AmenRa's Corner 5/21/13




Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.


SPX
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Tested and held the 0.0% retrace (1667.47). New high on daily 3LB (reversal is 1650.34). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.



DXY
Doji day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (84.00). Still above all SMA's. No dally 3LB changes (reversal is 83.22).



VIX
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21,55). Still failing its 61.8% minor retrace (16.45). Daily 3LB reversal up (reversal is 12.45).



GOLD
Bearish short day. Midpoint below EMA(10). Holding above its 0.0% retrace (1335.10). Still below all SMA's. No daily 3LB changes (reversal is 1586.70). Must have the precious.



EURUSD
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 38.2% retrace (1.3145). No daily 3LB changes (reversal is 1.2973).



JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21). Still failing its 0.0% retrace (41.86). No daily 3LB changes (reversal is 41.94).



10YR YIELD
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% minor retrace (19.37). No daily 3LB changes (reversal is 19.00).



WTI
Bearish short day. Still above all SMA's. Midpoint above EMA(10). Holding above its 61.8% minor retrace (94.30). No dally 3LB changes (reversal is 94.50).



SILVER
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (22.60). No daily 3LB changes (reversal is 24.19).



BKX
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 0.0% retrace (61.70). New high on daily 3LB (reversal is 60.51).



HYG/LQD
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Holding above its 38.2% retrace (0.7907). New high on daily 3LB (reversal is 0.7908).



COPPER
Spinning top day. Midpoint above EMA(10). Tested and failed SMA(55). Tested and held its 38.2% minor retrace (3.322). No daily 3LB changes (reversal is 3.080).



AAPL
Spinning top day. Tested and held SMA(21,55). Midpoint below EMA(10). Still failing its 61.8% retrace (463.72). Still failing BB(2,200). No daily 3LB changes (reversal is 463.84).



GSCI
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(144). Tested and failed its 38.2% retrace (31.71). No daily 3LB changes (reversal is 30.05).



IWM
Doji day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 0.0% retrace (99.07). New high on daily 3LB (reversal is 98.20).







IT HAS BEGUN. YOU HAVE BEEN WARNED.

5 comments:

AmenRa said...

Bernanke:

Recognizing the drawbacks of persistently low rates, the FOMC actively seeks economic conditions consistent with sustainably higher interest rates. Unfortunately, withdrawing policy accommodation at this juncture would be highly unlikely to produce such conditions. A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further. Such outcomes tend to be associated with extended periods of lower, not higher, interest rates, as well as poor returns on other assets. Moreover, renewed economic weakness would pose its own risks to financial stability.

Because only a healthy economy can deliver sustainably high real rates of return to savers and investors, the best way to achieve higher returns in the medium term and beyond is for the Federal Reserve--consistent with its congressional mandate--to provide policy accommodation as needed to foster maximum employment and price stability. Of course, we will do so with due regard for the efficacy and costs of our policy actions and in a way that is responsive to the evolution of the economic outlook.

AmenRa said...

...and away we go.

Does a bear cry in the woods if no one is around to see? Damn right they do.

AmenRa said...

Ben speaks. 10yr shoots to over 2%. Ben shuts up. 10yr back down to 1.975%.

AmenRa said...

10yr successfully overcomes the 2% resistance.

Bears are partying all over Wall Street.

Hope this isn't a setup for a monster squeeze into the holiday and month end. Just sayin'

AmenRa said...

New.

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