AmenRa's Corner

Posted by AmenRa on Thursday, July 8, 2010 /
A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection



Don't ask...



SPX
Bullish short day. 1041.83 (fibo .09 from high) waiting for retest. Still below the SMA(21) and the SMA(233). Midpoint above EMA(10). Back above the trendline using 2010 lows but below the 3/6/09-5/25/10 trendline. New high on daily 3LB (reversal is 1022.58). QE2infinity.



DXY
Bearish short day. Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated. Back below the 76.4% retrace. Tested the 61.8% retrace (passed). No daily 3LB changes (reversal is 84.72).



VIX
Spinning top day. Midpoint below EMA(10). Closed below weekly 3LB mid & monthly 3LB mid. "Fear is here so don't get fooled on market pumps. Repeat ad nauseam." Back below the SMA(55) and the SMA(21). Tested the SMA(89) and passed. No daily 3LB changes (reversal is 45.79).



GOLD
Bearish short day. Below the SMA(21) and below the SMA(55). Midpoint below EMA(10). "To hell with fiat! Say it again! I'm gold and I'm proud!" (Gold's rally cry). No daily 3LB changes (reversal is 1240.70).



EURUSD
Bullish short day. Yesterday was a plastic hammer day. Midpoint above the EMA(10). No test of the fibo .1855 at 1.2336. The test of the 1.1571 (the .236 fibo level) is on hold again. Now above the trendline (11/27/09-3/17/10). New high on daily 3LB (reversal now 1.2557).



JNK
Bullish short day. Tested the 50.0% retrace (passed). Back above the SMA(233) and the SMA(55). Midpoint above EMA(10). No daily 3LB changes (reversal is 39.38).



GS
Hanging man day. Midpoint above the EMA(10). Still no test of the 2.058 fibo (using low) of 144.98. Still wants to test the 1.618 fibo (using low) of 124.12. No daily 3LB changes (reversal is 131.08).



BP
Spinning top day (body too large for doji). The little engine that could. Still above below the 0.0% retrace (using recent low). Midpoint above EMA(10). No daily 3LB changes (reversal is 34.68).



LUMBER
Doji day. Still above the SMA(21). Midpoint above EMA(10). Having trouble retaking the weekly 3LB mid. No daily 3LB (reversal is 183.60).

2 comments:

Andy T said...

If you started the day just 20% of a max short on the SP500, it seems time to add another 10%...go to 30% short and start getting buckled in for a ride....

A break of 1080 on the sp futures would get me 'slightly' perturbed but looking forward to higher prices to sell.

Good luck. AT

July 8, 2010 at 11:35 PM
Nic said...

Thanks AmenRa and thanks Andy :)

July 9, 2010 at 7:42 AM

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