AmenRa's Corner

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

"The market didn't break any of my levels that indicate sentiment change."

Creditcane™: That short selling ban will increase my wrath exponentially.

SPX
Bullish short day. Midpoint below EMA(10). Still below all SMA's. Held above the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. In an uptrend this would be an evening star. Still below daily, weekly & monthly 3LB mids.



DXY
Spinning top day. Midpoint above EMA(10). Holding its 0.0% retrace (73.51). Tested and failed 50.0% minor retrace (74.67). Still below SMA(55) & SMA(89). No daily 3LB changes (reversal is 75.75).



VIX
Spinning top day. Midpoint above EMA(10). Way above all SMA's. Failed its 0.0% retrace (39.25). Tested and held its 38.2% minor retrace (35.61). No daily 3LB changes (reversal is 25.25). Ran away from the "extreme fear" zone.



GOLD
Bearish short day (confirmed dark cloud cover). Midpoint above EMA(10). Failed its 0.0% retrace (1801.00). Still above all SMA's. Tested and held its 38.2% minor retrace (1740.31). No daily 3LB changes (reversal is 1666.30). Must have the precious.



EURCHF
Bullish long day (2nd day of three white soldiers?). Midpoint above EMA(10). Tested and held its 61.8% minor retrace (1.0803). New high on daily 3LB (reversal is 1.0296).



JNK
Bearish thrusting day. Midpoint below EMA(10). Still failing all SMA's. Holding its 0.0% retrace (36.35). Held above its 61.8% minor retrace (37.38). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bearish harami day. Failing all SMA's. Midpoint below EMA(10). Held above its 0.0% retrace (21.73). Still below the upper trend line. No daily 3LB changes (reversal is 24.58).



WTI
Spinning top day (also bearish harami). Still failing all SMA's. Midpoint below EMA(10). Tested and held its 38.2% minor retrace (85.30). No dally 3LB changes (reversal is 91.93).



SILVER
Bullish short day. Tested and held SMA(89). Midpoint below EMA(10). Held above its 50.0% retrace (37.94). No daily 3LB changes (reversal is 40.70).



BKX
Bearish thrusting day. Midpoint below EMA(10). Failing all SMA's. Held its 0.0% retrace (36.55). Tested and failed its 38.2% minor retrace (39.08). No daily 3LB changes (reversal is 42.34).



HYG/LQD
Bearish harami day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7427). Tested and failed its 50.0% minor retrace (0.7634). No daily 3LB changes (reversal is 0.7928).



USDJPY
Bearish short day. Midpoint below EMA(10). Still below all SMA's. Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 79.01). Calling BoJ. Calling BoJ. The ball is in your court. Maybe they didn't hear me. "Bōru wa anata no saibansho ni aru"



AAPL
Spinning top day. Still failing SMA(21). Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (379.60). No daily 3LB changes (reversal is 398.50).

IT HAS BEGUN. BE WARNED.

Morning 8.12.11

30 Yr Bond (weekly info)
WEEKLY CONFIRMATION new high 132.188
trend=no
direction=up (2 bars)
high= 132.188
rev= 122.688; mid= 127.438

Appears buying of the 30 yr doesn't plan on stopping just yet. Almost hard to believe the auction was almost a failure (or was it?). It's above all SMA's. It tested and held its 0.0% retrace (135.156). This is as high as its been since 10/08. So does that mean the economy is better or traders are scared as hell?



BOVESPA (weekly info)
new low 52949.22
trend=down
low= 52949.22
rev= 71830.18; mid= 62389.70


Since most people are looking at the problems in the EU they might need to look a little closer to home first. Brazil's index closed below its 50.0% retrace last week. It's below all SMA's. It even tested its 61.8% retrace. Currently this week is forming a bullish thrusting so the down move is taking a breather before continuing.



IBEX (weekly info)
WEEKLY REVERSAL new low 8671.20
trend=no
direction=down (1 bar)
low= 8671.20
rev= 11068.10; mid= 9869.65

Spain is also having its own share of problems. It closed below its 50.0% retrace last week and is now below its 61.8% retrace this week. It's also below all SMA's. Now Spain is implementing a short sale ban. The 0.0% retrace may be tested much sooner than anticipated.

AmenRa's Corner

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

Creditcane™: Ouch! That will leave a scar.

SPX
Bullish long day. Midpoint below EMA(10). Still below all SMA's. Tested and held the 61.8% retrace (1168.03). Tested and held the 38.2% minor retrace (1122.84). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below daily, weekly & monthly 3LB mids.



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



VIX
Bearish short day. Midpoint above EMA(10). Way above all SMA's. Tested and held its 0.0% retrace (39.25). No daily 3LB changes (reversal is 25.25). Ran away from the "extreme fear" zone.



GOLD
Dark cloud cover day (needs confirmation!!!). Midpoint above EMA(10). Tested and held its new 0.0% retrace (1801.00). Still above all SMA's. No daily 3LB changes (reversal is 1666.30). Holding above upper trend line. Must have the precious.



