Weekend Timeouts

If you haven't figured it out yet... The BREAD & CIRCUSES have arrived... This is NCAA Week 2 - while the NFL kicked off the season two days ago (as soon as the TELEPROMPTER finished his speech on how just another $450 billion on the tab & we'll be home free)...

Speaking of 'HOME' & 'FREE'... I figured I'd add a little musical accompaniment (on this '10th Anniversary - 9/11 weekend)... I'll just deposit it here without comment (as everyone is free to reflect as they choose)...

Rockin' In the Free World

As I stated last week... I'm going to continue to publish a weekend 'feature' game (NCAA or NFL) here in this space (as well as a link to the blogspace I'm running now which deals exclusively with NCAA/NFL Football & Fantasy Sports)...

- FULL SLATE OF CV'S WEEK 2 NCAA PICKS -

- WEEK 1 NFL PICKS -

WEEK 2 - FEATURE GAME



 #3 Alabama Crimson Tide (-10.5) vs. #23 Penn St. Nittany Lions (3:30 PM) 

No offense to 'ben22' here (a PSU alum)... But this is one of CV's highest rated plays in NCAA 'against' his alma mater...

CV is going with a 4 unit play on BAMA... They're just too fast & talented on defense & Penn State may not even score here (unless their DEFENSE either gets them some points &/or sets them up in opposing territory for some kind of field goal attempt)...
Basically, I'm thinking a WHITEWASH is more than likely to overcome the WHITE OUT...
But that's just me... So far, it's all on paper [he said 'paper']... I guess that's why they go ahead and play the game...
ALABAMA for (4 units)

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Note: I'll continue to use the other blog only as a 'pick' resource for quite awhile (Comments are disabled there)... Whether any of you like it or not... I like to hang around HERE to yuk it up... Why?

Sometimes you wanna go where everybody knows your name...

AmenRa's Corner

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

Creditcane™: Hi. My name is Greece. I'll be your substitute teacher for the day.

SPX
Bearish long day (confirmed bearish harami). Midpoint below EMA(10). Failed SMA(21). 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 50.0% retrace (76.55). Still above all SMA's. New high on daily 3LB (reversal is 74.01). Trading just below the monthly 3LB reversal price.



VIX
Bullish long day. Midpoint above EMA(10). Held SMA(21). Failing its 0.0% retrace (45.40). Tested and held its 61.8% minor retrace (39.46). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone…barely.



GOLD
Spinning top day. Midpoint above EMA(10). Tested and held its 38.2% minor retrace (1840.15). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.



EURUSD
Bearish long day. Midpoint below EMA(10). Still below all SMA's. Tested and failed its 61.8% retrace (1.3861) and 38.2% minor retrace (1.3671). New low on daily 3LB (reversal is 1.4498).



JNK
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Decided to make a new 0.0% retrace (18.96). New low on daily 3LB (reversal is 22.60).



WTI
Bearish short day. Tested and held SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (80.32). Tested and failed its 61.8% minor retrace (88.47). No dally 3LB changes (reversal is 92.08).



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



BKX
Bearish long day (confirmed bearish harami). Midpoint below EMA(10). Failing SMA(21). Tested and failed its 0.0% retrace (36.25). New low on daily 3LB (reversal is 39.85).



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
Spinning top day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 76.46).



TLT
Bullish long day. Midpoint above EMA(10). Holding above all SMA's. Tested and held its 0.0% minor retrace (112.58). New high on daily 3LB (reversal is 111.20).

IT HAS BEGUN. BE WARNED.

Morning Corner 9.9.11

GS (weekly info)
new low 107.06
trend=down
low= 107.06
rev= 116.47; mid= 111.77


Goldman has its own set of problems to deal with. But this week is forming an inverted hammer. So a reprieve from the move down might be in the works. It's below all SMA's. It's still making a new weekly low on the weekly 3LB.



XLF (weekly info)
-no change (below mid)
trend=down
high= 12.13
rev= 14.76; mid= 13.45


The XLF weekly candle is bullish. Unfortunately it's a bullish thrusting (aka continuation of current trend). It's below all SMA's. It made a lower high than last week. Feel free to put a toe in the water. Just make sure it's not bleeding because the sharks are waiting.

AmenRa's Corner

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

"We are not forsaken! We are not forsaken!"

Creditcane™: Ok, who is trying to get me to wake up?

