AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection



Creditcane™: Did you feel that? Want me to do it again?



SPX
Bearish long day. Midpoint from last Wednesdays candle is still holding strong. Back below the SMA(55). Midpoint below EMA(10). Below the trendline (3/6/09-5/25/10) and the next lower trendline (2/5/10-5/6/10). New low on daily 3LB (reversal is 1089.47). QE2infinity.



DXY
Spinning top day. It's waiting for something. Still below the SMA(144). Midpoint above EMA(10). No test of the 50% retrace or SMA(21). No daily 3LB changes (reversal is 80.60).



VIX
Bullish long day. Midpoint above EMA(10). Still holding below weekly 3LB mid but above monthly 3LB mid. Still below the SMA(89) but above the SMA(144). No daily 3LB changes (reversal is 22.01).



GOLD
Spinning top day. Above all SMA's. Midpoint above EMA(10). Still inching higher (eyeing 1267 area). New high on daily 3LB (reversal is 1225.00).



EURUSD
Bearish short day. Midpoint below EMA(10). Still below 1.2935 (fib .1459) and the 38.2% retrace. And still below the 3x1 Gann. But it's above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal is 1.3231).



JNK
Bearish short day. Not too much "risk on" today. Now below the 61.8% retrace. It has failed to close gap. Still above the SMA(89) and the SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 37.72).



10YR YIELD
Bearish long day. Recent gap is resistance (holding with a vengeance). Actually tested and held the 0.0% fibo retrace at 25.72. Midpoint below EMA(10). Below all SMA's. No daily 3LB changes (reversal is 28.22).



AUDJPY
Spinning top day. Still below the SMA(55). Midpoint below EMA(10). Was heading for the 38.2% retrace at 77.8965. Had a change of mind and tested the 23.6% retrace at 75.5696 (passed). No daily 3LB changes (reversal is 79.1783).



TLT
Bullish long day. Way above all SMA's. Midpoint above EMA(10). Currently the gap is support. New high on daily 3LB (reversal is 102.03).




DJ TRANS AVG
Bearish long day. Now running towards the trendline. Back below the SMA(55) and SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 4452.13).



LEFTBACK'S BOND REPORT

The Bond Report 8.19.10

Another day of risk-off amusement for fixed income punters as yields plunged again after the really shitty Philly Fed number crossed at 10am. The 10y hit a low of 2.557% and the 30y 3.622%. This move reversed the morning's mild curve steepener and 2s10s finished at 210 bps.

Early in the day, IG and USTs were outperforming massively but HY made a strong comeback by the end of the day. Spreads widened at the long end and were fairly stable at the shorter end.

Corpies: LQD 0.11%; AGG 0.32%; JNK -0.20%; HYG -0.21%;
Govies: TLT 1.56%; IEI 0.18%; TIP 0.00%

We watched and waited this time, which was a good idea, and then we hedged in early afternoon. The yield on the long bond can't go down every day. Can it?


22 comments:

Leftback said...

TLT parabola - Gaps get filled, right?

CV said...

@LB

The universe expands forever???

My question is... INTO WHAT?

Leftback said...

The enormous vacancy that is Larry Summers should suffice....

B22 said...

check this out, I thought it was really interesting:

http://www.youtube.com/watch?v=jq--75v4lI8&feature=email

nothing to do with markets at all.

CV said...

@b22

That was really cool...

Wes said...

LBGDF

Wes said...

Long Bond, that is...

Lord John said...

I watched it too Ben, very moving, thanks.

Ben22 said...

I think what caught me is what she said about snapping 1,000 pictures in her mind when she looks at someone's face.

I have a cousin that is autistic, beautiful kid, she calls me Tim (my Dad's name) every time she sees me, he passed several years ago and I only see her maybe a couple times a year when I go home to visit. That made me jump back a bit when the girl said that about looking at faces. Though my cousin hasn't seen him in years, she still must remember my Dad's face very well.

AmenRa said...

Ben

That was inspiring. I have a couple of cousins who are autistic.

Nic said...

GREAT avatar CV

Nic said...

S&P - can anyone else see two equal swings down from here to the May 25th low?
That's what I am looking at.

Wes said...

we are going to 950...

not in a straight line, of course...

...by Oct...to give a time frame

Anonymous said...

Roger Clemens-

takes guts to get up in front of congress and lie out your ass- I mean he could have responded w/ more evasive answers-

but it sure shows limited intelligence

Anonymous said...

and one of the most beautiful sounds in the world- especially in the morning-

http://www.balaams-ass.com/alhaj/calltoprayer.htm

Anonymous said...

and Intel buying McAfee???

c'mon man!

I don't get it

Andy T said...

ben.

thanks for sharing that video. that's wild stuff...

karen said...

Ben! I feel enthralled and enlightened by Carly! What a breath of amazement.. I hope everyone I share it with feels as good as I do after watching it.. Thank you!

Andy, whenever I see that avatar I am convinced it's the real you! Hilarious. Hope you don't really smoke, tho..

Ahab @ 9:47.. you have such a way with words.. gotta luv ya : )

karen said...

Oh, that was a relief.. I had no idea what avatar I left off with!!

Anonymous said...

Just for a contrary viewpoint on bonds from a bloke whose macro views I have enjoyed reading in the past

http://www.atimes.com/atimes/Global_Economy/GA05Dj01.html

So, as usual I'm like a deer frozen in the headlights having read the exact opposite sentiments from Rosie this morning.

Bertie

B22 said...

dollar.....

Anonymous said...

Well its my bedtime now, have fun today all, Bertie

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