AmenRa's Corner

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

Creditcane™: Time to turn MFM into MDD (Mutual Destruction Monday). Stay tuned.

SPX
Bullish short day (again). Midpoint above EMA(10). Still above all SMA's. New high on daily 3LB (reversal is 1243.91). QE2infinity. Following Sisyphus is not recommended.



DXY
Spinning top day (again). Midpoint above EMA(10). Held the 38.2% retrace at 80.63. Still above SMA(89) & SMA(21). No daily 3LB changes (reversal is 81.19).



VIX
Bearish long day. Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 17.74). Having a house party in the "no fear" zone (for now). Also has a monthly 3LB reversal down.



GOLD
Spinning top day. Still below SMA(21). Midpoint below EMA(10). 0.0% retrace holding. Still below 14.6% retrace (1392.69). No daily 3LB changes (reversal is 1338.80). Must have the precious.



EURUSD
Doji day. Midpoint below EMA(10). Still below its 38.2% retrace at 1.3121. Below all SMA's and barely held the SMA(144). No daily 3LB changes (reversal is 1.3001).



JNK
Bearish short day. Midpoint above EMA(10). Failing the Gann 4x1. Back below the SMA(55). No daily 3LB changes (reversal is 40.30).




10YR YIELD
Spinning top day (again or another day of indecision). The 0.0% fibo retrace at 23.34 has held. Above all SMA's. Still below its 61.8% retrace (33.72). Midpoint above EMA(10). No daily 3LB changes (reversal is 32.36).



CRB
Bullish short day (watch crude goods pricing). Midpoint above EMA(10). Above all SMA's. Made a new 0.0% retrace. Above the Gann 2x1. New high on daily 3LB (reversal is 320.62).



IQI
Bullish long day (confirmed bullish harami). Midpoint below EMA(10). Below all SMA's. Back above its 14.6% retrace (11.74). No daily 3LB changes (reversal is 11.50). I can hear the back room conversation..."MUST PROVE MW WRONG!"



BKX
Bullish long day (Bonuses baby! Bonuses!). Midpoint above EMA(10). Above all SMA's. Made a new 0.0% starting point. New high on daily 3LB (reversal is 50.32).



WTI
Bullish short day. Above all SMA's. Midpoint above EMA(10). Still above the 76.4% retrace at 88.92. New high on daily 3LB (reversal is 88.56).

LEFTBACK'S BOND REPORT

The Bond Report 12.22.10

Today was fairly dull. At the longer end it was slightly risk on, and the TIPS spread continued to widen, so if you were long TIP:short TLT (the Reflator) then you were in business. Seriously, I think they all went home already, to Glencoe and Winnetka, leaving only a few bots trading in Chicago.

Corpies: LQD -0.08%; AGG -0.12%; JNK -0.15%; HYG 0.28%
Govies: TLT -0.71%; IEI -0.16tip%; TIP -0.07%
Hedgies: TBT 1.25%

We spent most of the day indulging in the usual silliness and banter. Long HYG and TIP, with a pinch of LQD. Extra moisture...