AmenRa's Corner

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

"Looks like I'll be having another weekend bender."

Creditcane™: Got jumped by Wall Street in a dark alley…again.

SPX
Hanging man day. Midpoint above EMA(10). Still above all SMA's. Holding above trend line (3/6/09-7/1/10). Holding the 38.2% minor retrace (1314.25). No daily 3LB changes (reversal is 1353.22). QE2infinity. Will the hanging man be set free?



DXY
Bullish harami day. Midpoint below EMA(10). Tested and failed the 38.2% minor retrace (74.40). Still below all SMA's. Tested and failed its weekly 3LB mid. No daily 3LB changes (reversal is 75.99).



VIX
Bullish short day. Midpoint below EMA(10). Still below all SMA's. Failing its 38.2% retrace (20.28). Tested and held its 38.2% minor retrace (17.51). No daily 3LB changes (reversal is 21.32). Has yet to be paroled from the "no fear" zone.



GOLD
Bullish long day (didn't confirm bearish engulfing). Midpoint above EMA(10). Tested and failed its 0.0% retrace (1607.90). Still above all SMA's. New high on daily 3LB (reversal is 1589.30). Holding above upper trend line. Must have the precious.



EURCHF
Spinning top day. Midpoint above EMA(10). Holding its 0.0% retrace (1.1467). Tested and held its 38.2% minor retrace (1.1726). Failing all SMA's. New high on daily 3LB (reversal is 1.1509).



JNK
Hanging man day. Midpoint above EMA(10). Still above all SMA's. Holding its 61.8% retrace (40.20). Failed test of 38.2% minor retrace (40.45). Held trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.86).



10YR YIELD
Bearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Failed its 50.0% minor retrace (29.87). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).



WTI
Spinning top day. Tested and held SMA(55). Midpoint above EMA(10). Still holding its 38.2% minor retrace (97.98). New high on dally 3LB (reversal is 97.25).



SILVER
Bullish short day (possible bullish harami - ruh roh?). Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Failing its 38.2% retrace (40.69). No daily 3LB changes(reversal is 38.15).



BKX
Hanging man day. Midpoint above EMA(10). Tested and held SMA(21). Held its 38.2% minor retrace (47.20). No daily 3LB changes (reversal is 48.32). Closed week with a weekly 3LB reversal up.



HYG/LQD
Bearish short day. Tested and failed SMA(233). Midpoint above EMA(10). Failing its 50.0% retrace (0.8259). No daily 3LB changes (reversal is 0.8329).



RBOB Gasoline
Bullish short day. Midpoint above EMA(10). Above all SMA's. Failing its 38.2% minor retrace (3.15). No daily 3LB changes (reversal is 2.98).

IT HAS BEGUN. BE WARNED.

Diver almost eaten by a whaleshark (freaky)...

http://news.yahoo.com/photos/whale-shark-swim-1311371866-slideshow/#crsl=

Morning Corner 7.22.11

BAC (weekly info)
new low 10.00
trend=down
low= 10.00
rev= 10.80; mid= 10.40


Even though earnings were BTE, the stock price continued to fall. Might have had something to do with Paulson selling his stake. This week is trying to form a bullish piercing. It's below all SMA's and the monthly 3LB mid.



DXY (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 75.76
rev= 72.93; mid= 74.35

The strength in the dollar has dissipated. It's now below all SMA's. It's below its 38.2% minor retrace (75.10). It's also below its weekly 3LB mid. I wonder if the EURUSD and DXY can go down together?

AmenRa's Corner

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

Creditcane™: Got jumped by Wall Street in a dark alley.

SPX
Bullish long day (confirmed bearish thrusting). Midpoint above EMA(10). Still above all SMA's. Holding above trend line (3/6/09-7/1/10). Held the 38.2% minor retrace (1314.25). No daily 3LB changes (reversal is 1353.22). QE2infinity.



DXY
Bearish long day. Midpoint below EMA(10). Tested and failed the 38.2% minor retrace (74.40). Now below all SMA's. Tested and failed its weekly 3LB mid. New low on daily 3LB (reversal is 75.99).



VIX
Bearish long day. Midpoint below EMA(10). Now below all SMA's. Failing its 38.2% retrace (20.28). Failed its 50.0% minor retrace (18.03). No daily 3LB changes (reversal is 21.32). Captured and returned to the "no fear" zone.



GOLD
Dark cloud cover day. Midpoint above EMA(10). Tested and failed its 0.0% retrace (1594.90). Still above all SMA's. No daily 3LB (reversal is 1585.50). Holding above upper trend line. Must have the precious.



