AmenRa's Corner

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

Creditcane™: I came. I saw. I almost got conquered.

SPX
Doji day (I'd say morning star but is didn't gap lower). Midpoint below EMA(10). Still below all SMA's. Failing trend line (3/6/09-7/1/10). Tested and failed the 50.0% retrace (1204.58). New low on daily 3LB (reversal is 1286.96). QE2infinity.



DXY
Dark cloud cover day. Midpoint above EMA(10). Holding its 0.0% retrace (73.51). Tested and failed 50.0% minor retrace (74.67). Back below SMA(21), SMA(55) & SMA(89). No daily 3LB changes (reversal is 75.75).



VIX
Bullish short day. Midpoint above EMA(10). Way above all SMA's. Tested and held its 0.0% retrace (32.07). New high on daily 3LB changes (reversal is 23.74). Ran all the way to the "fear" zone.



GOLD
Bullish short day. Midpoint above EMA(10). Tested and failed its new 0.0% retrace (1675.90). Still above all SMA's. No daily 3LB (reversal is 1619.00). Holding above upper trend line. Must have the precious.



EURCHF
Bullish short day. Midpoint below EMA(10). Tested and held its 0.0% retrace (1.0829). Failing all SMA's. No daily 3LB changes (reversal is 1.1297).



JNK
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (38.31). Failing trend line (2/5/10-2/12/10). New low on daily 3LB (reversal is 39.68).



10YR YIELD
Bullish piercing day. Failing all SMA's. Midpoint below EMA(10). Tested and held its new 0.0% retrace (24.56). Still below the upper trend line. No daily 3LB changes (reversal is 27.40).



WTI
Bullish thrusting day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (86.04). No dally 3LB changes (reversal is 94.89).



SILVER
Bearish short day. Tested and failed SMA(21). Midpoint below EMA(10). Failed test of the upper trend line. Tested and held its 50.0% retrace (37.94). New low on daily 3LB (reversal is 41.76).



BKX
Bearish short day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 0.0% retrace (42.31). New low on daily 3LB (reversal is 45.63).



HYG/LQD
Spinning top day (also a bullish harami). Failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (0.7670). No daily 3LB changes (reversal is 0.8065). Failed its weekly 3LB reversal price (0.8022).



TLT
Bearish short day. Midpoint above EMA(10). Holding above all SMA's. Trading above its upper trend line. Tested and failed its 38.2% minor retrace (103.06). No daily 3LB changes (reversal is 98.58).



EEM
Bearish short day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 0.0% retrace (42.79). New low on daily 3LB (reversal is 45.62).

IT HAS BEGUN. BE WARNED.

"We're looking to recruit over the weekend."

Morning Corner 8.5.11

ES (weekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 1263.75
rev= 1354.25; mid= 1309.00

The 61.8% retrace happens to line up with the lows from 11/16/10-121/10. That's the next level of support if the 50.0% retrace fails to hold. It's below all SMA's. It's below its daily, weekly and monthly 3LB mids. Standing on the edge of the cliff and not realizing it has started to crumble away.



CSCO (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 16.48
rev= 14.93; mid= 15.71

After a few weeks of "happy, happy, joy, joy" the weakness has returned. With a vengeance. It never made it to the 38.2% minor retrace and is now trading below its weekly 3LB reversal price. It's back below all SMA's and its 0.0% retrace. The lows from 11/08 & 2/09 are the next levels of support.




****I'm having problems posting comments on blogger.com today but can post blogs. Go figure.***

AmenRa's Corner

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

Creditcane™: K-A-T-H-E-R-I-N-E is a friend of mine.

SPX
Bearish LONG day (failed to confirm hammer). Midpoint below EMA(10). Still below all SMA's. Failing trend line (3/6/09-7/1/10). Tested and failed the 50.0% retrace (1204.58). New low on daily 3LB (reversal is 1292.28). QE2infinity. Still below daily, weekly mids & monthly 3LB reversal.



DXY
Bullish engulfing day. Midpoint above EMA(10). Holding its 0.0% retrace (73.51). Tested and held 61.8% minor retrace (74.94). Back above SMA(21), SMA(55) & SMA(89). No daily 3LB changes (reversal is 75.75).



VIX
Bullish LONG day. Midpoint above EMA(10). Way above all SMA's. Tested and held its 0.0% retrace (25.94). New high on daily 3LB changes (reversal is 22.98). Ran all the way to the "fear" zone.



GOLD
Spinning top day (confirmed evening star). Midpoint above EMA(10). Tested and failed its new 0.0% retrace (1675.90). Still above all SMA's. No daily 3LB (reversal is 1619.00). Holding above upper trend line. Must have the precious.



EURCHF
Bearish long day (didn't confirm bullish harami). Midpoint below EMA(10). Tested and failed its 0.0% retrace (1.0829). Failing all SMA's. New low on daily 3LB (reversal is 1.1297).



JNK
Bearish LONG day. Midpoint below EMA(10). Now failing all SMA's. Failed its 0.0% retrace (38.59). Failing trend line (2/5/10-2/12/10). New low on daily 3LB (reversal is 40.28).



10YR YIELD
Bearish long day (morning star imploded). Failing all SMA's. Midpoint below EMA(10). Tested and failed its new 0.0% retrace (26.04). Still below the upper trend line. New low on daily 3LB (reversal is 27.40).



