Morning Corner 10.21.11

COFFEE (weekly info)
-no change (below mid)
trend=down
low= 225.45
rev= 278.90; mid= 252.18


Coffee is trending down on the weekly 3LB. Last week tried to push higher but failed at the 38.2% retrace. Not time to stock up just yet.



HSKAX (weekly info)
-no change (above mid)
trend=down
low= 14.62
rev= 14.88; mid= 14.75


Can you hear the sound of quant shops blowing up? Market neutral might be the wrong name. It's below all SMA's. It's trending down on the weekly 3LB. It's trying to fill the gap from a few weeks ago.

AmenRa's Corner

...can prevent market meltups based on unfounded rumors.

Creditcane™: I'll see if I can crash the EU Summit.

SPX
Bullish short day (didn't confirm bearish harami - duh). Midpoint above EMA(10). Failing SMA(89). Held the 50.0% retrace (1204.58). No daily 3LB changes (reversal is 1119.46). QE2infinity.



DXY
Spinning top day. Midpoint below EMA(10). Failing the 61.8% retrace (77.27). Failing SMA(21). No daily 3LB changes (reversal is 79.43). Not confirming the monthly 3LB reversal up.



VIX
Bullish short day. Midpoint above EMA(10). Held SMA(89). Held its 38.2% retrace (33.51). No daily 3LB changes (reversal is 25.25). Can't escape the "fear" zone.



GOLD
Bearish long day. Midpoint below EMA(10). Failing its 50.0% retrace (1651.50). Tested and held SMA(144). No daily 3LB changes (reversal is 1757.30). Must have the precious.



EURUSD
Spinning top day. Midpoint above EMA(10). Holding SMA(21). Failing its 61.8% retrace (1.3903). No daily 3LB changes (reversal is 1.3415).



JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 38.2% retrace (37.62). New high on daily 3LB (reversal is 37.48).



10YR YIELD
Spinning top day. Held SMA(55). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 20.76).



WTI
Doji day (confirmed bearish engulfing). Held SMA(55). Midpoint above EMA(10). Failing its 61.8% minor retrace (87.30). No dally 3LB changes (reversal is 85.65). Not confirming the monthly 3LB reversal down.



SILVER
Bearish short day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (30.76). No daily 3LB changes (reversal is 36.58).



BKX
Bullish short day (didn't confirm bearish harami). Midpoint above EMA(10). Tested and held SMA(55). Tested and failed its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 38.93).



HYG/LQD
Spinning top day. Holding SMA(55). Midpoint above EMA(10). Holding its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7635).



USDJPY
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 77.63).



COPPER
Bearish long day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 0.0% retrace (3.095). New low on daily 3LB (reversal is 3.408).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 10.20.11

WTI (weekly info)
WEEKLY REVERSAL new high 87.04
trend=no
direction=up (1 bar)
high= 87.04
rev= 79.44; mid= 83.24

Just when you thought WTI was previewing lower prices, it decides to have a weekly 3LB reversal up last week. It bested the SMA(13) and some of the minor retraces. This week has taken back some of those gains and is currently a bearish thrusting. It needs to continue lower to form at least a dark cloud cover to send a reversal signal.



ROUGH RICE (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 17.96
rev= 14.23; mid= 16.10

Other than last week the prices for Rough Rice have fallen. This prevents riots in some countries. It's testing and failing the SMA(13) this week. It's also retesting the 61.8% retrace.



Palladium (weekly info)
-no change (below mid)
trend=down
low= 589.00
rev= 817.45; 703.23


Palladium tried to hold its 50.0% retrace. It tested and failed the SMA(89). It had a monthly 3LB reversal down in September. That move higher last week has already stalled.

AmenRa's Corner

Creditcane™: I'm having so much fun with the EU countries.

SPX
Bearish harami day. Midpoint above EMA(10). Tested and failed SMA(89). Held the 50.0% retrace (1204.58). No daily 3LB changes (reversal is 1119.46). QE2infinity.



DXY
Bearish short day. Midpoint below EMA(10). Failing the 61.8% retrace (77.27). Failing SMA(21). No daily 3LB changes (reversal is 79.43). Not confirming the monthly 3LB reversal up.