EURCHF
Bullish long day. Midpoint below EMA(10). Holding its 0.0% retrace (1.1467). Tested and failed its 38.2% minor retrace (1.1726). Failing all SMA's. New high on daily 3LB (reversal is 1.1477).



JNK
Bullish long day. Midpoint above EMA(10). Now above all SMA's. Holding its 61.8% retrace (40.20). Held trend line (2/5/10-2/12/10). Daily 3LB reversal up (reversal is 39.86).



10YR YIELD
Bullish long day (confirmed bullish harami). Tested and held SMA(21). Midpoint above EMA(10). Held its 50.0% minor retrace (29.87). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).



WTI
spinning top day. Tested and held SMA(55). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (97.98). New high on dally 3LB (reversal is 95.78).



SILVER
Bearish long day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Failing its 38.2% retrace (40.69). No daily 3LB changes(reversal is 38.15).



BKX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Held its 38.2% minor retrace (47.20). No daily 3LB changes (reversal is 48.32). Now trading above its weekly 3LB reversal price.



HYG/LQD
Bullish long day. Tested and held SMA(55) & SMA(233). Midpoint above EMA(10). Tested and failed its 50.0% retrace (0.8259). No daily 3LB changes (reversal is 0.8332).



EEM
Bullish long day. Midpoint above EMA(10). Tested and held SMA(55), SMA(89) & SMA(144). Tested and held its 50.0% retrace (47.33). No daily 3LB changes (reversal is 48.48).

IT HAS BEGUN. BE WARNED.

Morning Corner 7.21.11

EURCHF (weekly info)
new low 1.1477
trend=down
low= 1.1477
rev= 1.2126; mid= 1.1802


Appears the EURCHF is trying to form a bullish harami for the week. Why? Risk is not off the table for the EU just yet. It's below all SMA's. It tested and held its 0.0% retrace (so far). The MACD is starting to move higher. The Williams %R is rebounding from an oversold condition.



AUDJPY (weekly info)
-no change (below mid)
trend=up
high= 0.8852
rev= 0.8241; mid= 0.8553


The AUDJPY is also forming a bullish harami. But it's in a trading range and not in a downtrend. It wants to hold the lower trend line. If commodities become the safe haven again then this cross is headed higher.

AmenRa's Corner

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

Creditcane™: Are you looking at me? Are you looking at me?

SPX
Bearish thrusting day. Midpoint above EMA(10). Still above all SMA's. Holding above trend line (3/6/09-7/1/10). Held the 38.2% minor retrace (1314.25). No daily 3LB changes (reversal is 1353.22). QE2infinity.



DXY
Bearish long day. Midpoint below EMA(10). Tested and failed the 61.8% minor retrace (74.94). Failed SMA(21) & SMA(55). Holding its weekly 3LB mid. No daily 3LB changes (reversal is 74.79).



VIX
Spinning top day. Midpoint below EMA(10). Still above all SMA's. Failing its 38.2% retrace (20.28). No daily 3LB changes (reversal is 21.32). Captured and returned to the "no fear" zone.



GOLD
Bullish long day (7/19/11 become a bearish short day instead of bearish engulfing). Midpoint above EMA(10). Tested and held its 0.0% retrace (1594.90). Above all SMA's. No daily 3LB (reversal is 1585.50). Holding above upper trend line. Must have the precious.



EURCHF
Doji day (didn't confirm bullish engulfing). Midpoint below EMA(10). Holding its 0.0% retrace (1.1467). Failing all SMA's. No daily 3LB changes (reversal is 1.1477).



JNK
Spinning top day. Midpoint above EMA(10). Tested and held SMA(233) & SMA(55). Tested and held its 61.8% retrace (40.20). Below trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 40.39).



10YR YIELD
Spinning top day (possible bullish harami). Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (29.56). Further below the upper trend line. No daily 3LB changes (reversal is 31.97).



WTI
Doji day. Held SMA(233). Tested and failed SMA(55). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (97.98). No dally 3LB changes (reversal is 91.38).



SILVER
Bullish short day (yesterdays engulfing became a short day). Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Failing its 38.2% retrace (40.69). No daily 3LB changes(reversal is 38.15).



BKX
Bullish long day. Midpoint below EMA(10). Failing all SMA's. Held its 50.0% minor retrace (46.69). No daily 3LB changes (reversal is 48.32).



HYG/LQD
Bullish long day. Tested and held SMA(21). Midpoint above EMA(10). Tested and held its 38.2% retrace (0.8201). No daily 3LB changes (reversal is 0.8332).



COPPER
Dark cloud cover day. Midpoint above EMA(10). Still above all SMA's. Failed its 50.0% minor retrace (4.460) but held its 38.2% retrace (4.330). No daily 3LB changes (reversal is 4.302).

IT HAS BEGUN. BE WARNED.