AmenRa's Corner 5.14.12




Creditcane™: I am the master of your fate. I am the captain of your soul.


SPX
Bearish long day. Midpoint below EMA(10). Failing SMA(89). Tested and failed the 61.8% minor retrace (1343.55). New low on daily 3LB (reversal is 1358.59). QE2infinity.
DXY
Bullish long day. Midpoint above EMA(10). Tested and held the 38.2% minor retrace (80.33). Still above all SMA's. New high on daily 3LB (reversal is 80.08). Still above weekly 3LB mid.
VIX
Bullish short day (hanging man? probably not). Midpoint above EMA(10). Still above all SMA's. Tested and held its 38.2% minor retrace (21.62). Daily 3LB reversal up (reversal is 16.24).
GOLD
Bearish long day. Midpoint below EMA(10). Failing its 61.8% retrace (1598.10). Failing all SMA's. New low on daily 3LB (reversal is 1604.50). Still below its monthly 3LB mid. Must have the precious.
EURUSD
Bearish long day. Midpoint below EMA(10). Still failing all SMA's. Failing its 38.2% minor retrace (1.3057). New low on daily 3LB (reversal is 1.3028).
JNK
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(89). Failing its 38.2% minor retrace (39.62). Daily 3LB reversal down (reversal is 39.73).
10YR YIELD
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (17.76). Daily 3LB reversal down (reversal is 18.84).
WTI
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 38.2% retrace (94.65). New low on dally 3LB (reversal is 97.01). Still below the monthly 3LB mid.
SILVER
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Failing its 61.8% minor retrace (30.00). New low on daily 3LB (reversal is 29.24).
BKX
Bearish long day. Midpoint below EMA(10). Now failing SMA(89). Tested and failed its 61.8% retrace (46.14). New low on daily 3LB (reversal is 46.83).
HYG/LQD
Bearish long day. Now failing all SMA's. Midpoint below EMA(10). Failing its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7676).
COPPER
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Tested and failed its 38.2% retrace (3.660). New low on daily 3LB changes (reversal is 3.678).
AAPL
Bearish short day. Failing SMA(55). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (563.20). Daily 3LB reversal down (reversal is 610.00).




IT HAS BEGUN. YOU HAVE BEEN WARNED.

12 comments:

AmenRa said...

Futures keep trying to push higher but DXY, EURUSD, AUDJPY and WTI are bringing them back to reality.

Andy T said...

http://www.chron.com/business/press-releases/article/Facebook-Co-Founder-Eduardo-Saverin-Renounces-US-3558119.php

AmenRa said...

Andy T

I've been hearing about that for a few days now. I wonder how thrilled the IRS is with this move.

b22 said...

Ra,

The IRS is probably more worried about the fact that the number of people doing this is rising so rapidly

but they'll still get money:

http://www.irs.gov/businesses/small/international/article/0,,id=97245,00.html#_Expatriation_On_or_Before%20June%203,%202_1

AmenRa said...

b22

Yeah, I believe there is a penalty the IRS makes one pay to get out from under US citizenship. I guess the penalty is used to make up for the lost taxes (over a lifetime) that US would have received.

AmenRa said...

Market is itching to roll over...

Andy T said...

Alert.

S&P 500 under 1338...

Team Bernanke needs to get on the case quick.

AmenRa said...

SPX 1300.49 next support using previous lows. There's also SMA(144) at 1315.73 and the 38.2% retrace at 1296.82.

AmenRa said...

Looks like Brian Sack was rehired...

AmenRa said...

Wait. Nevermind. Sack's scan card has been deactivated and he can't enter the building.

AmenRa said...

It's not about support. It's about holding the round number (or the 5). Either way it sounds good on the nightly business report.

AmenRa said...

New thread.

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