day. Midpoint below EMA(10). Tested and failed SMA(144). Failing trend line (3/6/09-7/1/10). Held the 76.4% retrace (1277.73). Tested and failed daily 3LB mid. Failing monthly 3LB mid. No daily 3LB changes (reversal is 1300.16). QE2infinity. "JBTFD. Any questions?"



DXY
Bullish long day (possible 2nd day of three white soldiers?). Midpoint below EMA(10). No test of 0.0% retrace (72.70). Below all SMA's. Held its 14.6% retrace (73.95). Failing its weekly 3LB mid. No daily 3LB changes (reversal is 74.64).



VIX
Bearish short day. Midpoint above EMA(10). Back below SMA(144) & SMA(89). Failed its 23.6% retrace (18.28). No daily 3LB changes (reversal is 15.52). Wants to escape the "no fear" zone.



GOLD
Spinning top day. Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Above all SMA's. Held its 14.6% retrace (1539.32). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURUSD
Bearish short day (confirmed bearish engulfing). Midpoint above EMA(10). Above all SMA's. Tested and failed its 85.4% retrace (1.4640). No daily 3LB changes (reversal is 1.4379).



JNK
Bullish harami star day. Midpoint below EMA(10). Tested and failed its SMA(233). No test of 0.0% retrace (40.93). Tested andheld its 76.4% retrace (39.90). Tested and held trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 40.31).



10YR YIELD
Bullish engulfing day. Still below all SMA's. Midpoint below EMA(10). Made a new 0.0% retrace (29.19). Still below the upper trend line. No daily 3LB changes (reversal is 30.61).



WTI
Bullish short day. Held SMA(144). Midpoint above EMA(10). No test of 0.0% retrace (114.83). Tested and failed its 50.0% retrace (102.07). No dally 3LB changes (reversal is 111.41).



SILVER
Bullish long day. Held SMA(89). Midpoint above EMA(10). Back above the upper trend line. Failing its 50.0% retrace (38.05). No daily 3LB changes (reversal is 36.12). ""You want delivery! You can't handle the delivery!"



BKX
Bullish long day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 76.4% retrace (47.07). No daily 3LB changes (reversal is 47.69).



HYG/LQD
Bullish harami day. No test of 0.0% retrace (0.8111). Below all SMA's. Midpoint below EMA(10). No daily 3LB changes (reversal is 0.8263).

WORLD WIDE PREMIERE JULY 1, 2011

Morning Corner 6.9.11

DJ TRANS AVG (weekly info)
WEEKLY REVERSAL new low 5220.25
trend=no
direction=down (1 bar)
low= 5220.25
rev= 5514.87; mid= 5367.56

Is the DJ Trans Avg leading the way for the rest of the US indices? It's already confirming the weekly 3LB reversal. It's further below its SMA(21). It's below its monthly 3LB mid. Please form a single line at the exit. No pushing.



DJ INDU AVG (weekly info)
-no change (below mid)
trend=no
direction=up (2 bars)
high= 12810.54
rev= 11858.52; mid= 12334.53

The Dow Industrial is not fully in sync with the Trans Avg…yet. But because the high coincided with the end of the month and end of the week the 3LB reversals are similar. It's below its weekly 3LB mid (& monthly) but hasn't reversed. It's also below its SMA(21). A lot can happen in two days.

AmenRa's Corner

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

Dancin', dancin', dancin'. We're a dancin' machine.

Creditcane™: Are you scared yet? Well are you?

SPX
Bearish short day. Midpoint below EMA(10). Failing all SMA's but SMA(233). Failing trend line (3/6/09-7/1/10). Tested and held the 76.4% retrace (1277.73). Tested and held weekly 3LB reversal. Failing monthly 3LB mid. New low on daily 3LB (reversal is 1300.16). QE2infinity. "JBTFD. Any questions?"



DXY
Bullish long day. Midpoint below EMA(10). No test of 0.0% retrace (72.70). Below all SMA's. Held its 14.6% retrace (73.95). Failing its weekly 3LB mid. No daily 3LB changes (reversal is 74.64).



VIX
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Held its 23.6% retrace (18.28). New high on daily 3LB (reversal is 15.52). Wants to escape the "no fear" zone.



GOLD
Bearish short day. Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Above all SMA's. Failed its 14.6% retrace (1539.32). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURUSD
Bearish engulfing day. Midpoint above EMA(10). Above all SMA's. Tested and failed its 85.4% retrace (1.4640). No daily 3LB changes (reversal is 1.4379).



JNK
Bearish long day. Midpoint below EMA(10). Tested and failed its SMA(233). No test of 0.0% retrace (40.93). Tested and failed its 76.4% retrace (39.90). New low on daily 3LB (reversal is 40.31).



10YR YIELD
Bearish short day. Still below all SMA's. Midpoint below EMA(10). Made a new 0.0% retrace (29.33). Still below the upper trend line. New low on daily 3LB (reversal is 30.61).



WTI
Spinning top day. Tested and held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Held its 61.8% retrace (98.93). No dally 3LB changes (reversal is 111.41).



SILVER
Hanging man day (right at trend line). Held SMA(89). Midpoint above EMA(10). Still below the upper trend line. Failing its 50.0% retrace (38.05). No daily 3LB changes (reversal is 36.12). ""You want delivery! You can't handle the delivery!"



BKX
Bearish short day (didn't confirm inverted hammer). Midpoint below EMA(10). Failing all SMA's. Failing its 76.4% retrace (47.07). New low on daily 3LB (reversal is 47.69).



TLT
Bullish long day. Midpoint above EMA(10). Back above SMA(233). No test of 0.0% retrace (97.72). Trading above its upper trend line. Tested and held its 14.6% retrace (96.54). No daily 3LB changes (reversal is 97.64).



HYG/LQD
Bearish long day. Tested and failed its 0.0% retrace (0.8157) so new range tomorrow. Below all SMA's. Midpoint below EMA(10). New low on daily 3LB (reversal is 0.8263).

WORLD WIDE PREMIERE JULY 1, 2011

Morning Corner 6.8.11

AUDJPY (weekly info)
-no change (above mid)
trend=up
high= 0.8852
rev= 0.8241; mid= 0.8553


The other proxy for risk is getting weaker as it is now trading below its weekly 3LB mid. It's also below its SMA(21). Look for it to test the previous high of 0.8382. The move may happen faster than usual.



CSCO (weekly info)
new low 16.00
trend=down
low= 16.00
rev= 16.86; mid= 16.43


Cisco just can't catch a break. It's rapidly approaching its March 2009 low. It's below all of the SMA's. It continues to make new weekly lows. When do they turn on the bat signal?