AmenRa's Corner

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

I think the bears are listening to this: Let's Go Dancin'

Creditcane™: I stretched even more in the morning trade warming up for the afternoon run.

SPX
Bearish long day. Midpoint below EMA(10). Now below all SMA's (all in one day). Holding above trend line (3/6/09-7/1/10). Failed the 38.2% minor retrace (1314.25). New low on daily 3LB (reversal is 1353.22). QE2infinity. Also below weekly & monthly 3LB mids.



DXY
Bullish harami day. Midpoint below EMA(10). Tested and held its 0.0% retrace (73.51). Still below all SMA's. Failing its weekly 3LB mid. No daily 3LB changes (reversal is 75.75).



VIX
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Left its 38.2% retrace (20.28) in the dust as it gapped higher and closed above its 50.0% retrace (21.67). Daily 3LB reversal up (reversal is 15.87). Another escape from the "no fear" zone.



GOLD
Spinning top day. Midpoint above EMA(10). Tested and failed its 0.0% retrace (1624.30). Still above all SMA's. No daily 3LB changes (reversal is 1590.10). Holding above upper trend line. Must have the precious.



EURCHF
Bearish long day. Midpoint below EMA(10). Holding its 0.0% retrace (1.1467) and failing its 38.2% minor retrace (1.1726). Failing all SMA's. New low on daily 3LB (reversal is 1.1732).



JNK
Bearish long day. Midpoint below EMA(10). Now below all SMA's (see SPX). Failed its 61.8% retrace (40.20). No test of 38.2% minor retrace (40.45). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.86).



10YR YIELD
Bullish short day. Tested and failed SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (29.56). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).



WTI
Bearish long day. Tested and failed SMA(55). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (97.98). No dally 3LB changes (reversal is 97.25).



SILVER
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Tested and failed its 38.2% retrace (40.69). No daily 3LB changes (reversal is 39.08).



BKX
Bearish long day (really confirming hanging man). Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (47.20) and 50.0% minor retrace (46.69). No daily 3LB changes (reversal is 48.32).



HYG/LQD
Spinning top day. Tested and failed SMA(21) & SMA(55). Midpoint below EMA(10). Tested and failed its 38.2% retrace (0.8201). No daily 3LB changes (reversal is 0.8329).



XRT
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 0.0% retrace (54.72). Daily 3LB reversal down (reversal is 55.00).

IT HAS BEGUN. BE WARNED.