AmenRa's Corner 9.26.12

"Dear Bulls. Don't become him."


Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.


SPX
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing the 0.0% retrace (1463.76). No daily 3LB changes (reversal is 1432.12). QE2infinity. Continuing below the trend line.



DXY
Bullish short day. Midpoint above EMA(10). Tested and failed the 38.2% retrace (79.97). Still failing all SMA's. No dally 3LB changes (reversal is 79.89).



VIX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(55). Holding above its 0.0% retrace (14.27). Daily 3LB reversal up (reversal is 13.88).



GOLD
Bearish short day. Midpoint below EMA(10). Holding above its 38.2% retrace (1730.90). Still above all SMA's. No daily 3LB changes (reversal is 1740.50). Must have the precious.



EURUSD
Bearish short day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 38.2% retrace (1.3127). No daily 3LB changes (reversal is 1.2870).



JNK
Bearish short day. Midpoint below EMA(10). Tested and held SMA(55). Tested and failed its 61.8% minor retrace (40.10). New low on daily 3LB (reversal is 40.77).



10YR YIELD
Bearish short day (didn't confirm inverted hammer)). Tested and failed SMA(55,89). Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). Daily 3LB reversal down (reversal is 18.70).



WTI
Bearish short day. Tested and failed SMA(89). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (90.52). New low on dally 3LB (reversal is 92.30).



SILVER
Bullish short day. Still above all SMA's. Midpoint below EMA(10). Holding above its 38.2% minor retrace (32.15). No daily 3LB changes (reversal is 32.41).



BKX
Bearish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 38.2% minor retrace (49.10). Daily 3LB reversal down (reversal is 51.64).



HYG/LQD
Bearish long day. Now failing all SMA's. Midpoint below EMA(10). Now failing its 38.2% minor retrace (0.7678). Daily 3LB reversal down (reversal is 0.7847).



COPPER
Spinning top day. Midpoint below EMA(10). Still above all SMA's. Holding above its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.688).



AAPL
Spinning top day. Still failing SMA(21). Midpoint below EMA(10). Still failing its 0.0% retrace (703.99). New low on daily 3LB (reversal is 701.91).







IT HAS BEGUN. YOU HAVE BEEN WARNED.

7 comments:

qqqqtrader said...

LOL Ra, that speech was dynamically static!...

I do a driveby each day, sometimes on the phone so don't post because I fat-finger the micro keyboard too much. Not doing much trading but still buying at least 300 shares of VCV each month... doing it for about a year now and the divy has been growing compoundly good. Not sure when/if to pull out though (story of my life!) before TSHTF. But I do remember saying a long time ago this crap can go on for a long, long time... until this time if different.

Anyone have thoughts on silver?

AmenRa said...

http://solari.com/articles/quantitative_easing/
QE3 – Pay Attention If You Are in the Real Estate Market
By Catherine Austin Fitts


I used to have a deputy who said that the FHA mortgage insurance funds were where mortgages went to die. That was, however, before the creation of MERS, derivatives and the explosion of mortgage fraud during the 1990's which in combination with the “strong dollar policy” engineered what I have referred to as a financial coup d’etat.

The challenge for Ben Bernanke and the Fed governors since the 2008 bailouts has been how to deal with the backlog of fraud – not just fraudulent mortgages and fraudulent mortgage securities but the derivatives piled on top and the politics of who owns them, such as sovereign nations with nuclear arsenals, and how they feel about taking massive losses on AAA paper purchased in good faith.

AmenRa said...

qqqq

Hard to comment about silver until it takes out its high from March 2012. But it's trending up on the weekly 3LB and making a confirming high on the monthly 3LB.

AmenRa said...

Another bout of JTOL. What if Romney's goal is to fire Bernanke and appoint someone who doesn't want to save the banks? The resulting calamity would be a goldmine to Bain Capital.

AmenRa said...

This hope filled market (aka futures higher) won't last. Durable goods -13.18%, ex Def -12.36, ex Trans -1.56%, NDCGEA 1.12%. Initial claims BTE at 359k but previous revised up to 385k.

Germany has stated that the banking union shouldn't cover existing bad debts. Oops EU banks thought they could slip this by them.

AmenRa said...

Ever since 4/30/12 when VXX finally crossed above VIX the market has been weird.

AmenRa said...

New.

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