AmenRa's Corner

"If H and crew can make it over the Pyrenees and Alps, so can we!"

Creditcane™: I still haven't figured out they continue to find ways to stop me.

SPX
Hanging man day. Midpoint above EMA(10). Tested and failed SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Still above monthly & daily 3LB mids.



DXY
Bullish short day. Midpoint above EMA(10). Tested and failed the 61.8% retrace (77.27). Tested and held SMA(21). No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.



VIX
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Failing its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). Still can't escape the grip of the "fear" zone.



GOLD
Bearish thrusting day. Midpoint above EMA(10). Held its 38.2% retrace (1714.40). Held above SMA(55). No daily 3LB changes (reversal is 1594.80). Must have the precious.



EURUSD
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 38.2% minor retrace (1.3713). No daily 3LB changes (reversal is 1.4201).



JNK
Bullish short day (barely confirmed dragonfly doji). Midpoint above EMA(10). Tested and held SMA(89). Held above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Spinning top day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 23.95).



WTI
Doji day. Tested and failed SMA(144). Midpoint above EMA(10). Tested and held its 38.2% retrace (92.96). New high on dally 3LB (reversal is 93.17). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Holding above SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bearish short day. Midpoint above EMA(10). Held aboveSMA(21). Held above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Spinning top day. Tested and held SMA(55). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Bullish short day. Midpoint above EMA(10). Failing SMA(144). Tested and held its 38.2% minor retrace (78.074). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts. Still waiting.

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.4.11

Open Thread Day

Neither bears or bulls are having a good week. Sheesh.

AmenRa's Corner

"Turn those machines back on!!!"

Creditcane™: I need to wreck a coliseum to stop the flip flopping.

SPX
Bullish long day. Midpoint above EMA(10). Tested and held SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Back above monthly & daily 3LB mids.



DXY
Bearish long day. Midpoint above EMA(10). Tested and failed the 61.8% retrace (77.27). Tested and failed SMA(21). No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.



VIX
Bearish short day (with long "hair"). Midpoint below EMA(10). Failed SMA(21). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). Can't escape the grip of the "fear" zone.



GOLD
Bullish long day. Midpoint above EMA(10). Held its 38.2% retrace (1714.40). Tested and held SMA(55). Daily 3LB reversal up (reversal is 1594.80). Must have the precious.



EURUSD
Bullish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 38.2% minor retrace (1.3713). No daily 3LB changes (reversal is 1.4201).



JNK
Dragonfly doji day (not much of an uptrend though). Midpoint above EMA(10). Tested and held SMA(89). Held above its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Spinning top day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 23.95).



WTI
Bullish short day. Holding above SMA(89). Midpoint above EMA(10). Tested and held its 38.2% retrace (92.96). New high on dally 3LB (reversal is 91.27). Not confirming the monthly 3LB reversal down.



SILVER
Spinning top day. Holding above SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bullish short day. Midpoint above EMA(10). Tested and held SMA(21). Held above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (0.7643). No daily 3LB changes (reversal is 0.7966).



USDJPY
Bearish short day. Midpoint above EMA(10). Failing SMA(144). Tested and failed its 38.2% minor retrace (78.074). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts.



COPPER
Doji day. Midpoint above EMA(10). Failing SMA(55). Holding above its 38.2% retrace (3.673). No daily 3LB changes (reversal is 3.449).

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.3.11

AUDJPY (weekly info)
new high 0.8064
trend=no
direction=up (2 bars)
high= 0.8064
rev= 0.7376; mid= 0.7720

AUDJPY weekly is forming a dark cloud cover indicating a "risk off" condition is coming. It's back below the 38.2% retrace and SMA(21). With Greece being threatened with expulsion from the Euro and Italy failing to implement austerity measures the dark cloud cover may become a bearish engulfing very quickly.



EURCHF (weekly info)
-no change (above mid)
trend=up
high= 1.2382
rev= 1.1292; mid= 1.1837


Considering the Euro implosion that's on the horizon, I'm wondering if the SNB is regretting setting the peg. It's above the SMA(13), weekly 3LB mid and monthly 3LB mid. It never broke through the 38.2% retrace. The MACD is heading lower and Williams %R is also (but isn't oversold yet).



DXY (weekly info)
new low 75.07
trend=down
low= 75.07
rev= 78.55; mid= 76.81


DXY is back in favor as the Euro is not the place to be. It's back above the SMA(13) & SMA(55). It's also above the weekly & monthly 3LB mids. In under one week it took out the minor retraces so the next stop is 78.76 (the 38.2% retrace).

AmenRa's Corner

Creditcane™: I'm amazed that traders continue to believe all of the BS headlines out there.

SPX
Bullish long day. Midpoint below EMA(10). Tested and held SMA(89). Tested and failed the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1285.09). QE2infinity. Still below monthly & daily 3LB mid.



DXY
Bearish thrusting day. Midpoint above EMA(10). Tested and failed the 61.8% retrace (77.27). Tested and held SMA(21). No daily 3LB changes (reversal is 74.88). Not confirming the monthly 3LB reversal up.



VIX
Spinning top day. Midpoint above EMA(10). Failed SMA(55). Tested and failed its 38.2% retrace (33.51). No daily 3LB changes (reversal is 48.00). Can't escape the grip of the "fear" zone.



GOLD
Bullish short day. Midpoint above EMA(10). Held its 38.2% retrace (1714.40). Failing SMA(55). No daily 3LB changes (reversal is 1757.30). Still above daily 3LB mid. Must have the precious.



EURUSD
Bullish thrusting day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and held its 38.2% minor retrace (1.3713). No daily 3LB changes (reversal is 1.4201).



JNK
Spinning top day. Midpoint below EMA(10). Tested and held SMA(89). Tested and held its 50.0% retrace (38.24). No daily 3LB changes (reversal is 37.74).



10YR YIELD
Bearish short day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 23.95).



WTI
Spinning top day. Holding above SMA(89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (92.96). No dally 3LB changes (reversal is 88.53). Not confirming the monthly 3LB reversal down.



SILVER
Bullish long day. Holding above SMA(21). Midpoint above EMA(10). Failing its 61.8% retrace (35.25). No daily 3LB changes (reversal is 36.58).



BKX
Bullish short day (possible bullish harami). Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 36.51).



HYG/LQD
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (0.7643). New low on daily 3LB (reversal is 0.7966).



USDJPY
Bearish short day. Midpoint above EMA(10). Failing SMA(144). Tested and failed its 38.2% minor retrace (78.074). No daily 3LB changes (reversal is 75.70). Let's see how long this lasts.

IT HAS BEGUN. YOU HAVE BEEN WARNED.

Morning Corner 11.2.11

HYG (weekly info)
new high 90.12
trend=up
high= 90.12
rev= 85.21; mid= 87.67


Even though this weekly candle is not a reversal candle, HYG has traded down to its weekly 3LB mid. Probably profit taking in case of an EU implosion. It's only below the SMA(55) & SMA(233). The MACD has turned down and Williams %R is not yet oversold.



LQD (weekly info)
new high 114.44
trend=no
direction=up (2 bars)
high= 114.44
rev= 112.59; mid= 112.74

IG is definitely outperforming HY. LQD is above all SMA's. It had a weekly 3LB confirmation last week. MACD has crossed zero and is moving higher. Williams %R is close to overbought but that might not stop the move higher.



IEF (weekly info)
new low 102.14
trend=down
low= 102.14
rev= 105.14; mid= 103.63


IEF is back above all SMA's. It's also back above its weekly 3LB mid. The monthly 3LB is trending up so the long term view is still bullish.