WTI
Bearish LONG day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 100.0% retrace (90.92). New low on dally 3LB (reversal is 94.89). Also filled gap from 2/16/11-2/17/11.



SILVER
Bearish long day. Tested and failed SMA(21). Midpoint above EMA(10). Still above the upper trend line. Tested and failed its 38.2% retrace (40.69). Daily 3LB reversal down (reversal is 41.76).



BKX
Bearish LONG day (failed to confirm hammer/bullish harami). Midpoint below EMA(10). Failing all SMA's. Tested and failed its 100.0% retrace (44.57). New low on daily 3LB (reversal is 46.29).



HYG/LQD
Bearish LONG day (failed to confirm hammer). Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (0.7888). New low on daily 3LB (reversal is 0.8065). Failing its weekly 3LB reversal price (0.8022).



USDJPY
Bullish long day. Midpoint above EMA(10). Back above SMA(21). Tested and held its 38.2% minor retrace (78.074). Daily 3LB reversal up (reversal is 76.86). Calling BoJ. Calling BoJ. I see you intervened. How long do you think it will last?



XRT
Bearish LONG day. Midpoint below EMA(10). Tested and failed SMA(144). Tested and failed its 61.8% retrace (50.48). Tested and failed its 61.8% minor retrace (48.58). New low on daily 3LB (reversal is 53.25).

IT HAS BEGUN. BE WARNED.

"Squad 1 cover the front. Squad 2 cover the back. The rest with me."

Morning Corner 8.4.11

CAT (weekly info)
-no change (below mid)
trend=no
direction=up (2 bars)
high= 110.41
rev= 95.95; mid= 103.18

It appears that Caterpillar is losing steam. It closed below its SMA(21) two weeks ago. It's testing its weekly 3LB reversal this week (and monthly 3LB). It's also testing its SMA(55).



FDX (weekly info)
-no change (below mid)
trend=no
direction=up (2 bars)
high= 97.56
rev= 85.38; mid= 91.47

It seems CAT is not alone. FedEx is even weaker. It's below its SMA(21), SMA(55) & SMA(89). It's also below its 38.2% retrace (87.54). It's testing its weekly 3LB reversal, SMA(233) and 50.0% retrace.



JNJ (weekly info)
WEEKLY REVERSAL new low 64.79
trend=no
direction=down (1 bar)
low= 64.79
rev= 67.57; mid= 66.18

Consumers must be buying off brands as JNJ is moving lower. It had a weekly reversal down last week. It tested its monthly 3LB mid this week. It's below its SMA(21) and 50.0% minor retrace (64.04).

AmenRa's Corner

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

Creditcane™: Damn. I knew I should've never turned my back to my opponent.

SPX
Hammer day (also bullish harami). Midpoint below EMA(10). Still below all SMA's. Failing trend line (3/6/09-7/1/10). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1300.67). QE2infinity. Still below daily, weekly & monthly 3LB mids.



DXY
Bearish long day (also bearish engulfing). Midpoint above EMA(10). Holding its 0.0% retrace (73.51). Tested and failed 38.2% minor retrace (74.40). Still below all SMA's. No daily 3LB changes (reversal is 75.75).



VIX
Spinning top day (confirmed hanging man). Midpoint above EMA(10). Still above all SMA's. Tested and held its 61.8% retrace (23.05). No daily 3LB changes (reversal is 16.52). Still running away from the "no fear" zone.



GOLD
Doji day (also a possible evening star). Midpoint above EMA(10). Tested and failed its new 0.0% retrace (1664.50). Still above all SMA's. New high on daily 3LB (reversal is 1619.00). Holding above upper trend line. Must have the precious.



EURCHF
Bullish harami day. Midpoint below EMA(10). Tested and held its new 0.0% retrace (1.0829). Failing all SMA's. No daily 3LB changes (reversal is 1.1452).



JNK
Bearish short day. Midpoint below EMA(10). Now failing all SMA's. Failed its 38.2% retrace (39.80). Failing trend line (2/5/10-2/12/10). New low on daily 3LB (reversal is 40.45).



10YR YIELD
Spinning top day (possible morning star). Failing all SMA's. Midpoint below EMA(10). Tested and failed its new 0.0% retrace (26.04). Still below the upper trend line. New low on daily 3LB (reversal is 28.05).



WTI
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 100.0% retrace (93.34). New low on dally 3LB (reversal is 95.70).



SILVER
Bullish long day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Tested and held its 38.2% retrace (40.69). New high on daily 3LB (reversal is 40.34).



BKX
Bullish harami day. Midpoint below EMA(10). Failing all SMA's. Tested and held its 100.0% retrace (44.57). No daily 3LB changes (reversal is 46.42).



HYG/LQD
Hammer day (or takuri because of extra long tail). Failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (0.7888). New low on daily 3LB (reversal is 0.8084). Failing its weekly 3LB reversal price (0.8022).



USDJPY
Bearish long day. Midpoint below EMA(10). Below all SMA's. Failing its 61.8% minor retrace (77.497). New low on daily 3LB (reversal is 77.85). Calling BoJ. Calling BoJ. Are you all bark and no bite? Still waiting for an answer.



COPPER
Bearish short day. Midpoint below EMA(10). Still failing SMA(21). Tested and held its 61.8% retrace (4.331). No daily 3LB changes (reversal is 4.478).

IT HAS BEGUN. BE WARNED.

Looks like we need to call in reinforcements.