AmenRa's Corner

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

"OK, who told the HFT Police where the party was located?"

Creditcane™: C'mon Bears. I gave you the perfect opening. You have to learn how to close out the game.

SPX
Bearish harami day (better get confirmed). Midpoint above EMA(10). Above all SMA's. Held above trend line (3/6/09-7/1/10). Holding well above the 38.2% minor retrace (1312.78). No daily 3LB changes (reversal is 1307.41). QE2infinity.



DXY
Bullish short day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (74.94). Now above SMA(89). Held its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).



VIX
Bearish long day. Midpoint below EMA(10). Below all SMA's. Blew through its 38.2% minor retrace (17.51). No daily 3LB changes (reversal is 21.32). Extradited back to the "no fear" zone.



GOLD
Bullish short day (evening star fail). Midpoint above EMA(10). Held its 38.2% minor retrace (1529.89). Easily held SMA(21). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURCHF
Bearish long day (failed bullish harami). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (1.2019). Tested and failed SMA(21). New low on daily 3LB (reversal is 1.2304).



JNK
Bullish long day (yet closed lower). Midpoint above EMA(10). Held SMA(89). Held its 61.8%% retrace (40.20). Held above trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.93).



10YR YIELD
Bearish LONG day. Tested and failed SMA(21). Midpoint above EMA(10). Failed its 38.2% retrace (31.19) and 61.8% minor retrace (30.18). Back below the upper trend line. No daily 3LB changes (reversal is 29.09).



WTI
Bearish engulfing day. Held SMA(21). Midpoint above EMA(10). Tested and failed its 50.0% minor retrace (96.60). No dally 3LB changes (reversal is 91.02).



SILVER
Bullish short day. Held SMA(21). Midpoint above EMA(10). Back above the upper trend line. Held its 61.8% retrace (35.20). No daily 3LB changes (reversal is 37.88).



BKX
Bearish long day (closed gap). Midpoint above EMA(10). Failing SMA(55). Failed its 61.8% retrace (48.82). No daily 3LB changes (reversal is 46.64).



HYG/LQD
Spinning top day. Failed SMA(55). Midpoint above EMA(10). Tested and failed its 50.0% retrace (0.8252). No daily 3LB changes (reversal is 0.8146).



TLT
Bullish harami day. Midpoint below EMA(10). Held SMA(89). Trading below its upper trend line. Tested and failed its 38.2% retrace#1 (94.22). No daily 3LB changes (reversal is 94.88).

IT HAS BEGUN. BE WARNED.

Morning Corner 7.8.11

PSI (weekly info)
-no change (above mid)
trend=up
high= 7765.00
rev= 6727.00; mid= 7246.00


For a country (whose debt is now junk) to not only get back above the 50.0% retrace and its weekly 3LB mid is astounding. I mean, really? Now that the EU is about to ignore debt ratings for Portugal I guess anything is possible. It is failing a test of its SMA(55) & SMA(89) so the move last week might be an aberration.



NFLX (weekly info)
-no change (above mid)
trend=up
high= 273.46
rev= 252.22; mid= 262.84


This week Netflix had it's second real gap higher on the weekly chart. It's interesting that the move higher started in December 2008. That's around the time the market was looking for anything to keep them out of the poorhouse. The fact that they don't have any infrastructure to transport their signal to the customer hasn't affected them…yet. It's obviously above all SMA's and making another weekly 3LB high. It's up 1154.33% since 12/5/08. That's unreal.

AmenRa's Corner

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

"QE or no QE, I run things here Mr. Bear"

Creditcane™: ADP, Initial Claims, NFP. All are touched in some form. The only thing real is the air you breathe. And that may be in question.

SPX
Bullish long day (BS). Midpoint above EMA(10). Above all SMA's. Held above trend line (3/6/09-7/1/10). Holding well above the 38.2% retrace#2 (1312.78). New high on daily 3LB (reversal is 1307.41). QE2infinity.



DXY
Spinning top day (failed three white soldiers). Midpoint above EMA(10). Tested and failed the 61.8% retrace#2 (74.94). Still above SMA(21). Failed test of SMA(89). Holding its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).



VIX
Bullish long day (didn't confirm inverted hammer). Midpoint below EMA(10). Below all SMA's. Tested and held its 0.0% retrace#1 (15.79). No daily 3LB changes (reversal is 21.32). Extradited back to the "no fear" zone.



GOLD
Spinning top day (evening star forming?). Midpoint above EMA(10). Held its 38.2% retrace#2 (1529.89). Tested and held SMA(21). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURCHF
Bullish harami day. Midpoint below EMA(10). Tested and held its 50.0% retrace#2 (1.2083). Tested and held SMA(21). No daily 3LB changes (reversal is 1.2304).



JNK
Bullish long day (another failed hanging man). Midpoint above EMA(10). Held SMA(89). Held its 61.8%% retrace#1 (40.20). Back above trend line (2/5/10-2/12/10). New high on daily 3LB (reversal is 39.93).



