AmenRa's Corner

Creditcane™: You can feel me in the room. You can only see me in the corner of your eyes.

SPX
Doji day. Midpoint below EMA(10). Tested and held SMA(89). Failing the 38.2% retrace (1241.13). New low on daily 3LB (reversal is 1284.59). QE2infinity. Further below monthly & daily 3LB mids.



DXY
Hanging man day. Midpoint above EMA(10). Tested and failed the 61.8% minor retrace (78.16). Holding above all SMA's. No daily 3LB changes (reversal is 77.26). Not confirming the monthly 3LB reversal up…yet.



VIX
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone is strong.



GOLD
Spinning top day (possible bullish harami). Midpoint below EMA(10). Tested and held its 38.2% retrace (1714.40). Still below SMA(21,55,89). No daily 3LB changes (reversal is 1639.80). Must have the precious.



EURUSD
Bullish short day. Midpoint below EMA(10). Failing all SMA's. Still failing its 61.8% minor retrace (1.3596). No daily 3LB changes (reversal is 1.3707).



JNK
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and held (barely) its 38.2% retrace (37.62). No daily 3LB changes (reversal is 39.51).



10YR YIELD
Spinning top day. Tested and failed SMA(55). Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 22.32).



WTI
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 50.0% retrace (97.35). No dally 3LB changes (reversal is 97.79). Not confirming the monthly 3LB reversal down.



SILVER
Bullish short day. Failing SMA(21). Midpoint below EMA(10). Tested and held its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.58).



BKX
Spinning top day (possible bullish harami). Midpoint below EMA(10). Failing SMA(55). Tested and held its 50.0% minor retrace (37.51). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Bearish short day. Tested and held SMA(55). Midpoint below EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(55). Failing its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 75.70).



EEM
Bearish short day. Midpoint below EMA(10). Failing all SMA's. Still failing its 38.2% retrace (40.13). No daily 3LB changes (reversal is 42.80).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.18.11

FT MIB (weekly info)
-no change (above mid)
trend=no
direction=up (2 bars)
high= 16553.55
rev= 13664.91; mid= 15159.23

Amazingly Italy's index seems to be holding up (for now). It's still below all SMA's. It's below the monthly 3LB mid. It's below the 38.2% minor retrace. Go figure.



ATHEN (weekly info)
-no change (below mid)
trend=down
low= 744.37
rev= 880.08; mid= 812.23


Greece is itching to break to new lows. It's testing its 0.0% retrace. It's below all SMA's. It's making another new weekly low. I don't think the next tranche is going to help that much.



IBEX (weekly info)
-no change (below mid)
trend=up
high= 9224.40
rev= 8141.90; mid= 8683.15


Spain has turned down (kind of obvious if you watch their bond yields). It's now below all SMA's. it's testing its 50.0% minor retrace. It's below the weekly 3LB mid. The MACD appears ready to break below zero.

AmenRa's Corner

Creditcane™: I have "Groundhog Day" on repeat.

SPX
Bearish long day. Midpoint below EMA(10). Tested and held SMA(89). Failing the 38.2% retrace (1241.13). New low on daily 3LB (reversal is 1285.09). QE2infinity. Further below monthly & daily 3LB mids.



DXY
Spinning top day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (78.16). Holding above all SMA's. New high on daily 3LB (reversal is 77.26). Not confirming the monthly 3LB reversal up…yet.



VIX
Bullish short day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone is strong.



GOLD
Bearish long day. Midpoint below EMA(10). Tested and held its 38.2% retrace (1714.40). Back below SMA(21,55,89). No daily 3LB changes (reversal is 1639.80). Must have the precious.



EURUSD
Spinning top day. Midpoint below EMA(10). Failing all SMA's. Still failing its 61.8% minor retrace (1.3596). New low on daily 3LB (reversal is 1.3707).



JNK
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and held (barely) its 38.2% retrace (37.62). Daily 3LB reversal down (reversal is 39.51).



10YR YIELD
Spinning top day. Tested and failed SMA(55). Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 22.32).



WTI
Bearish long day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% retrace (101.73). No dally 3LB changes (reversal is 97.79). Not confirming the monthly 3LB reversal down.



SILVER
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.58).



BKX
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and failed its 50.0% minor retrace (37.51). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Spinning top day. Tested and held SMA(55). Midpoint below EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Bearish short day. Midpoint below EMA(10). Tested and held SMA(55). Failing its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts.



AUDJPY
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(55). Now below all SMA's. Failing the 38.2% retrace (0.7841). No daily 3LB changes (reversal is 0.8231).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.17.11

HYG (weekly info)
-no change (above mid)
trend=up
high= 90.12
rev= 85.21; mid= 87.67


HYG has finally broken below its weekly 3LB mid. It's testing its SMA(13). Not really weak just yet but is did take out the lows from the last two weeks.



LQD (weekly info)
-no change (below mid)
trend=up
high= 115.60
rev= 112.59; mid= 114.10


You would think that LQD should be screaming higher with the weakness in the market. Unless IG is not so IG. Need to keep an eye on this. It's below its weekly 3LB mid (and very close to the reversal). It's testing its SMA(13).



TED Spread (weekly info)
new high 0.4370
trend=up
high= 0.4370
rev= 0.3880; mid= 0.4125


The TED Spread has taken off like a rocket. Considering the US rates are at/near zero and the EU is coming unglued then this is expected. It's above its 38.2% minor retrace and the high from June 2010.

AmenRa's Corner

Creditcane™: Funny what happens when the curtain gets pulled back.

SPX
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Back below monthly & daily 3LB mids.



DXY
Spinning top day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (78.16). Holding above all SMA's. New high on daily 3LB (reversal is 76.03). Not confirming the monthly 3LB reversal up…yet.



VIX
Bullish short day (sellers were rejected). Midpoint above EMA(10). Tested and held SMA(89). Holding above its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone is strong.



GOLD
Bearish short day. Midpoint above EMA(10). Failing its 61.8% minor retrace (1792.10). Still above all SMA's. No daily 3LB changes (reversal is 1639.80). Must have the precious.



EURUSD
Spinning top day. Midpoint below EMA(10). Failing all SMA's. Now failing its 61.8% minor retrace (1.3596). New low on daily 3LB (reversal is 1.3940).



JNK
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(55). Failing its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Spinning top day. Tested and failed SMA(55). Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 22.32).



WTI
Bullish long day. Above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% retrace (101.73). New high on dally 3LB (reversal is 97.79). Not confirming the monthly 3LB reversal down.



SILVER
Bearish short day. Holding above SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bearish short day. Midpoint below EMA(10). Failing SMA(21). Tested and failed its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Bearish short day. Tested and held SMA(55). Midpoint below EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(21). Failing its 61.8% minor retrace (77.497). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts.



COPPER
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 61.8% minor retrace (3.452). No daily 3LB changes (reversal is 3.706).

IT HAS BEGUN. YOU HAVE BEEN WARNED.