AmenRa's Corner

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

Creditcane™: My new winter accessory…bearskin full length coat.

SPX
Bullish long day. Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above all SMA's. Above 1110.02 (the .09 fibo from high) and heading for 1151.86 (the .0557 fib from high). New high on daily 3LB (reversal is 1125.07). QE2infinity.



DXY
Bearish long day (negated bullish harami). Below all SMA's. Midpoint below EMA(10). Now below its 61.8% retrace at 79.72. New low on daily 3LB (reversal is 81.25).



VIX
Bearish long day. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.



GOLD
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1279.30).



EURUSD
Bullish long day (confirming bearish thrusting). Midpoint above EMA(10). Really looking to test its 50% retrace. Above all SMA's. New high on daily 3LB (reversal is 1.3076).



JNK
Bullish long day. Above all SMA's. Midpoint above EMA(10). May retest the 85.4% retrace. No daily 3LB changes (reversal is 39.71).





10YR YIELD
Bullish long day. Closed gap. The 0.0% fibo retrace at 24.69 has been holding. Still below the 14.6% retrace (26.94), still below the weekly 3LB mid (27.60) and the SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 24.99).



AUDJPY
Bullish short day. Closed back above its 61.8% retrace. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 79.5419).



DJ TRANS AVG
Bullish long day. Holding above the upper trend line and all SMA's. Midpoint above EMA(10). Daily 3LB reversal up (reversal is 4382.93). Reversal down one day, reversal up the next. Something ain't right.



CRB
Bullish long day. Blew through the 100% retrace at 280.69. Midpoint above EMA(10). Above all SMA's. New high on daily 3LB (reversal is 277.56). Also closed above its monthly 3LB reversal price.

Morning Audibles 9.24.10

Once again, futures are green, (and gold & silver are at ALL TIME HIGHS) on the BOJ's latest effort to intervene & "fix" the appreciating yen... Mr. Market is basically telling them to "stick it where the RISING SUN don't shine"...

In other "FIXING" news...

Obama asks Wen for more action on yuan

http://www.reuters.com/article/idUSTRE68L5K120100924

EXCERPT: "So the president made clear that, through that and in his meeting, that he's going to protect U.S. economic interests and that we look for the Chinese to take actions. If the Chinese don't take actions, we have other means of protecting U.S. interests," Bader said."

Here was the response from Wen Jiabao...

Which prompted Obama to remind everyone that he was a Nobel Prize winning/POTUS who doubled as a martial arts master himself...

So stay tuned... Or, if you're not into blood, guts & violence, just tune in to the United States Congress who basically stands around and gets paid to do nothing after their month long vacation in August... After deciding not to pass a 2010 budget back in July, they have decided not to worry about the issue of the Bush Tax cuts either (until after the elections - which will basically get them to the Thanksgiving & Holiday break)...

No tax cut vote before election: Democrat

http://www.reuters.com/article/idUSTRE68M3AL20100923

Excerpt: "The Senate will not vote on renewing Bush-era tax cuts before the November elections, a spokesman for the Majority leader said on Thursday, as Democrats face internal divisions and potential Republican obstacles..."

Obstacles obstacles... Seems all around the globe, everybody's KUNG FU fighting these days...

AmenRa's Corner

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

Creditcane™: I slept well and will be fully refreshed for Friday.

SPX
Bearish short day again. Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above all SMA's. Above 1110.02 (the .09 fibo from high) and was heading for 1151.86 (the .0557 fib from high). No daily 3LB changes (reversal is 1121.90). QE2infinity.



DXY
Bullish harami day. Below all SMA's. Midpoint below EMA(10). Tested and held its 61.8% retrace at 79.72. No daily 3LB changes (reversal is 81.85).



VIX
Dragonfly doji day (usually used to indicate reversal in an uptrend). Midpoint above EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.



GOLD
Bullish short day again. Still above all SMA's. Midpoint above EMA(10). Failed retest of 0% retrace. New high on daily 3LB (reversal is 1275.90).



