AmenRa's Corner

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

"I let that bull get away. Now what will I eat?"

Creditcane™: I'll bet that didn't feel like the market closed higher. Did it?

SPX
Inverted hammer day. Midpoint below EMA(10). Failing SMA(55). Holding above trend line (3/6/09-7/1/10). Holding above the 38.2% minor retrace (1312.78). No daily 3LB changes (reversal is 1307.41). QE2infinity. Also still below the daily 3LB mid.



DXY
Bearish long day (confirmed bearish harami). Midpoint above EMA(10). Tested and failed the 38.2% retrace (75.83). Tested and held SMA(21). Held its weekly 3LB mid. No daily 3LB changes (reversal is 74.79).



VIX
Bullish short day (another hanging man freed). Midpoint above EMA(10). Still above all SMA's. Above its 61.8% minor retrace (18.56). No daily 3LB changes (reversal is 21.32). Escaped out of the "no fear" zone.



GOLD
Bullish long day. Midpoint above EMA(10). Tested and held its 0.0% retrace (1570.70). Above all SMA's. New high on daily 3LB (reversal is 1480.90). Holding above upper trend line. Must have the precious.



EURCHF
Bearish short day. Midpoint below EMA(10). Tested and failed its 0.0% retrace (1.1643). Failing all SMA's. New low on daily 3LB (reversal is 1.1894).



JNK
Spinning top day (ugly confirmation of morning star). Midpoint above EMA(10). Failing SMA(233). Tested and held its 50.0% retrace (40.00). Below trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 40.39).



10YR YIELD
Bearish engulfing day (in a downtrend no less). Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (29.56). Further below the upper trend line. New low on daily 3LB (reversal is 31.97).



WTI
Bullish short day (confirmed bullish engulfing). Held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (97.62). No dally 3LB changes (reversal is 91.02).



SILVER
Bullish long day. Tested and held SMA(55). Midpoint above EMA(10). Still below the upper trend line. Tested and held its 50.0% retrace (37.94). Daily 3LB reversal up (reversal is 33.60).



BKX
Spinning top day (not a good morning star confirmation). Midpoint below EMA(10). Failing all SMA's. Failing its 38.2% minor retrace (47.20). No daily 3LB changes (reversal is 46.64).



HYG/LQD
Bullish engulfing day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and held its 61.8% retrace (0.8128). No daily 3LB changes (reversal is 0.8332).



TLT
Bullish short day. Midpoint above EMA(10). Holding above all SMA's. Trading above its upper trend line. Tested and failed its 0.0% retrace (97.39). New high on daily 3LB (reversal is 95.37).

IT HAS BEGUN. BE WARNED.