AmenRa's Corner

...can prevent market melt ups based on phony NFP numbers.

Creditcane™: How'd that NFP excitement work out for you?

SPX
Shooting star day. Midpoint above EMA(10). Tested and failed SMA(144). Holding above the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1158.67). QE2infinity. Still above weekly 3LB mid but below monthly 3LB mid.



DXY
Bullish short day (confirmed morning star). Midpoint below EMA(10). Tested and held the 50.0% minor retrace (78.43). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Confirming the monthly 3LB reversal up.



VIX
Bullish short day. Midpoint below EMA(10). Failing SMA(144). Tested and held its 61.8% retrace (26.16). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has been eliminated (for now).



GOLD
Spinning top day. Midpoint above EMA(10). Holding above its 38.2% retrace (1716.70). Tested and held SMA(21). No daily 3LB changes (reversal is 1643.50). Must have the precious.



EURUSD
Spinning top day. Midpoint above EMA(10). Still failing all SMA's. Holding above its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).



JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 38.2% retrace (37.62). New high on daily 3LB (reversal is 36.43). Last three days form a hanging man.



10YR YIELD
Bearish long day. Tested and failed SMA(89). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 19.39).



WTI
Bullish short day. Still above all SMA's. Midpoint above EMA(10). Failing its 61.8% retrace (101.74). New high on dally 3LB (reversal is 96.92). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Still failing all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.65).



BKX
Bullish short day (didn't confirm hanging man or bearish harami). Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Spinning top day. Holding above SMA(21,89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7466).



USDJPY
Bullish short day. Midpoint above EMA(10). Holding above SMA(21). Tested and held its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70).



DJ TRANS AVG
Bullish short day. Holding above SMA(144). Midpoint above EMA(10). Tested and failed its 38.2% retrace (4966.03). New high on daily 3LB (reversal is 4533.44).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 12.2.11

XLY (weekly info)
-no change (above mid)
trend=down
low= 34.25
rev= 39.65; mid= 36.95


Last week XLY closed lower. Guess those products aren't on the X-Mas list. This week its back above SMA(55) and the monthly 3LB mid. But its well off the high for the week.



XLP (weekly info)
-no change (below mid)
trend=up
high= 31.55
rev= 29.54; mid= 30.55


XLP didn't do to well last week either. Probably says more about the actual Black Friday than the MSM reports. Anyway, this week its back above all SMA's and appears to be making a new weekly high.



3 mth vs Overnite Libor Spread (daily info)
-no change (above mid)
trend=up
high= 0.384
rev= 0.; mid= 0.374


It's still messed up out there. Doesn't appear the cross currency swap did that much to close the spread.

AmenRa's Corner

Creditcane™: After yesterday this is the best you can do? Now I need to make another visit to the exchanges.

SPX
Spinning top day (possible evening star). Midpoint above EMA(10). Tested and failed SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1158.67). QE2infinity. Still above weekly 3LB mid but below monthly 3LB mid.



DXY
Spinning top day (possible morning star). Midpoint below EMA(10). Tested and failed the 50.0% minor retrace (78.43). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Failing to confirm the monthly 3LB reversal up.



VIX
Doji day. Midpoint below EMA(10). Tested and failed SMA(144). Failing its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has been eliminated (for now).



GOLD
Spinning top day (possible evening star but candle body didn't gap). Midpoint above EMA(10). Holding above its 38.2% retrace (1716.70). Tested and failed SMA(21). No daily 3LB changes (reversal is 1643.50). Must have the precious.



EURUSD
Bullish short day. Midpoint above EMA(10). Still failing all SMA's. Holding above its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).



JNK
Bullish short day (still closed lower). Midpoint above EMA(10). Tested and held SMA(55). Tested and held its 38.2% retrace (37.62). No daily 3LB changes (reversal is 36.43).



10YR YIELD
Spinning top day. Tested and failed SMA(89). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (21.37). New high on daily 3LB (reversal is 19.39).



WTI
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Failing its 61.8% retrace (101.74). No dally 3LB changes (reversal is 96.17). Not confirming the monthly 3LB reversal down.



SILVER
Doji day. Still failing all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.65).



BKX
Hanging man day (possible bearish harami also). Midpoint above EMA(10). Tested and failed SMA(21). Tested and held its 50.0% minor retrace (37.51). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Spinning top day. Holding above SMA(21,89). Midpoint above EMA(10). Tested and held its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7466).



USDJPY
Spinning top day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70).



NFP (monthly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 36k
rev= 431k; mid= 224.5k

We're approaching the apex of the triangle. 135k is the high line and 85k is the low line. A break of either will probably say a lot about where we are headed.

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 12.1.11

GOLD (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 1626.00
rev= 1880.60; mid= 1753.30

That slight move lower just got vaporized with the CB intervention. Back above SMA(13). Retesting the weekly 3LB mid and 38.2% minor retrace. Shine on my brother, shine on.



COPPER (weekly info)
-no change (below mid)
trend=down
low= 3.152
rev= 4.003; mid= 3.578


This down move for the last four weeks has been almost completely wiped out. But are things any better? It's back above SMA(13) and the 61.8% retrace.


NFP (monthly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 36k
rev= 431k; mid= 224.5k

We're approaching the apex of the triangle. 135k is the high line and 85k is the low line. A break of either will probably say a lot about where we are headed.

AmenRa's Corner

The original crew:

The Fed, ECB, Bank of Japan, Bank of England

and the new inductees:

Swiss National Bank, Bank of Canada and two new members still being initiated.

Creditcane™: I went to kick in the door at the exchanges and broke both feet.

SPX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21,55,89,144). Tested and held the 38.2% retrace (1241.13). New high on daily 3LB (reversal is 1158.67). QE2infinity. Back above weekly 3LB mid but below monthly 3LB mid.



DXY
Bearish long day (confirmed hanging man). Midpoint above EMA(10). Tested and failed the 50.0% minor retrace (78.43). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Failed to confirm the monthly 3LB reversal up.



VIX
Doji day. Midpoint below EMA(10). Tested and failed SMA(144). Failing its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has been eliminated.



GOLD
Bullish long day. Midpoint above EMA(10). Tested and held its 38.2% retrace (1716.70). Tested and held SMA(21). No daily 3LB changes (reversal is 1643.50). Must have the precious.



EURUSD
Bullish long day. Midpoint below EMA(10). Failing all SMA's. Tested and held its 100.0% retrace (1.3350) again. No daily 3LB changes (reversal is 1.3511).



JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21,55,89). Tested and held its 38.2% retrace (37.62). Daily 3LB reversal up (reversal is 36.43).



10YR YIELD
Spinning top day. Tested and held SMA(21,55). Midpoint above EMA(10). Holding above its 0.0% retrace (18.96). New high on daily 3LB (reversal is 18.79).



WTI
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% retrace (101.74). New high on dally 3LB (reversal is 96.17). Not confirming the monthly 3LB reversal down.



SILVER
Bullish short day. Still failing all SMA's. Midpoint above EMA(10). Tested and held its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.65).



BKX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21,55). Tested and held its 50.0% minor retrace (37.51). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Bullish short day. Holding above SMA(21,89). Midpoint above EMA(10). Tested and held its 38.2% retrace (0.7808). New high on daily 3LB (reversal is 0.7466).



USDJPY
Bearish long day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70).



TLT
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 38.2% minor retrace (118.79). Daily 3LB reversal down (reversal is 122.58).

IT HAS BEGUN. YOU HAVE BEEN WARNED.