EURUSD
Bearish thrusting day. Midpoint above EMA(10). Is it still looking to test the 50% retrace? Above all SMA's. No daily 3LB changes (reversal is 1.3015).



JNK
Spinning top day. Above all SMA's. Midpoint barely above EMA(10). Tested and held the 76.4% retrace. Daily 3LB reversal down (reversal is 39.71).



10YR YIELD
Bullish short day (too much hair for hammer). Left abandoned baby candle at the police station. The 0.0% fibo retrace at 24.69 has been holding (for now). Back below the 14.6% retrace (26.94), still below the weekly 3LB mid (27.60) and the SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 24.99).



AUDJPY
Spinning top day again. Closed below its 61.8% retrace. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 79.5419).



XHB
Spinning top day. Back below the SMA(89). Still below 38.2% retrace. Midpoint below EMA(10). Daily 3LB reversal down (reversal is 15.64). Did someone say new home sales?



DJ TRANS AVG
Bearish long day. Holding above the upper trend line and all SMA's. Midpoint below EMA(10). Daily 3LB reversal down (reversal is 4511.27).




AAPL
Bullish short day. Above all SMA's (duh). Midpoint above EMA(10). New high on daily 3LB (reversal is 283.23).

Might see this before tomorrow is over:

Morning Audibles 9.23.10

Yesterday, somehow some malicious software got itself into my computer operating system so I had to go the NUCLEAR OPTION route and reformat my hard drive...

That's why I'm kind of out of pocket here as I'm re-assembling the pieces... Be back soon...

CV

AmenRa's Corner

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

Creditcane™: The animals have already left for higher ground. They can feel me coming.

SPX
Bearish short day (failed to confirm bearish thrusting). Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above all SMA's. Above 1110.02 (the .09 fibo from high) and was heading for 1151.86 (the .0557 fib form high). No daily 3LB changes (reversal is 1121.90). QE2infinity.



DXY
Bearish long day. Below all SMA's. Midpoint below EMA(10). Looking to test its 61.8% retrace at 79.72. New low on daily 3LB (reversal is 81.85).



VIX
Doji day (confirmed bullish harami). Midpoint above EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.



GOLD
Bullish short day. Still above all SMA's. Midpoint above EMA(10). Passed retest of 0% retrace (made a new 0%). New high on daily 3LB (reversal is 1272.20).



EURUSD
Bullish long day. Midpoint above EMA(10). Looking to test the 50% retrace. Above all SMA's. New high on daily 3LB (reversal is 1.3015).



JNK
Bearish short day. Above all SMA's. Midpoint above EMA(10). Looking to the 76.4% retrace. No daily 3LB changes (reversal is 39.50).



10YR YIELD
Abandoned baby day. The 0.0% fibo retrace at 24.69 has been holding (for now). Back below the 14.6% retrace (26.94), still below the weekly 3LB mid (27.60) and the SMA(21). Midpoint below EMA(10). No daily 3LB changes (reversal is 24.99).



AUDJPY
Spinning top day again. Last three days formed an evening star with confirmation. Held its 61.8% retrace. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 79.5419).



CRB
Spinning top day. Failed test of 100% retrace at 280.69 (for the third time). Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 274.27).



DJ TRANS AVG
Bearish engulfing day. Holding above the upper trend line and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4450.73). Trending up on the daily 3LB.

LEFTBACK'S BOND REPORT

The Bond Report 9.22.10

Another moderate risk-off day in credit. It was a flattener as long bonds were bid again. Ts outperformed corporates and IG > HY.

Corpies: LQD -0.06%; AGG 0.03%; JNK -0.25%; HYG -0.41%;
Govies: TLT 0.90%; IEI -0.03%; TIP 0.14%
Hedgies: TBT -1.91%

We did nothing. A right shoulder continues to form on TLT as LQD and AGG seem close to executing double tops. Unless there are a host of apocalyptic data releases, we think this is it for bonds for a while, and we would be looking for entry points on the short side, even as we unload more of our once very large long positions.