AmenRa's Corner

"...is there no help for the widow's son?"

Creditcane™: My plane was hijacked and ruined my surprise visit to the exchanges.

SPX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1264.31). QE2infinity. Still above weekly 3LB mid and back above the monthly 3LB mid.



DXY
Spinning top day. Midpoint above EMA(10). Tested and failed the 38.2% minor retrace (78.71). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Confirming the monthly 3LB reversal up.



VIX
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Now 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
Spinning top day. Midpoint below EMA(10). Tested and failed its 38.2% retrace (1718.10). Tested and held SMA(55). No daily 3LB changes (reversal is 1643.50). Must have the precious.



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



JNK
Bullish short day. Midpoint above EMA(10). Holding above SMA(89). Failing its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.30).



10YR YIELD
Bullish long day. Tested and held SMA(21). Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 19.39).



WTI
Bullish short day. Tested and held SMA(21). Midpoint below EMA(10). Failing its 61.8% retrace (101.74). No dally 3LB changes (reversal is 101.28). Not confirming the monthly 3LB reversal down.



SILVER
Bullish short day. Failing SMA(21,55). Midpoint below 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). Holding above SMA(89). Tested and held its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Bullish long day. Tested and held SMA(144). Midpoint above EMA(10). Tested and held its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7557).



USDJPY
Bearish short day. Midpoint below EMA(10). Holding above SMA(21). Tested and failed its 50.0% minor retrace (77.740). No daily 3LB changes (reversal is 75.70).



DD (Du Pont)
trend=no
direction=up (1 bar)
high= 49.36
rev= 39.97; mid= 44.67


DD held its 38.2% retrace this week. It also held its weekly 3LB mid. Yes, it's an engulfing candle but we're not in an uptrend (mostly sideways). Doesn't appear ready to go down just yet but the wedge may force a decision soon.

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 12.9.11

NFLX (weekly info)
-no change (below mid)
trend=down
low= 63.60
rev= 113.18; mid= 88.39


These last two weeks have not made any progress in stopping the downtrend. The small body candles indicate that there is no resolve by the bulls to push NFLX higher. It's below all SMA's. It's below the 61.8% minor retrace which was the last support before testing the 100.0% retrace.



SODA (weekly info)
-no change (below mid)
trend=down
low= 28.53
rev= 33.05; mid= 12.87


Where did this move in SODA come from? It is confirming the bullish harami pattern on the weekly chart. It's back above SMA(13). It has moved enough to cause a weekly 3LB reversal up (1 more day but it should hold). It had enough of testing the 100.0% retrace and is moving away in a hurry.



TSLA (weekly info)
-no change (above mid)
trend=up
high= 33.64
rev= 28.05; mid= 30.85


After four weeks of sideways trading Tesla drops quickly. An analyst dropped the price target from $70 to $44 and cut it from overweight to underweight. Unlike GM has there been any reported fires due to battery design? It's still above all SMA's. It's only testing the weekly 3LB mid. It's still above the 38.2% retrace.

Tesla Model S
160/230/300 mile battery options. Yes I know, the US power grid isn't ready.

AmenRa's Corner

Creditcane™: My plane arrived early. So I went to work asap.

SPX
Bearish long day. Midpoint above EMA(10). Tested and failed SMA(144). Tested and failed the 38.2% retrace (1241.13). Daily 3LB reversal down (reversal is 1264.31). QE2infinity. Back below weekly 3LB mid and the monthly 3LB mid.



DXY
Bullish short day. Midpoint above EMA(10). Tested and held the 38.2% minor retrace (78.71). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Confirming the monthly 3LB reversal up.



VIX
Bullish long day. Midpoint above EMA(10). Holding above SMA(144). Tested and held its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has stuck again.



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



EURUSD
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).



JNK
Bearish short day. Midpoint above EMA(10). Holding above SMA(89). Failing its 50.0% retrace (38.24). Daily 3LB reversal down (reversal is 38.30).



10YR YIELD
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 19.39).



WTI
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and failed its 61.8% retrace (101.74). Dally 3LB reversal down (reversal is 101.28). Not confirming the monthly 3LB reversal down.



SILVER
Bearish long day. Tested and failed SMA(21,55). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.65).



BKX
Bearish long day. Midpoint above EMA(10). Holding above SMA(89). Tested and failed its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Bearish short day. Holding above SMA(21,55,89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7557).



USDJPY
Bearish short 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
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 38.2% minor retrace (118.79). No daily 3LB changes (reversal is 122.58).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 12.8.11

EUFN (weekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 13.82
rev= 18.27; mid= 16.05

The EUFN (MSCI EU Financials) made a decent move last week (rumors) but didn't close above the weekly 3LB mid. It's trying to hold the mid this week. It tested and is failing the 61.8% minor retrace. It made it above SMA(13) but hasn't touched SMA(21). Swimming against the current.



XLF (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 14.05
rev= 11.68; mid= 12.87

XLF has bested SMA(13) and SMA(21) this week. Last week it closed above the 38.2% retrace and is still holding above it. So far this week the weekly candle doesn't look too promising.

AmenRa's Corner

Creditcane™: I'm taking the red-eye for my Friday arrival.

SPX
Spinning top day. Midpoint above EMA(10). Holding above SMA(144). Holding above the 38.2% retrace (1241.13). New high on daily 3LB (reversal is 1246.96). QE2infinity. Still above weekly 3LB mid and the monthly 3LB mid.



DXY
Spinning top day. 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). Not confirming the monthly 3LB reversal up.



VIX
Doji day. Midpoint below EMA(10). Tested and held SMA(144). Holding above 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
Bullish short 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 below EMA(10). Still failing all SMA's. Tested and held its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).



JNK
Bearish short day. Midpoint above EMA(10). Holding above SMA(89). Failing its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.88).



10YR YIELD
Bearish long day. Tested and failed SMA(55). Midpoint above EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 19.39).



WTI
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% retrace (101.74). No dally 3LB changes (reversal is 100.36). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Tested and failed SMA(55). 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 bearish harami - duh). Midpoint above EMA(10). Holding above SMA(89). Holding above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).



HYG/LQD
Bearish short day. Holding above SMA(21,55,89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7557).



USDJPY
Bearish short 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).



EEM
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Tested and failed its 38.2% retrace (40.13). No daily 3LB changes (reversal is 36.10).

IT HAS BEGUN. YOU HAVE BEEN WARNED.