SPX
Bearish harami day. Midpoint above EMA(10). Held SMA(21). Held above the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Back below daily & weekly mids.



DXY
Bullish long day. Midpoint above EMA(10). Tested and held the 38.2% retrace (75.83). Still above all SMA's. New high on daily 3LB (reversal is 73.47).



VIX
Doji day. Midpoint below EMA(10). Failing SMA(21). Failing its 0.0% retrace (45.40). Tested and held its 38.2% retrace (33.51). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone.



GOLD
Bullish long day (didn't confirm evening star). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (1840.15). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.



EURUSD
Bearish long day. Midpoint below EMA(10). Still below all SMA's. Tested and failed its 50.0% minor retrace (1.4014). New low on daily 3LB (reversal is 1.4503).



JNK
Bullish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Back below its 0.0% retrace (19.96). No daily 3LB changes (reversal is 22.71).



WTI
Bearish thrusting day. Still above SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (80.32). Tested and held its 61.8% minor retrace (88.47). No dally 3LB changes (reversal is 92.08).



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



BKX
Bearish harami day. Midpoint below EMA(10). Tested and failed SMA(21). Holding above its 0.0% retrace (36.25). No daily 3LB changes (reversal is 39.95).



HYG/LQD
Spinning top day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7427). Tested and held its 50.0% minor retrace (0.7634). No daily 3LB changes (reversal is 0.7910).



USDJPY
Doji day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 76.46).

IT HAS BEGUN. BE WARNED.

Morning Corner 9.8.11

DAX (weekly info)
-no change (below mid)
trend=down
low= 5480.00
rev= 6981.49; mid= 6230.75


You don't get many gap downs on the weekly chart. Unfortunately the DAX had one. It also closed below its 50.0% retrace. It's below all SMA's.The current weekly candle is bullish but it's not a reversal candle.



GOLD (weekly info)
new high 1876.90
trend=up
high= 1876.90
rev= 1651.80; mid= 1764.35


Even though the was a pretty wicked sell off in gold it hasn't broken any support levels. The uptrend is still intact for now. It's above all SMA's. It's trying to form a bearish engulfing on the weekly candle. Now that the SNB is losing its "safe haven" status where else can traders go?



3 Mth vs Overnight Libor (daily info)
new high 0.194
trend=up
high= 0.194
rev= 0.187; mid= 0.191


The spread is back to early August 2010 levels aka back to pre QE2 levels. Perfect timing for the FOMC meeting. Most of the EU banks are getting their funding from the ECB and not each other. The rate at which the spread is increasing is bordering on exponential. The EU can't talk their way out this time.

AmenRa's Corner

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

"Why has thou forsaken me?"

Creditcane™: Wake me up when the market realizes it's all a dream.

SPX
Bullish long day (confirmed hammer). Midpoint below EMA(10). Held SMA(21). Tested and held the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Back above daily & weekly mids.



DXY
Bearish long day. Midpoint above EMA(10). Tested and failed the 38.2% retrace (75.83). Still above all SMA's. No daily 3LB changes (reversal is 73.47).



VIX
Bearish short day (after huge gap lower). Midpoint below EMA(10). Failed SMA(21). Failing its 0.0% retrace (45.40). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 25.25). Still on parole from the "extreme fear" zone.



GOLD
Bearish long day (completed evening star). Midpoint above EMA(10). Tested and failed 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). New high on daily 3LB (reversal is 1.1197). SNB still flexing.



JNK
Bullish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Spinning top day (completed morning star - barely). Still failing all SMA's. Midpoint below EMA(10). Back above its 0.0% retrace (19.96). No daily 3LB changes (reversal is 22.71).



WTI
Bullish long day. Still above SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (80.32). Tested and held its 61.8% minor retrace (88.47). No dally 3LB changes (reversal is 92.08).



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



BKX
Bullish long day (confirmed hammer). Midpoint below EMA(10). Tested and held SMA(21). Held above its 0.0% retrace (36.25). No daily 3LB changes (reversal is 39.95).



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



USDJPY
Bearish short day. Midpoint above EMA(10). Held above SMA(21). Tested and failed its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 76.46).



EEM
Bullish long day. Midpoint above EMA(10). Back above SMA(21). Held above its 61.8% minor retrace (41.12). No daily 3LB changes (reversal is 45.46).

IT HAS BEGUN. BE WARNED.