MLK Day Open Thread

Markets Closed in honor of Martin Luther King Jr.

Will have some Scrib'd thoughts later this afternoon.

"...But there is something that I must say to my people, who stand on the warm threshold which leads into the palace of justice: In the process of gaining our rightful place, we must not be guilty of wrongful deeds. Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred. We must forever conduct our struggle on the high plane of dignity and discipline. We must not allow our creative protest to degenerate into physical violence. Again and again, we must rise to the majestic heights of meeting physical force with soul force...."

Classic.
~~~~~~~~~
Market Commentary 16Jan12

AmenRa's Corner 1.13.12

Creditcane™: Sovereign downgrades are one of my specialities.

SPX
Hanging man day. Midpoint above EMA(10). Still above all SMA's. Tested and held the minor 61.8% retrace (1286.32). No daily 3LB changes (reversal is 1281.06). QE2infinity. Confirmed the weekly 3LB reversal up.



DXY
Bullish long day. Midpoint above EMA(10). Tested and held the 0.0% retrace (81.38). Still above all SMA's. New high on daily 3LB (reversal is 80.94).



VIX
Inverted hammer day (which ironically confirmed the inverted hammer). Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (21.62). No daily 3LB changes (reversal is 23.52).



GOLD
Bearish long day. Midpoint above EMA(10). Failing its 50.0% retrace (1655.20). Holding above SMA(21). No daily 3LB changes (reversal is 1620.10). Still above monthly 3LB mid. Must have the precious.



EURUSD
Bearish long day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 0.0% retrace (1.2777). New low on daily 3LB (reversal is 1.2792).



JNK
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21). Holding above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.94).



10YR YIELD
Bearish long day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (18.96). No daily 3LB changes (reversal is 20.68).



WTI
Spinning top day. Tested and failed SMA(21). Midpoint below EMA(10). Failing its 61.8% retrace (101.94). New low on dally 3LB (reversal is 103.22). Not confirming the monthly 3LB reversal down.



SILVER
Bearish long day. Holding above SMA(21). Midpoint above EMA(10). Tested and failed its 61.8% minor retrace (29.76). Daily 3LB reversal down (reversal is 30.12).



BKX
Hanging man day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% retrace (41.37). No daily 3LB changes (reversal is 42.08). Had a weekly 3LB reversal up.



HYG/LQD
Bearish long day. Tested and failed SMA(55). Midpoint below EMA(10). Failing its 38.2% retrace (0.7808). New low on daily 3LB (reversal is 0.7908).



COPPER
Doji day. Midpoint above EMA(10). Holding above SMA(89). Tested and failed its 38.2% retrace (3.684). No daily 3LB changes (reversal is 3.267).



EURCHF
Spinning top day. Midpoint below EMA(10). Failing its 50.0% retrace (1.2233). Tested and failed SMA(21). No daily 3LB changes (reversal is 1.1957).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

AmenRa's Corner 1.12.12

Creditcane™: I'm getting SOPA'd.

SPX
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held the minor 61.8% retrace (1286.32). New high on daily 3LB (reversal is 1281.06). QE2infinity. Still confirming the weekly 3LB reversal up.



DXY
Bearish long day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (81.38). Still above all SMA's. No daily 3LB changes (reversal is 80.59).



VIX
Inverted hammer day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (21.62). New low on daily 3LB (reversal is 23.52). The grip of the "fear" zone has been eliminated (for now).



GOLD
Bullish short day. Midpoint above EMA(10). Tested and failed its 50.0% retrace (1655.20). Holding above SMA(21). New high on daily 3LB (reversal is 1620.10). Still above monthly 3LB mid. Must have the precious.



EURUSD
Bullish long day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.2777). No daily 3LB changes (reversal is 1.2944).



JNK
Bearish short day. Midpoint above EMA(10). Holding above SMA(144). Holding above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.94).



10YR YIELD
Bullish short day. Tested and failed SMA(21). Midpoint below EMA(10). Holding above its 0.0% retrace (18.96). No daily 3LB changes (reversal is 20.68).



WTI
Bearish short day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and failed its 61.8% retrace (101.94). Dally 3LB reversal down (reversal is 103.22). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Holding above SMA(21). Midpoint above EMA(10). Holding above its 61.8% minor retrace (29.76). New high on daily 3LB (reversal is 29.58).



BKX
Bullish short day. Midpoint above EMA(10). Still above al SMA's. Holding above its 38.2% retrace (41.37). New high on daily 3LB (reversal is 42.08). Also is above its weekly 3LB reversal price.



HYG/LQD
Bearish short day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and held its 38.2% retrace (0.7808). Daily 3LB reversal down (reversal is 0.7908).



AUDJPY
Spinning top day. Midpoint above EMA(10). Tested and held SMA(55). Tested and held the 38.2% retrace (0.7841). No daily 3LB changes (reversal is 0.8231).



