AmenRa's Corner 9.27.12




Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.


SPX
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21). Still failing the 0.0% retrace (1463.76). No daily 3LB changes (reversal is 1432.12). QE2infinity. Stlll below the trend line.



DXY
Bearish 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
Bearish long day. Midpoint above EMA(10). Tested and failed SMA(21,55). Holding above its 0.0% retrace (14.27). No daily 3LB (reversal is 13.88).



GOLD
Bullish long day. Midpoint above EMA(10). Holding above its 38.2% retrace (1730.90). Still above all SMA's. New high on daily 3LB (reversal is 1772.10). Must have the precious.



EURUSD
Bullish 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
Bullish long day (completed morning star?). Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.77).



10YR YIELD
Doji day. Tested and held SMA(55,89). Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 18.70).



WTI
Bullish long day. Tested and held SMA(89). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (90.52). No dally 3LB changes (reversal is 92.30).



SILVER
Bullish long 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 32.41).



BKX
Bullish short day. Midpoint below EMA(10). Tested and held SMA(21). Holding above its 38.2% minor retrace (49.10). No daily 3LB changes (reversal is 51.64).



HYG/LQD
Bullish long day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (0.7678). No daily 3LB changes (reversal is 0.7847).



COPPER
Bullish short 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
Bullish long day. Tested and held SMA(21). Midpoint below EMA(10). Still failing its 0.0% retrace (703.99). No daily 3LB changes (reversal is 701.91).



RBOB Gasoline
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 0.0% retrace (2.93). New high on daily 3LB (reversal is 2.75).







IT HAS BEGUN. YOU HAVE BEEN WARNED.

8 comments:

Matthew said...

Secondary market very liquid today in credit. The Street made a lot of money.

AmenRa said...

Even the gamed Reuters/UoM Consumer Sentiment index was WTE.

AmenRa said...

Matthew

I see that HYG outperformed HYG yesterday. So US credit did ok. But Spain and Italy yields pushed wider. Was that a way of the markets saying they don't believe in Rajoy or Monti anymore?

b22 said...

Ra,

Yesterday Monti was interviewed by Bloom radio, it was on for a quite a while

I had to laugh pretty hard though because when he was done bloomie made the point that several things he said were direct contradiction to what draghi said he wanted

so sure, its not out of the question the market doesn't entirely believe them

AmenRa said...

As if we didn't know this already: http://www.zerohedge.com/news/2012-09-28/spanish-bank-capital-shortfall-good-expected-live-press-conference-webcast
Spanish Bank Capital Shortfall As "Good" As Expected

Spanish stress test results are out. Surprise - Oliver Wyman's audit finds that Spanish banks have an approximate EUR60bn shortfall - as expected - see below for pass/fails.

* *SPAIN SAYS 7 BANKS HAVE NO CAPITAL NEEDS :SAN SM, BBVA SM
* *SPAIN STRESS TESTS SHOW CAPITAL SHORTFALL OF EU59.3 BLN :SAN SM
* *SPAIN BANKS HAVE EU53.7 B CAPITAL SHORTFALL AFTER TAX IMPACT
* *BANKIA STRESS TEST SHORTFALL AFTER TAX EFFECT IS EU24.74 BLN
* *SANTANDER, BBVA, CAIXABANK, KUTXA PASS STRESS TEST :SAN SM
* *SABADELL, BANKINTER, UNICAJA PASS STRESS TEST :SAN SM, BBVA SM

Winners:

* *SANTANDER, BBVA, CAIXABANK, KUTXA PASS STRESS TEST :SAN SM
* *SABADELL, BANKINTER, UNICAJA PASS STRESS TEST :SAN SM, BBVA SM

Losers:

* *NCG BANCO STRESS TEST SHORTFALL AFTER TAX EFFECT EU7.18 BLN
* *IBERCAJA, CAJA3, LIBERBANK STRESS TEST SHORTFALL IS EU2.1 BLN
* *BANCO DE VALENCIA STRESS TEST SHORTFALL IS EU3.5 BLN :SAN SM
* *BANKIA STRESS TEST SHORTFALL AFTER TAX EFFECT IS EU24.74 BLN

The discrete needs of the shortfall banks are as follows:

Bankia: 24.7;

Catalunya Caixa:10.8;

Novagalicia 7.2;

Banco de Valencia: 3.5;

Banco Popular 3.2;

Banco Mare Nostrum: 2.2

AmenRa said...

Odd that finviz.com/news doesn't have ZH articles anymore. They were there yesterday. Just sayin'

AmenRa said...

Funny. The ZH articles just reappeared at finviz.com/news. I have a suspicion as to why.

AmenRa said...

New.

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