AmenRa's Corner 12.5.12




Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.


SPX
Spinning top day. Midpoint above EMA(10). Still failing SMA(89). Still failing the 38.2% minor retrace (1416.67). No daily 3LB changes (reversal is 1416.18). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.



DXY
Bullish short day. Midpoint below EMA(10). Still failing the 38.2% retrace (79.97). Still failing all SMA's. No dally 3LB changes (reversal is 80.22).



VIX
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(21). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 15.06).



GOLD
Spinning top day. Midpoint below EMA(10). Still failing its 38.2% retrace (1733.20). Still failing SMA(89). New low on daily 3LB (reversal is 1718.80). Must have the precious.



EURUSD
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 38.2% retrace (1.3127). No daily 3LB changes (reversal is 1.2988).



JNK
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.26).



10YR YIELD
Bearish short day. Now failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 15.89).



WTI
Bearish short day. Still failing SMA(55). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (88.45). No dally 3LB changes (reversal is 84.87).



SILVER
Spinning top day. Tested and failed SMA(21,55). Midpoint below EMA(10). Holding above its 38.2% minor retrace (32.24). No daily 3LB changes (reversal is 34.42).



BKX
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 38.2% minor retrace (49.10). No daily 3LB changes (reversal is 46.68).



HYG/LQD
Bearish long day. Tested and failed SMA(89,144). Midpoint above EMA(10). Holding above its 0.0% retrace (0.7536). No daily 3LB changes (reversal is 0.7602).



COPPER
Bullish short day. Midpoint above EMA(10). Now above all SMA's. Tested and held its 38.2% retrace (3.681). New high on daily 3LB (reversal is 3.605).



AAPL
Bearish long day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and failed its 38.2% retrace (555.47). Still failing BB(2,200). Daily 3LB reversal down (reversal is 589.53).



CCI
Bullish short day. Midpoint below EMA(10). Tested and held SMA(55,89). Tested and held its 61.8% minor retrace (570.80). No daily 3LB changes (reversal is 568.70).







IT HAS BEGUN. YOU HAVE BEEN WARNED.

1 comments:

AmenRa said...

http://www.bloomberg.com/news/2012-12-06/greek-bond-buyback-leads-s-p-to-cut-to-selective-default.html
Greek Bond Buyback Leads S&P to Cut to Selective Default

Greece’s credit grade was reduced to SD, or selective default, by Standard & Poor’s from CCC after the government began buying its bonds back from investors, a statement on the rating company’s website said yesterday.

The buyback “constitutes the launch of what we consider to be a distressed debt restructuring,” S&P said in its statement. “Any potential upgrade to the CCC category rating would reflect, among other factors, our view of the debt relief that is being delivered through the buy back and its contribution to putting the sovereign’s public finances on a sustainable footing.”

The SD designation “includes the completion of a distressed exchange offer, whereby one or more financial obligation is either repurchased for an amount of cash or replaced by other instruments having a total value that is less than par,” according to S&P’s website.

***Let the games begin.

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