AmenRa's Corner 9.12.12




Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.


SPX
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed the 0.0% retrace (1432.12). No daily 3LB changes (reversal is 1399.48). QE2infinity.



DXY
Spinning top day. Midpoint below EMA(10). Tested and failed the 38.2% retrace (79.97). Still failing all SMA's. New low on dally 3LB (reversal is 81.12).



VIX
Spinning top day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 17.98).



GOLD
Doji day. Midpoint above EMA(10). Tested and held its 38.2% retrace (1730.90). Still above all SMA's. No daily 3LB changes (reversal is 1687.60). Must have the precious.



EURUSD
Spinning top day. Midpoint above EMA(10). Now above all SMA's. Holding above its 61.8% minor retrace (1.2750). New high on daily 3LB (reversal is 1.2648).



JNK
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% minor retrace (40.10). New high on daily 3LB (reversal is 40.18).



10YR YIELD
Bullish short day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (17.47). New high on daily 3LB (reversal is 16.73).



WTI
Spinning top day. Tested and held SMA(144). Midpoint above EMA(10). Holding above its 38.2% retrace (95.94). No dally 3LB changes (reversal is 97.26).



SILVER
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (32.15). No daily 3LB changes (reversal is 31.44).



BKX
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% minor retrace (49.10). New high on daily 3LB (reversal is 48.51).



HYG/LQD
Bullish short day. Now above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% minor retrace (0.7765). Daily 3LB reversal up (reversal is 0.7630).



COPPER
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.503).



AAPL
Bullish short day. Tested and held SMA(21). Midpoint above EMA(10). Still failing its 0.0% retrace (680.87). No daily 3LB changes (reversal is 680.44).







IT HAS BEGUN. YOU HAVE BEEN WARNED.


Dear Bernanke...

5 comments:

qqqqtrader said...

anyone run out and get (another) iPhone?

iPhone... ""THE thinnest, lightest, fastest iPhone ever... best thing to happen to it since the iPhone was introduced!""

(until the next one comes out in 6 months... pfft)

... was wondering how many of the 46MM+ peeps on SNAP are going to go out and buy the new iPhone?

SPX... correction soon?

AmenRa said...

Release Date: September 13, 2012

For immediate release

Information received since the Federal Open Market Committee met in August suggests that economic activity has continued to expand at a moderate pace in recent months.  Growth in employment has been slow, and the unemployment rate remains elevated.  Household spending has continued to advance, but growth in business fixed investment appears to have slowed.  The housing sector has shown some further signs of improvement, albeit from a depressed level.  Inflation has been subdued, although the prices of some key commodities have increased recently. Longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.  The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions.  Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook.  The Committee also anticipates that inflation over the medium term likely would run at or below its 2 percent objective.

To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month.  The Committee also will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities.  These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
 
The Committee will closely monitor incoming information on economic and financial developments in coming months.  If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability.  In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens.  In particular,

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H. Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen.  Voting against the action was Jeffrey M. Lacker, who opposed additional asset purchases and preferred to omit the description of the time period over which exceptionally low levels for the federal funds rate are likely to be warranted.

AmenRa said...

The Fed needs to stay the f#*k out of the way and allow the market to purge the bad investments/businesses.

AmenRa said...

UNSTERILIZED QE. More printing with no where to go but risk assets. Got gold?

AmenRa said...

New.

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