AmenRa's Corner 5.8.12




Creditcane™: There should have been more pain.


SPX
Hammer day (higher close would be better signal). Midpoint below EMA(10). Tested and held SMA(89). Tested and held the 50.0% minor retrace (1357.98). No daily 3LB changes (reversal is 1419.04). QE2infinity.
DXY
Bullish short day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (79.60). Tested and held SMA(89). No daily 3LB changes (reversal is 80.08). Still below weekly 3LB mid.
VIX
Spinning top day (w/volatility). Midpoint above EMA(10). Tested and held SMA(21,89). Tested and held its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 20.39).
GOLD
Bearish long day. Midpoint below EMA(10). Tested and held its 61.8% retrace (1598.10). Failing all SMA's. New low on daily 3LB (reversal is 1645.50). Still below its monthly 3LB mid. Must have the precious.
EURUSD
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 38.2% minor retrace (1.3057). No daily 3LB changes (reversal is 1.3465).
JNK
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held 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). Failing its 0.0% retrace (18.96). New low on daily 3LB (reversal is 19.15).
WTI
Bearish short day. Tested and failed SMA(233). Midpoint below EMA(10). Failing its 50.0% retrace (99.04). New low on dally 3LB (reversal is 101.91). Still below the monthly 3LB mid.
SILVER
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (29.92). New low on daily 3LB (reversal is 30.60).
BKX
Bearish short day. Midpoint below EMA(10). Failing SMA(55). Still failing its 38.2% minor retrace (49.10). No daily 3LB changes (reversal is 49.00).
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
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Failing its 50.0% retrace (3.846). New low on daily 3LB (reversal is 3.829).
AAPL
Bearish short day. Failing SMA(55). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (563.20). No daily 3LB changes (reversal is 560.28).
RBOB Gasoline
Spinning top day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 38.2% retrace (3.02). No daily 3LB changes (reversal is 3.08).




IT HAS BEGUN. YOU HAVE BEEN WARNED.

28 comments:

AmenRa said...

Calling BIS. Calling BIS. EURUSD moving lower from 1.3000.

Calling SNB. Calling SNB. EURCHF having trouble staying above the peg at 1.2000.

Overnight action should be interesting.

Andy T said...

Neely sent out a note saying that the sp500 was heading to 1300 minimum....m
Support down at 1200. Just sayin.

AmenRa said...

EURCHF intervention at 12:00-12:05 as it jumped to 1.2065 from 1.2006.

BinT said...

au 1584 this morning...with the 10 year 1.84..

looks like this correction may last a while..

BinT said...

4 home runs and a double in 5 at bats..

AmenRa said...

Spain's 10yr over 6%.

AmenRa said...

I'm curious about the US 10yr auction later today. With yields this low how much will the PD's have to buy?

AmenRa said...

MUST...NOT..TAKE..OUT...YESTERDAYS...LOW...

BinT said...

looks like 10 year may end in the 1.7's...

Japan 24/7 is the actual light in the tunnel..

AmenRa said...

BinT

10yr testing its weekly 3LB reversal (down) at 18.08.

AmenRa said...

SPX Mar lows about to be obliterated.

Anonymous said...

http://finviz.com/quote.ashx?t=BZQ

soon, no longer a 'teenager'..

ibid.

BinT said...

http://www.cbsnews.com/8301-503544_162-57430719-503544/4-in-10-choose-convict-over-obama-in-w.va-primary/?tag=exclsv

40% of the democratic primary chose a convict over Obama? Huh?

AmenRa said...

Over $14 up from the lows in under an hour. Someone needed a change of underwear at the Treasury. This move brought the 10yr yield above 1.825%. They must have gotten word that PDs & DBs were thinking about avoiding the auction.

AmenRa said...

BAC protecting the rising window (gap up) from 7.49-7.63. If that closes then support is 6.41 (Jan 12 low) & 6.48 (38.2% minor retrace).

AmenRa said...

Even though we have this intraday move higher declines > advances, new lows > new highs, vol down > vol up & VIX +3.5%.

Andy T said...

Shocker.

S&P500 bounces in front of key support zone (1338-1340)

AmenRa said...

Look at the final minute push in the market to get the 10yr yield higher before the auction ends.

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

Hee hee: Carlyle Falls Below Offer Price as Rubenstein Plan Fails http://www.bloomberg.com/news/2012-05-09/carlyle-shares-fall-below-22-ipo-price-on-fifth-day-of-trading.html

AmenRa said...

10yr auction results

B2C 2.90 prev 3.08
HY 1.855% prev 2.043%
PD 45.48% prev 50.51%
DB 15.79% prev 10.99%
IB 38.73% prev 38.49%
Announced 24.0B prev 21.0B
Accepted 23.977B prev 20.991B

AmenRa said...

Otra vez VIX +5%, declines > advances, new lows > new highs, vol down > vol up. Doesn't appear the lie is convincing enough.

Andy T said...

RA-

How would you characterize those back to back daily candles on the SP500.

Isn't in weird to get back to back "hammers" like that.

AmenRa said...

CIC Stops Buying Europe Government Debt on Crisis Concern
http://www.bloomberg.com/news/2012-05-09/china-investment-stops-buying-europe-debt-on-crisis-concern-1-.html

China Investment Corp. has stopped buying European government debt because of an economic crisis on the continent, though it continues to look for new investments there, said CIC President Gao Xiqing.

“What is happening in Europe right now is of course of concern,” Gao said today in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.”

AmenRa said...

Andy T

Not really weird. Just shows that the bulls are desperate and do a lot of buying to stay above the lows. Now a hammer with a green (higher close) body would give me pause if bearish.

AmenRa said...

Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern

quote:
"The only thing funnier than a nationalization statement spun as positive, or favorable for taxpayers, is one that has been Google translated, in this case from Spanish, courtesy of Bank of Spain, which has just formally bailed out Bankia, leaving the best for last: "In any case, BFA-Bankia is a solvent entity that continues to function quite normally and customers and depositors should have no concern." Move along. Nothing to see here. Nobody should be concerned."

AmenRa said...

Andy T

The last ten minutes changed the SPX from a hammer to a short day as the tail needs to be 2-3x the size of the body.

AmenRa said...

nuevo.

Post a Comment

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.