AmenRa's Corner

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

Creditcane™: I came. I saw. I didn't conquer. But I'm not done yet.

SPX
Spinning top day again. Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above all SMA's. Above 1110.02 (the .09 fibo from high) and no test of 1151.86 (the .0557 fibo from high). No daily 3LB changes (reversal is 1125.07). QE2infinity.



DXY
Bearish long day (aka whoosh!). Way below all SMA's. Midpoint below EMA(10). Well below its 61.8% retrace at 79.72. Now below 78.41 (.0557 from low). New low on daily 3LB (reversal is 79.34).



VIX
Inverted hammer day. Will it get confirmation? Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89).



GOLD
Bullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1298.60).



EURUSD
Bullish long day. Midpoint above EMA(10). 50% retrace is in the past and now approaching its 61.8%. Above all SMA's. New high on daily 3LB (reversal is 1.3471).



JNK
Dragonfly doji day (which confirmed hanging man). Above all SMA's. Midpoint above EMA(10). Above the 85.4% retrace. No daily 3LB changes (reversal is 39.65).



10YR YIELD
Spinning top day (which confirmed inverted hammer). The 0.0% fibo retrace at 24.69 has held. Still below the weekly 3LB mid (27.60) and all SMA's. Midpoint below EMA(10). No daily 3LB changes (reversal is 27.95).



AUDJPY
Spinning top day. Held its 61.8% retrace. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 79.5441).



DJ TRANS AVG
Spinning top day (second lower close also). Holding above the upper trend line and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4475.12).



WTI
Bullish long day forming the three white soldiers pattern. Back above the SMA(144). Midpoint above the EMA(10). New high on daily 3LB (reversal is 77.90).

LEFTBACK'S BOND REPORT

The Bond Reportzzzzzzz 10.01.10

It wasn't a very interesting day.

Corpiez: ZZZ z.zz%; ZZZ 0.24%; JNK 0.20%; HYG 0.15%;
Goviez: ZZZ 0.68%; ZZZ 0.20%; TIP 0.70%
Hedgiez: ZZZ zzzzz%

We are long JNK, HYG and short the long bond. We are fearful for the P/L of recent fixed income inwestors. Too much complacency in bond land regarding the inevitability of QE2, deflation and anything bond-friendly.

Await future opportunities and sit on your wonga, is our advice.

Risk is high.