Morning Corner 11.9.11

XLU (weekly info)
-no change (above mid)
trend=up
high= 35.01
rev= 33.96; mid= 34.49


Looks like return of capital is still first and foremost as XLU continues to push higher. It's above all SMA's. It's above the monthly 3LB mid. It's still making new highs on the weekly 3LB.



XRT (weekly info)
-no change (above mid)
trend=down
high= 43.83
rev= 54.44; mid= 49.14


Amazingly XRT is still strong as consumers are finding ways to buy things. It's above all SMA's. It's above the weekly & monthly 3LB mids. The move higher does appear to be slowing (which is not good for the holiday season).

AmenRa's Corner

...can prevent market melt ups based on BS rumors.

Creditcane™: Trying to find a way to end low volume melt ups.

SPX
Bullish long day (didn't confirm hanging man). Midpoint above EMA(10). Tested and held SMA(233). Held above the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Still above monthly & daily 3LB mids.



DXY
Bearish long day. Midpoint above EMA(10). Tested and held the 50.0% retrace (76.55). Tested and failed SMA(21) & SMA(55). No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.



VIX
Bearish long day. Midpoint below EMA(10). Failing SMA(21). Tested and failed its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). Escaped the grip of the "fear" zone.



GOLD
Bearish thrusting day. Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (1792.10). Still above all SMA's. No daily 3LB changes (reversal is 1594.80). Must have the precious.



EURUSD
Bullish long day (ha ha). Midpoint below EMA(10). Tested and failed SMA(21). Held above its 38.2% minor retrace (1.3713). No daily 3LB changes (reversal is 1.4201).



JNK
Doji day. Midpoint above EMA(10). Held above SMA(89). Held above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Bullish short day (day 5 of not closing gap). Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 23.95).



WTI
Bullish short day. Tested and held SMA(233). Midpoint above EMA(10). Holding above its 38.2% retrace (92.96). New high on dally 3LB (reversal is 94.07). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Holding above SMA(21). Midpoint above EMA(10). Tested and failed its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(89). Holding above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Bullish short day (didn't confirm hanging man). Tested and held SMA(21). Midpoint above EMA(10). Holding above its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Bearish short day. Midpoint above EMA(10). Failing SMA(144). Tested and failed its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts. Still waiting and waiting and waiting.



EEM
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 50.0% retrace (41.81). No daily 3LB changes (reversal is 39.16).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.8.11

GOLD (weekly info)
-no change (above mid)
trend=no
direction=down (2 bars)
low= 1622.30
rev= 1876.90; mid= 1749.60

Last week the trend in gold decided to turn bullish by closing above the weekly 3LB mid. It also closed above its 38.2% minor retrace. It's also back above all SMA's.



AUDJPY (weekly info)
new high 0.8080
trend=up
high= 0.8080
rev= 0.7400; mid= 0.7740


It appears that there was quite a bit of volatility in this cross last week. This week the direction is down so the highs last week will become a distant memory. It couldn't hold the SMA(21) or SMA(55). It's also rejecting the 38.2% retrace.

AmenRa's Corner

Creditcane™: I'm watching the game. Let me know when the markets are ready to reflect reality.

SPX
Hanging man day again. Midpoint above EMA(10). Tested and held SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Still above monthly & daily 3LB mids.



DXY
Bullish short day. Midpoint above EMA(10). Tested and failed the 61.8% retrace (77.27). Held above SMA(21). No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.



VIX
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Failing its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). Escaped the grip of the "fear" zone.



GOLD
Bullish long day (confirmed bearish thrusting). Midpoint above EMA(10). Held its 38.2% retrace (1714.40). Now above all SMA's. New high on daily 3LB (reversal is 1594.80). Must have the precious.



EURUSD
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 38.2% minor retrace (1.3713). No daily 3LB changes (reversal is 1.4201).



JNK
Bearish short day (barely confirming previous dragonfly doji). Midpoint above EMA(10). Held above SMA(89). Held above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Bearish short day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). New low on daily 3LB (reversal is 23.95).



WTI
Bullish short day. Tested and held SMA(144). Midpoint above EMA(10). Tested and held its 38.2% retrace (92.96). New high on dally 3LB (reversal is 93.96). Not confirming the monthly 3LB reversal down.



SILVER
Bullish short day. Holding above SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bullish short day. Midpoint above EMA(10). Held above SMA(21). Held above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Dragonfly doji day (or a hanging man POV). Tested and held SMA(55). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Doji day. Midpoint above EMA(10). Failing SMA(144). Tested and matched its 38.2% minor retrace (78.074). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts. Still waiting and waiting.



COPPER
Doji day. Midpoint above EMA(10). Tested and failed SMA(55). Holding below its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.449).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Week Ahead Post: Fall Back Ed.

Hello All,

Due to some time constraints, only one new slide on the S&P 500.  From Slide #2:

"Due to another weekend away from home, this will be the only new slide for this update.  The market did reverse strongly at 1296.  The severity of the decline suggests the b-wave lower has become.  1264 looks like decent short term resistance as the 61.8% retrace of the decline.  So far, the fall from 1296 is NOT impulsive looking, which is consistent with the b-wave theory. If this is a b-wave forming, it should be choppy/grinding move lower.  I like the idea of being short  S&P 500 at these levels, looking for a move down to near 1119.   A break above 1264 would cause me to trim shorts.  A break above 1296 would cause me to exit all shorts and a reevaluation."

So, "Short 'em if you got em."


Market Commentary 6NOVT11



Addendum:

What happens when 90 years old is "middle aged?"

Saw this intriguing video about science and regrowing human body parts....