AmenRa's Corner 5.17.12




Creditcane™: FB can not, will not, never will save you from my wrath.


SPX
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Failing the 61.8% minor retrace (1343.55). New low on daily 3LB (reversal is 1338.35). QE2infinity.
DXY
Spinning top day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (81.50). Still above all SMA's. New high on daily 3LB (reversal is 80.61). Still above weekly 3LB mid.
VIX
Bullish long day. Midpoint above EMA(10). Now above all SMA's. Holding above its 38.2% minor retrace (21.62). New high on daily 3LB (reversal is 21.87).
GOLD
Bullish long day. Midpoint below EMA(10). Failing its 61.8% retrace (1598.10). Failing all SMA's. No daily 3LB changes (reversal is 1584.00). Still below its monthly 3LB mid. Must have the precious.
EURUSD
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 0.0% retrace (1.2782). New low on daily 3LB (reversal is 1.2845).
JNK
Bearish long day. Midpoint below EMA(10). Now failing all SMA's. Tested and failed its 50.0% retrace (38.824). New low on daily 3LB (reversal is 39.23).
10YR YIELD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (17.76). New low on daily 3LB (reversal is 17.88).
WTI
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (94.65). New low on dally 3LB (reversal is 94.78). Still below the monthly 3LB mid.
SILVER
Bullish long day. Still failing all SMA's. Midpoint below EMA(10). Failing its 61.8% minor retrace (30.00). No daily 3LB changes (reversal is 28.89).
BKX
Bearish long day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 50.0% retrace (43.76). New low on daily 3LB (reversal is 45.20).
HYG/LQD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (0.7592). New low on daily 3LB (reversal is 0.7841).
COPPER
Bearish short day (inverted hammer…probably not). Midpoint below EMA(10). Failing all SMA's. Failing its 38.2% retrace (3.660). New low on daily 3LB changes (reversal is 3.554).
AAPL
Bearish long day. Tested and failed SMA(89). Midpoint below EMA(10). Still failing its 61.8% minor retrace (563.20). New low on daily 3LB (reversal is 558.22).
BAC
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Holding above its 50.0% minor retrace (6.90). New low on daily 3LB (reversal is 7.35).
30YR YIELD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (30.39). New low on daily 3LB (reversal is 29.49).




IT HAS BEGUN. YOU HAVE BEEN WARNED.


Gold/Swiss Franc
trend=up
high= 1650.04
rev= 1358.43; mid=1504.23

Gold/Euro
trend=down
low= 1181.05
rev= 1328.19; mid=1254.62

Gold/Silver
trend=up
high= 54.783
rev= 52.824; mid= 53.804
AUDJPY
trend=no
direction=down (2 bars)
low= 0.7981
rev= 0.8765; mid=0.8373

16 comments:

AmenRa said...

NH/NL= 0.10
A/D= 0.38
VU/VD= 0.13

Extremes?

AmenRa said...

Spain 10yr 6.33%
Italy 10yr 5.98%
Portugal 12.07%
Greece 10yr 29.08%
http://markets.ft.com/RESEARCH/Markets/Government-Bond-Spreads

b22 said...

"Ben, .... If you look at gold in swiss francs it looks much, much closer to a normal triangle completion."

@Steve, I'm going to take a look at that, thanks for the thought. As I recall you had given this bearish outlook for gold "for several months" quite a while back after having rode up that last leg, wish I could remember exactly when you posted that but I seem to think it was near/at the highs

very nice job man, you nailed that call

AmenRa said...

10% down from high is 1280.14 which is just below the SMA(55) at 1286.52. The trendline (3/9/09-8/12/11) is around 1287. Funny that all of these supports are around the same level.

AmenRa said...

Added weekly Gold/Swiss Franc, Gold/Euro and Gold/Silver charts.

AmenRa said...

& the weekly AUDJPY

AmenRa said...

Funny how the IPO is set for 11AM EST seeing that the EU close is 30 min after that. Must be trying to restart the market move higher at the EU close (which has been the mantra the past few weeks).

AmenRa said...

SPY option pain is 138 so market makers need something to happen or they'll be paying out a ton of money today.

Andy T said...

Facebook baby....

AmenRa said...

Hee hee. Market turned down right at 11am. Sold to you.

AmenRa said...

A FB break of $38 will translate into a market free fall. That doesn't include more bad new from the EU.

Andy T said...

Wet blanket on the Fbook party...

Underwriters had to bid the shit at 38...

nice.

Steve said...

AmenRa, thanks for the Gold/CHF chart.

It's the weeks after the Sept high that I think formed into a triangle.

Ben, thanks. However, I put all my gains into a FB market order at the open :)

AmenRa said...

WTH sent EURUSD spiking? The algos are confused. Whoever controls the algos better find the "off" button or they'll get caught in a unexpected position.

AmenRa said...

CNBS must be bewildered by FB. After all of the hype and brown nosing the FB IPO closed almost flat. What are they (or the so called experts) supposed to do now since people aren't buying the BS anymore?

AmenRa said...

new post

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