10YR YIELD
Spinning top day. Held SMA(55). Midpoint above EMA(10). Held its 38.2% retrace#1 (31.19). Still above the upper trend line. No daily 3LB changes (reversal is 29.09).



WTI
Bullish long day (confirmed bearish thrusting). Held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% retrace#2 (97.62). New high on dally 3LB (reversal is 91.02).



SILVER
Bullish short day. Held SMA(21). Midpoint above EMA(10). Still below the upper trend line. Held its 61.8% retrace#1 (35.20). No daily 3LB changes (reversal is 37.88).



BKX
Bullish long day (confirmed hammer). Midpoint above EMA(10). Tested and held SMA(55). Held its 61.8% retrace#1 (48.82). No daily 3LB changes (reversal is 46.64).



HYG/LQD
Bullish long day. Held SMA(55). Midpoint above EMA(10). Closed at its 61.8% retrace#1 (0.8312). No daily 3LB changes (reversal is 0.8146).



XRT
Bullish long day. Midpoint above EMA(10). Above all SMA's. Now above its 0.0% retrace#1 (54.72). New high on daily 3LB (reversal is 54.44).

IT HAS BEGUN. BE WARNED.

Morning Corner 7.7.11

Gold/Silver Ratio (weekly info)
new high 43.963
trend=up
high= 43.963
rev= 42.420; mid= 43.192


This ratio has been making smaller weekly 3LB highs indicating this move higher is weakening. Currently it is trading below its weekly 3LB reversal price. It has failed to take out the 61.8% retrace#2 (44.787) for the last ten weeks. It's also trading below its 50.0% retrace#2 (42.340). The longer SMA's are starting to point lower. Silver appears to be preparing to make its next move higher.



30Yr Bond (weekly info)
WEEKLY REVERSAL new low 122.750
trend=no
direction=down (1 bar)
low= 122.750
rev= 126.469; mid= 124.610

The long bond rejected the 38.2% retrace#2 (127.113). That rejection sent it below the SMA(21) & SMA(55). This week it's still testing the SMA(55). The week ending 7/1/11 had a weekly 3LB reversal down. It needs to get back to 123.882 (61.8% retrace#2) if it plans to push higher. Also getting back above the weekly 3LB mid would strengthen the move.

AmenRa's Corner

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

Probably should be the crying bear but keeping the bulls in check is worth a dance.

Creditcane™: Still warming the the car for the trip I'm about to take you on.

SPX
Bullish short day (failed to confirm bearish harami..again). Midpoint above EMA(10). Above all SMA's. Failing trend line (3/6/09-7/1/10). Holding well above the 61.8% retrace#1 (1273.65). The secondary retraces aren't in play…yet. No daily 3LB changes (reversal is 1296.67). QE2infinity.



DXY
Bullish long day (day 2 of three white soldiers). Midpoint above EMA(10). Tested and held the 61.8% retrace#2 (74.94). Back above SMA(21). Held its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).



VIX
Inverted hammer day. Midpoint below EMA(10). Below all SMA's. Holding above its 0.0% retrace#1 (15.79). No daily 3LB changes (reversal is 21.32). Extradited back to the "no fear" zone.



GOLD
Bullish long day. Midpoint above EMA(10). Easily held its 38.2% retrace#1 (1489.26) and held its 50.0% retrace#2 (1522.13). Tested and held SMA(21). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.



EURUSD
Bearish long day (day 2 of three black crows). Midpoint below EMA(10). Tested and failed SMA(21). Failing its 61.8% retrace#2 (1.4357). No daily 3LB changes (reversal is 1.4580).



EURCHF
Bearish long day (see EURUSD). Midpoint below EMA(10). Tested and failed its 38.2% retrace#2 (1.2044). Tested and failed its SMA(21). Daily 3LB reversal down (reversal is 1.2304).



JNK
Doji day (confirmed questionable hanging man). Midpoint above EMA(10). Held SMA(233). Failing its 61.8%% retrace#1 (40.20). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.41).



10YR YIELD
Spinning top day. Failed SMA(55). Midpoint above EMA(10). Failed its 38.2% retrace#1 (31.19). Still above the upper trend line. No daily 3LB changes (reversal is 29.09).



WTI
Bearish thrusting day. Tested and held SMA(21). Midpoint above EMA(10). Tested and failed its 61.8% retrace#1 (97.75). No dally 3LB changes (reversal is 90.61).



SILVER
Spinning top day. Tested and held SMA(21). Midpoint above EMA(10). Still below the upper trend line. Tested and held its 61.8% retrace#1 (35.20). No daily 3LB changes (reversal is 37.88).



BKX
Hammer day (confirmed bearish harami). Midpoint above EMA(10). Failing SMA(55). Failing its 61.8% retrace#1 (48.82). No daily 3LB changes (reversal is 46.64).



HYG/LQD
Hanging man day for the 3rd time. Tested and held SMA(55). Midpoint above EMA(10). Failing its 61.8% retrace#1 (0.8312). No daily 3LB changes (reversal is 0.8146).

IT HAS BEGUN. BE WARNED.