AmenRa's Corner

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

Creditcane™: Doesn't Massacre Mondays sound better?

SPX
Bearish short day. 1.79% 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 1079.25). QE2infinity.



DXY
Bullish short day. Dollar flexing its strength. Back above the SMA(144). Midpoint above EMA(10). New high on daily 3LB (reversal is 82.64).



VIX
Hanging man day. Failed to confirm bullish thrusting. Midpoint above EMA(10). Still holding below weekly 3LB mid and monthly 3LB mid. Still below the SMA(89) but above the SMA(144). No daily 3LB changes (reversal is 25.39).



GOLD
Doji day. Still above all SMA's. Midpoint above EMA(10). Trying to hold onto gains. No daily 3LB changes (reversal is 1225.00).





EURUSD
Bearish short day. Midpoint below EMA(10). Tested the 23.6% retrace. Also failed the 4x1 Gann. It's above the trendline (11/27/09-3/17/10). New low on daily 3LB (reversal is 1.2822).



JNK
Bearish short day. Held the 61.8% retrace. It has failed to close gap. Still above the SMA(89) and the SMA(144). Midpoint above EMA(10). No daily 3LB changes (reversal is 37.72).



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



YEN (FXY)
Bearish short day. Still above all SMA's. Midpoint above EMA(10). Above the 14.6% retrace. New high on daily 3LB (reversal is 115.96). BoJ?



DJ TRANS AVG
Bearish short day. Failed the trendline and the SMA(233). Below the SMA(55) and SMA(144). Midpoint below EMA(10). New low on daily 3LB (reversal is 4262.24).



GS
Bearish short day. Failed the SMA(144). Midpoint below the EMA(10). Slowly inching lower. New low on daily 3LB (reversal is 148.08).

LEFTBACK'S BOND REPORT

The Bond Report 8.23.10

IG outperformed HY on a quiet day. The belly of the curve was front run as traders anticipated the POMO tomorrow.

Corpies: LQD 0.21%; AGG 0.10%; JNK -0.13%; HYG 0.00%;
Govies: TLT 0.02%; IEI 0.17%; TIP 0.00%
Hedgies: TBT -0.06%

Ah, what the hell, who needs analysis - why don't I just do a BLOOMIE today.

BONDS were up on GROWTH CONCERNS....