EURCHF
Spinning top day. Midpoint below EMA(10). Failing its 50.0% retrace (1.2233). Tested and failed SMA(21). No daily 3LB changes (reversal is 1.1957).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

AmenRa's Corner 1.11.12

The true (and only) sell side investing theory.
(hat tip AAIP)

Creditcane™: I'm putting in the work but they refuse to pay me.

SPX
Doji day. Midpoint above EMA(10). Still above all SMA's. Tested and held the minor 61.8% retrace (1286.32). New high on daily 3LB (reversal is 1277.30). QE2infinity. Now confirming the weekly 3LB reversal up.



DXY
Bullish short day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (81.38). Still above all SMA's. New high on daily 3LB (reversal is 80.59).



VIX
Bearish short day. Midpoint below EMA(10). Failing all SMA's. Holding above its 50.0% minor retrace (20.22). No daily 3LB changes (reversal is 23.52). The grip of the "fear" zone has been eliminated (for now).



GOLD
Bullish short day. Midpoint above EMA(10). Holding above its 61.8% retrace (1592.30). Holding above SMA(21). New high on daily 3LB (reversal is 1612.70). Back above monthly 3LB mid. Must have the precious.



EURUSD
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 0.0% retrace (1.2777). New low on daily 3LB (reversal is 1.2944).



JNK
Bearish short day. Midpoint above EMA(10). Holding above SMA(144). Holding above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.94).



10YR YIELD
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Holding above its 0.0% retrace (18.96). No daily 3LB changes (reversal is 20.68).



WTI
Bearish short day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% retrace (101.94). No dally 3LB changes (reversal is 99.68). Not confirming the monthly 3LB reversal down.



SILVER
Doji day. Holding above SMA(21). Midpoint above EMA(10). Tested and held its 61.8% minor retrace (29.76). New high on daily 3LB (reversal is 28.74).



BKX
Bullish long day. Midpoint above EMA(10). Still above al SMA's. Holding above its 38.2% retrace (41.37). New high on daily 3LB (reversal is 41.71). Also is above its weekly 3LB reversal price.



HYG/LQD
Bearish short day. Tested and held SMA(21). Midpoint abelow EMA(10). Holding above its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7818).



USDJPY
Bullish short day. Midpoint below EMA(10). Still failing all SMA's. Failing its 61.8% minor retrace (77.393). No daily 3LB changes (reversal is 75.52).



EUFN
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21). Failing its 38.2% minor retrace (15.38). No daily 3LB changes (reversal is 15.84).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

AmenRa's Corner 1.10.12

Creditcane™: Call me Dangerfield. The cane get no respect. Damn you invisible hand.

SPX
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Tested and held the minor 61.8% retrace (1286.32). New high on daily 3LB (reversal is 1277.06). QE2infinity. Now confirming the weekly 3LB reversal up.



DXY
Spinning top day (confirmed dark cloud cover). Midpoint above EMA(10). Tested and failed the 0.0% retrace (81.02). Still above all SMA's. No daily 3LB changes (reversal is 80.24).



VIX
Bullish short day. Midpoint below EMA(10). Failing all SMA's. Tested and held its 50.0% minor retrace (20.22). No daily 3LB changes (reversal is 23.52). The grip of the "fear" zone has been eliminated (for now).



GOLD
Bullish long day. Midpoint above EMA(10). Holding above its 61.8% retrace (1592.30). Tested and held SMA(21). New high on daily 3LB (reversal is 1600.50). Must have the precious.



EURUSD
Spinning top day (confirmed bullish piercing). Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.2777). No daily 3LB changes (reversal is 1.2953).



JNK
Spinning top day. Midpoint above EMA(10). Holding above SMA(144). Holding above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.94).



10YR YIELD
Spinning top day. Tested and held SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (18.96). No daily 3LB changes (reversal is 20.68).



WTI
Bullish short day. Still above all SMA's. Midpoint above EMA(10). Tested and held its 61.8% retrace (101.94). No dally 3LB changes (reversal is 99.68). Not confirming the monthly 3LB reversal down.



SILVER
Bullish long day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 61.8% minor retrace (29.76). New high on daily 3LB (reversal is 27.24).



BKX
Bullish long day. Midpoint above EMA(10). Still above al SMA's. Holding above its 38.2% retrace (41.37). New high on daily 3LB (reversal is 40.81).



HYG/LQD
Bearish short day. Holding above SMA(21). Midpoint above EMA(10). Holding above its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7818).



EEM
Spinning top day. Midpoint above EMA(10). Holding above SMA(55). Holding above its 61.8% minor retrace (38.06). No daily 3LB changes (reversal is 36.10).



COPPER
Bullish long day. Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 61.8% minor retrace (3.463). No daily 3LB changes (reversal is 3.615).



~~~~~~~~
AT Quick Glimpse at SP500 (60 Min) with RSI Divergence

IT HAS BEGUN. YOU HAVE BEEN WARNED.