AmenRa's Corner 5.10.12

"It's too late. There is no escape."


Creditcane™: I almost created the market close from hell.


SPX
Bullish short day. Midpoint below EMA(10). Tested and failed SMA(89). Tested and held the 50.0% minor retrace (1357.98). No daily 3LB changes (reversal is 1416.51). QE2infinity.
DXY
Bearish short day. Midpoint above EMA(10). Tested and held the 50.0% minor retrace (79.96). Still above all SMA's. New high on daily 3LB (reversal is 78.71). Still above weekly 3LB mid.
VIX
Spinning top day (w/volatility). Midpoint above EMA(10). Still above all SMA's. Tested and held its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 20.39).
GOLD
Spinning top day. Midpoint below EMA(10). Tested and failed its 61.8% retrace (1598.10). Failing all SMA's. No daily 3LB changes (reversal is 1645.10). Still below its monthly 3LB mid. Must have the precious.
EURUSD
Bullish short day. Midpoint below EMA(10). Still failing all SMA's. Failing its 38.2% minor retrace (1.3057). New low on daily 3LB (reversal is 1.3341).
JNK
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Tested and failed its 38.2% minor retrace (39.62). No daily 3LB changes (reversal is 39.33).
10YR YIELD
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested an failed its 0.0% retrace (18.96). Daily 3LB reversal up (reversal is 18.35).
WTI
Spinning top day (didn't confirm hammer). Still failing all SMA's. Midpoint below EMA(10). Failing its 50.0% retrace (99.04). New low on dally 3LB (reversal is 97.94). Still below the monthly 3LB mid.
SILVER
Bearish short day (didn't confirm dragonfly doji). Still failing all SMA's. Midpoint below EMA(10). Failing its 61.8% minor retrace (29.92). New low on daily 3LB (reversal is 30.01).
BKX
Bullish short day. Midpoint below EMA(10). Holding above SMA(89). Holding above its 61.8% retrace (46.14). No daily 3LB changes (reversal is 48.87).
HYG/LQD
Spinning top day. Tested and failed SMA(21,144). Midpoint below EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7676).
COPPER
Spinning top day. Midpoint below EMA(10). Tested and held SMA(144). Tested and held its 38.2% retrace (3.660). No daily 3LB changes (reversal is 3.736).
AAPL
Bearish short day. Failing SMA(55). Midpoint below EMA(10). Holding above its 61.8% minor retrace (563.20). No daily 3LB changes (reversal is 560.28).




IT HAS BEGUN. YOU HAVE BEEN WARNED.


22 comments:

AmenRa said...

JPM...oops my bad.

AmenRa said...

Trading notes: To confirm a hammer is to not just close higher but close above the high of the hammer.

Anonymous said...

AmenRa,

as per, nice Chartage/Wrappage ..~

AAIP

~~

this..
http://finviz.com/quote.ashx?t=SGI

Inst Own 91.89% Short Float 26.68%

hes to be (one of) "The Chart of the Week"

Random Weblog Speeling Officer said...

"hes", was to be "has"

Matthew said...

The JPM conference call was amusing.

We heard about that whale in London months ago, but there was all of this false bravado about how JPM wouldn't have to unwind the positions because they were long term hedges and the company would ride out the volatility.

Well, once some fast money started leaning on the other side of those trades, JPM bailed and unwound what it could in a market that couldn't bear the weight of the position unwinding that quickly.

The most shameful thing about it all was how Jamie Dimon threw his traders under the bus on the conference call when it was well known that he had personal involvement in that gambling operation.

He lost in his own casino. That is very serious egg on his face.

AmenRa said...

Matthew

Businessweek 4/19/12: http://www.businessweek.com/videos/2012-04-09/jpmorgan-traders-swap-bets

ZeroHedge 4/13/12: http://www.zerohedge.com/news/why-jpms-chief-investment-office-worlds-largest-prop-trading-desk-fact-and-fiction

AmenRa said...

Denver is putting on a clinic.

Anonymous said...

ol' Natty, back on 'the Hunt'..

http://quotes.ino.com/chart/index.html?s=NYMEX_NG.N12.E&t=&a=&w=&v=d12

ibid.

Andy T said...

JPMorgan....

Nice.

The whale was on a "heater"...he couldn't get off the table.

AmenRa said...

TBTF ganging up on shorts since NYSE Short Interest is at its highest levels of the year. They figure more traders went short due to JPM and its a good time to put them in their place.

If the market is rising due to Consumer Sentiment (a BS metric) then f it.

AmenRa said...

Was this market run up into the EU close done in order to help the EU get out of positions before the weekend?

Anonymous said...

TBTF ganging up on shorts since NYSE Short Interest is at its highest levels of the year. They figure more traders went short due to JPM and its a good time to put them in their place.

If the market is rising due to Consumer Sentiment (a BS metric) then f it.
May 11, 2012 10:41 AM
AmenRa said...

Was this market run up into the EU close done in order to help the EU get out of positions before the weekend?
~~~

Can We go w/ A & B ?

ibid.

AmenRa said...

AAIP

Appears reality is again taking hold of the market as it slides lower.

AmenRa said...

Weekly 3LB reversal down confirmation coming up in thirteen minutes (unless they run the market up $13).

Anonymous said...

AmenRa,

looks like '2 of 3' "Major Averages" are going 'Red', into the weekend..
~~~

also, this Chart..

http://finviz.com/quote.ashx?t=AAPL ~566

looks 'broken'..

and, why does it feel like 'Crude' should U$D~40 lower, than it is..?

Crude Oil 95.81 -1.27 -1.31%

ibid.

Anonymous said...

Ra,

I hear ya, tho.. 'Blogger' just wiped-out my Comment..

been Wrong before, will be Wrong, again.. said...

and, then, actually, No..

AmenRa said...

Credit Traders Drive Up Swaps Index Linked to JPMorgan’s Loss
http://www.bloomberg.com/news/2012-05-11/credit-traders-drive-up-swaps-index-linked-to-jpmorgan-s-loss.html

Traders to JPM: "Bend over. It's finally my turn.

AmenRa said...
This comment has been removed by the author.
AmenRa said...

Euro FX
Changes in Commitments from:
May 1,2012 :
OI 43,339
Non Commercial
long 1,663 short 39,813 spreading 15
Commercial
long 40,195 short 499
Total
long 41,873 short 40,327

Hmmmmm....

AmenRa said...

EMINI S&P
Changes in Commitments from:
May 1, 2012
OI 64,501
Non Commercial
long -9,423 short 28,072 spreading 5,352
Commercial
long 60,805 short 32,095
Total
long 56,734 short 65,520

Wonder how that worked out for them this week.

AmenRa said...

Nuevo.

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