EURCHF
Bullish engulfing day. Midpoint below EMA(10). Holding above its 0.0% retrace (1.0048). Tested and held its 61.8% minor retrace (1.0803). Daily 3LB reversal up (reversal is 1.0296).



JNK
Bullish engulfing day. Midpoint below EMA(10). Still failing all SMA's. Holding its 0.0% retrace (36.35). Tested and held its 61.8% minor retrace (37.38). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bullish engulfing day. Failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (21.73). Still below the upper trend line. No daily 3LB changes (reversal is 24.58).



WTI
Bullish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (80.17).Tested and held its 38.2% minor retrace (85.30). No dally 3LB changes (reversal is 91.93).



SILVER
Spinning top day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and held its 50.0% retrace (37.94). No daily 3LB changes (reversal is 40.70).



BKX
Bullish harami day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 0.0% retrace (36.55). Tested and failed its 38.2% minor retrace (39.08). No daily 3LB changes (reversal is 42.34).



HYG/LQD
Bullish engulfing day. Failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (0.7427). Tested and held its 61.8% minor retrace (0.7682). No daily 3LB changes (reversal is 0.7928).



USDJPY
Bearish short day. Midpoint below EMA(10). Still below all SMA's. Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 79.01). Calling BoJ. Calling BoJ. The ball is still in your court.

IT HAS BEGUN. BE WARNED.

Morning Corner 8.11.11

Rough Rice (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
low= 16.98
rev= 13.16; mid= 15.87

Rough rice is starting to break to new highs. It's above all SMA's. It closed above its 61.8% minor retrace (16.92). These prices are not good for China as their citizens will become angry. Food inflation is serious there.



Wheat (weekly info)
no change (above mid)
trend=down
low= 702.00
rev= 846.50; mid= 774.25


Unlike Rough Rice, Wheat has been stuck in a trading range for the past month. It's trying to get above the 38.2% retrace. It's back above (and trying to hold) the SMA(233).


CAC 40 (weekly info)
WEEKLY REVERSAL new low 3278.56
trend=no
direction=down (1 bar)
low= 3278.56
rev= 4157.14; mid= 3717.85

Et il est allé. France's stock index is set to test the July 2009 lows. It's below all SMA's. It's below its 61.8% retrace (3138.89). It's also trading below its monthly 3LB reversal price.

Bears motivational speech before the market open...

AmenRa's Corner

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

"Feed me Seymourrrr!!!!"

Creditcane™: My version of the blitz attack. Payback is a ...

SPX
Bearish harami day. Midpoint below EMA(10). Still below all SMA's. Tested and failed the 61.8% retrace (1168.03). Tested and failed the 38.2% minor retrace (1122.84). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below daily, weekly & monthly 3LB mids.



DXY
Bullish long day. Midpoint below EMA(10). Holding its 0.0% retrace (73.51). Tested and held 50.0% minor retrace (74.67). Back above 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 (39.25). No daily 3LB changes (reversal is 25.25). Ran back into the "extreme fear" zone.



GOLD
Bullish long day (didn't confirm shooting star). Midpoint above EMA(10). Tested and held its new 0.0% retrace (1782.50). Still above all SMA's. New high on daily 3LB (reversal is 1666.30). Holding above upper trend line. Must have the precious.



EURCHF
Bearish short day. Midpoint below EMA(10). THolding above its 0.0% retrace (1.0048). Failing all SMA's. New low on daily 3LB (reversal is 1.0787).



JNK
Bearish long day. Midpoint below EMA(10). Still failing all SMA's. Holding its 0.0% retrace (36.35). Tested and failed its 50.0% minor retrace (37.18). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bearish short day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (21.73). Still below the upper trend line. New low on daily 3LB (reversal is 24.58).



WTI
Spinning top day again. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (80.17). No dally 3LB changes (reversal is 91.93).



SILVER
Bullish long day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and held its 50.0% retrace (37.94). No daily 3LB changes (reversal is 40.70).



BKX
Bearish long day (didn't confirm bullish harami). Midpoint below EMA(10). Failing all SMA's. Tested and failed its 0.0% retrace (36.55). Tested and failed its 38.2% minor retrace (39.08). New low on daily 3LB (reversal is 42.34).



HYG/LQD
Bearish long day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (0.7427). New low on daily 3LB (reversal is 0.7904).



USDJPY
Bearish short day. Midpoint below EMA(10). Still below all SMA's. Tested and held its 38.2% retrace (76.561). Daily 3LB reversal down (reversal is 79.01). Calling BoJ. Calling BoJ. The balls back in your court.



TLT
Bullish long day. Midpoint above EMA(10). Holding above all SMA's. Holding above its 0.0% retrace (105.79). New high on daily 3LB (reversal is 105.36).

IT HAS BEGUN. BE WARNED.