VIX
Spinning top day. Midpoint above EMA(10). Held SMA(89). Tested and held its 38.2% retrace (33.51). No daily 3LB changes (reversal is 25.25). Can't escape the "fear" zone.



GOLD
Spinning top day. Midpoint below EMA(10). Tested and failed its 50.0% retrace (1651.50). Tested and failed SMA(21). No daily 3LB changes (reversal is 1757.30). Must have the precious.



EURUSD
Doji day. Midpoint above EMA(10). Held SMA(21). Failing its 61.8% retrace (1.3903). No daily 3LB changes (reversal is 1.3415).




JNK
Spinning top day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 38.2% retrace (37.62). No daily 3LB changes (reversal is 37.04).



10YR YIELD
Spinning top day. Held SMA(55). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 20.76).



WTI
Bearish engulfing day. Held SMA(55). Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (87.30). No dally 3LB changes (reversal is 85.65). Not confirming the monthly 3LB reversal down.



SILVER
Bearish short day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (31.80). No daily 3LB changes (reversal is 36.58).



BKX
Bearish harami day. Midpoint above EMA(10). Tested and held SMA(55). Tested and failed its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 38.93).



HYG/LQD
Bearish short day. Held SMA(55). Midpoint above EMA(10). Held its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7513).



USDJPY
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 77.54).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 10.19.11

IBEX (weekly info)
WEEKLY CONFIRMATION new high 8975.50
trend=no
direction=up (2 bars)
high= 8975.50
rev= 7910.20; mid= 8442.85

This move higher in the IBEX is about done. The two notch downgrade should have it testing previous lows soon. It managed to get above the SMA(13), the 61.8% minor retrace and the monthly 3LB mid. It's making a bearish engulfing this week (so far).



AUDJPY (weekly info)
WEEKLY REVERSAL new high 0.7915
trend=no
direction=up (1 bar)
high= 0.7915
rev= 0.7376; mid= 0.7646

It appears that the EU rumors caused a "risk on" condition. Unfortunately that long bullish weekly candle is not a reversal candle. It could be a part of a longer pattern but this week is negating that idea. It couldn't hold the SMA(89) or SMA(13). It's struggling to hold the 50.0% retrace.

AmenRa's Corner

...can prevent market meltups based on unfounded rumors.

Creditcane™: I'm still vacationing in Europe. Don't listen to what they say. Watch what they do.

SPX
Bullish long day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and held the 50.0% retrace (1204.58). New high on daily 3LB (reversal is 1119.46). QE2infinity.



DXY
Doji day. Midpoint below EMA(10). Tested and failed the 61.8% retrace (77.27). Failing SMA(21). No daily 3LB changes (reversal is 79.43). Not confirming the monthly 3LB reversal up.



VIX
Spinning top day. Midpoint below EMA(10). Held SMA(89). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 25.25). Couldn't escape the "fear" zone.



GOLD
Bearish short day. Midpoint below EMA(10). Tested and held its 50.0% retrace (1651.50). Tested and failed SMA(21). No daily 3LB changes (reversal is 1757.30). Must have the precious.



EURUSD
Doji day. Midpoint above EMA(10). Held SMA(21). Failing its 61.8% retrace (1.3903). No daily 3LB changes (reversal is 1.3415).




JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 38.2% retrace (37.62). New high on daily 3LB (reversal is 37.04).



10YR YIELD
Bullish short day. Held SMA(55). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 20.76).



WTI
Bullish long day (confirmed bearish thrusting). Held SMA(55). Midpoint above EMA(10). Tested and held its 61.8% minor retrace (87.30). New high on dally 3LB (reversal is 85.65). Not confirming the monthly 3LB reversal down.



SILVER
Bullish short day. Failing all SMA's. Midpoint above EMA(10). Tested and held its 61.8% minor retrace (31.80). No daily 3LB changes (reversal is 36.58).



BKX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 38.93).



HYG/LQD
Bullsih short day (possible hanging man). Held SMA(55). Midpoint above EMA(10). Held its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7513).



USDJPY
Doji day. Midpoint above EMA(10). Tested and failed SMA(55). Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 77.63).



EEM
Bullish short day. Midpoint above EMA(10). Holding above SMA(21). Tested and held its 61.8% minor retrace (38.06). No daily 3LB changes (reversal is 34.36).

IT HAS BEGUN. YOU HAVE BEEN WARNED.