AmenRa's Corner 7.25.12




Creditcane™: The power of the rumor is waning and shall allow me to rise in all of my glory.


SPX
Spinning top day. Midpoint below EMA(10). Tested and held SMA(55). Tested and failed the 38.2% minor retrace (1343.55). New low on daily 3LB (reversal is 1372.78). Still failing lower trendline. QE2infinity.



DXY
Bearish engulfing day. Midpoint above EMA(10). Tested and failed the 0.0% retrace (84.00). Still above all SMA's. No daily 3LB changes (reversal is 83.03).



VIX
Bearish harami day. Midpoint above EMA(10). Tested and held SMA(144) but failed SMA(55). Tested and failed its 50.0% minor retrace (20.22). No daily 3LB changes (reversal is 15.45).



GOLD
Bullish long day. Midpoint above EMA(10). Tested and held its 61.8% retrace (1600.40). Tested and held SMA(21,55). No daily 3LB changes (reversal is 1634.20). Must have the precious.



EURUSD
Bullish engulfing day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.2154). No daily 3LB changes (reversal is 1.2286).



JNK
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still failing its 38.2% minor retrace (39.62). New low on daily 3LB (reversal is 39.85).



10YR YIELD
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 0.0% retrace (14.40). No daily 3LB changes (reversal is 14.64).



WTI
Bullish short day. Tested and held SMA(55). Midpoint above EMA(10). Tested and held its 50.0% minor retrace (88.24). No dally 3LB changes (reversal is 92.97).



SILVER
Bullish short day. Tested and held SMA(21). Midpoint below EMA(10). Holding above its 100.0% retrace (26.66). No daily 3LB changes (reversal is 26.29).



BKX
Spinning top day. Midpoint below EMA(10). Tested and held SMA(55). Still failing its 61.8% retrace (46.14). No daily 3LB changes (reversal is 46.33).



HYG/LQD
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (0.7536). New low on daily 3LB (reversal is 0.7588).



COPPER
Spinning top day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 50.0% minor retrace (3.359). No daily 3LB changes (reversal is 3.305).



AAPL
Doji day (after huge gap lower). Tested and failed SMA(55). Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (577.84). Daily 3LB reversal down (reversal is 614.32).



TLT
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held its new 0.0% retrace (132.04). New high on daily 3LB (reversal is 130.36).







IT HAS BEGUN. YOU HAVE BEEN WARNED.

9 comments:

AmenRa said...

WTH happened overnight to send futures screaming higher? Is is T+3?

AmenRa said...

n/m I see Mario Draghi was jawboning. But Germany hasn't said a thing.

AmenRa said...

And then there is this from the ECB Press Conference in Dec 2011:

Draghi: At the present time we do not see a high probability of deflation. That is one point to keep in mind. The second point is, as I have said many times, that the purpose of the SMP is to reactivate the transmission channels of monetary policy. As I said in the statement to the European Parliament, the SMP is neither eternal nor infinite. We must keep this in mind and we do not want to circumvent Article 123 of the Treaty, which prohibits the monetary financing of governments.

AmenRa said...

Initial claims BTE (no QE)
Durable goods M/M 1.6%, previous 1.6% (rev from 1.1%), consensus 0.6%.
Ex-Trans M/M -1.1%, previous 0.8% (rev from 0.4%), consensus 0.2%

The ex-trans may worry the Fed but it's not enough for the next round of QE. So next week I don't expect any stimulus but the Fed may extend 2013 to 2014 in the language.

AmenRa said...

Spain 10yr @ 6.99% (for now but the day is still young).
Italy 10yr @ 6.11% (still makes it expensive for them to borrow).

Anonymous said...

http://finviz.com/quote.ashx?t=S

~3.82

to mention the obvious..

"...many missed the 'Bull Case' on this one..."

ibid.

Bruce in Tennessee said...

The unfortunate thing is that as we add 1 trillion to US debt yearly, that only the fiscally conservative see this as impossible to pay back..that is, there is no way in hell to get the R and D teams to agree to start paying down this massive debt. EVERYTHING else is seconday. I see traders are getting very antsy about the Japanese debt too, at this stage. Greece had few worries as long as there was excess debt to fund its bloat. I have been at this a long time, and don't see anything different here. Yes, we are the reserve currency, but it feels like all that means is we manage to make the storm worse at the end.

Will sign a contract to sell the trees > 16 inches next week. Or soon thereafter.

Good luck trading guys..

Anonymous said...

Bruce,

I hear your point(s)..

though, if 'Cash' from the Tree sale, then..What? will you use as 'Store of Value'?

ibid.

AmenRa said...

AAIP

BinT still has the land that the tree are on.


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