AmenRa's Corner

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

Creditcane™: What can I say? I have an evil twin?

SPX
Bullish short day (c'mon son. really?). 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 above 1151.86 (the .0557 fibo from high). New high on daily 3LB (reversal is 1142.71). QE2infinity.



DXY
Bearish short day. Midpoint below EMA(10). Still below its 76.4% retrace at 77.60. Also below 78.41 (.0557 from low). New low on daily 3LB (reversal is 78.09).



VIX
Bearish long day. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. New low on daily 3LB (reversal is 23.19). Approaching the "no fear" zone.



GOLD
Bullish long day (broke free from engulfing). Way above all SMA's. Midpoint above EMA(10). Failed test of new 0% retrace. No daily 3LB changes (reversal is 1310.30).



EURUSD
Doji day (no harami cross confirmation). Midpoint above EMA(10). Held its 61.8% retrace at 1.3899 again. Above all SMA's. No daily 3LB changes (reversal is 1.3637). BoE needs to tap out.



JNK
Hanging man day (at the 100% retrace)). Above all SMA's. Midpoint above EMA(10). Closed slightly above the 100% retrace. New high on daily 3LB (reversal is 39.86).



10YR YIELD
Bearish short day (struggling to close gap). The new 0.0% fibo retrace at 23.59 has held. Still below the weekly 3LB mid (27.60) and all SMA's. Midpoint below EMA(10). New low on daily 3LB (reversal is 24.56).



DJ TRANS AVG
Bullish long day. Holding above the upper trend line and all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4531.19). Train A has entered the tunnel traveling 55mph. Train B has entered the other end of the tunnel traveling 89mph. You know the answer.



CRB
Bullish LOOONNGG day (fully engulfed the bearish engulfing). Midpoint above EMA(10). Above all SMA's. New high on daily 3LB (reversal is 285.93).



TLT
Bearish short day. Above all SMA's. Midpoint above EMA(10). Held its 23.6% retrace for the last seven days. New low on daily 3LB (reversal is 106.02).

Morning Audibles 10.8.10

Ok, so here we are... NFP day...

A Hard Job is Good to find (wait, did I get that right)?

Whaddya say, MAE?

What are all supposed to be waiting for again? Oh yeah, If I recollect, it goes something like...

A) If the number comes in hot, the stock market goes up

B) If the number comes in cold, QE is assured, so the stock market goes up

C) If the number comes in "meh", that's considered goldilocks, so the stock market goes up

Of course, we all know it has nothing to do with actual PEOPLE, or JOBS... Just those who profit at the expense of others...

Tell them they need to SUCK IT UP

Let them eat OKRA cake

"Down into the never-ending valley of toil and agony, stretching mile after mile, an inferno of mud-soaked bodies, where the treaders' feet churn clay and straw into the mixture for Pharaoh's bricks, and everywhere the lash of watchful taskmasters, ready to sting the backs of the weary.

"Blades chopping straw... mattocks chopping clay, a ceaseless cycle of unending drudgery. From the mixing feet of treaders to the pouring hands of brick molders, moves the constant stream of mud, the lowly seed of tall cities. Day after day, year after year, century after century, bondage without rest, toil without reward. These are the children of misery, the afflicted, the hopeless, the oppressed." - The Ten Commandments - 1956

Not plussed about the toils of every day slaves, here's what a modern day PHARAOH had to say about the world this morning... (well actually, I'd characterize him more of a DATHAN type, but we'll get to that later)...

Markets: Very Big Multithreaded Software Apps That Crash

http://www.ritholtz.com/blog/2010/10/markets-very-big-multithreaded-software-apps-that-crash/

Excerpt: "Our stock markets now behave no differently than a giant multithreaded software application."

So, Mr. "Do you want to be right, or make money" "Wall Streeter who Blogs"... assuming you count yourself in the "I want to make money" crowd, I suppose you consider yourself a type who collects small gold coins from PHARAOH to keep an eye on the SLAVES working in the mudpits, and assure the building of Goshen goes on...

Well all I can say is "congratulations" on your promotion from TREADER, to TRADER...

But remember What Moses said to Pharaoh:

"The city is made of bricks. The strong make many, the starving make few, the dead make none."

AmenRa's Corner

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

Creditcane™: Repeat to myself: I am not a tropical storm. I am not a tropical storm. I am a hurricane.

SPX
Bearish short day (confirmed harami cross but not by much). 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 above 1151.86 (the .0557 fibo from high). No daily 3LB changes (reversal is 1125.59). QE2infinity.



DXY
Bullish harami cross day. Midpoint below EMA(10). Still below its 76.4% retrace at 77.60. Also below 78.41 (.0557 from low). No daily 3LB changes (reversal is 78.69).



VIX
Bullish short day. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. No daily 3LB changes (reversal is 23.89). Is it time to run yet?



GOLD
Bearish engulfing day. Way above all SMA's. Midpoint above EMA(10). Failed test of new 0% retrace. No daily 3LB changes (reversal is 1310.30).



EURUSD
Bearish harami cross day. Midpoint above EMA(10). Held its 61.8% retrace at 1.3899. Above all SMA's. No daily 3LB changes (reversal is 1.3637). BoE needs to tap out.



JNK
Bullish long day (confirmed bearish thrusting). Above all SMA's. Midpoint above EMA(10). Above the 85.4% retrace (heading for 0%). New high on daily 3LB (reversal is 39.78).



10YR YIELD
Bearish short day (failed to confirm takuri). The new 0.0% fibo retrace at 23.59 has held. Still below the weekly 3LB mid (27.60) and all SMA's. Midpoint below EMA(10). New low on daily 3LB (reversal is 27.61).



AUDJPY
Spinning top day again (13th in a row - hmmmm). Held its 61.8% retrace. Midpoint above EMA(10). Still above SMA(21). No daily 3LB changes (reversal is 79.5441).



DJ TRANS AVG
Spinning top day (barely confirmed evening star). Holding above the upper trend line and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4453.92).



CRB
Bearish engulfing day (fully enclosed yesterdays candle). Still above the 100% retrace at 280.69. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 283.99).

Morning Audibles 10.7.10

For your consideration... THE CHARLIE BROWN T-SHIRT PATTERN...

Ok, so you have to cut out a lot of noise... But if you smooth out the lines a little, you get what I'm talking about here...

What's interesting about the framework of Charlie Brown's T-Shirt here is that the ANCHOR (the 50% FIBO from the 2010 high, and the 2010 low, is 1116... (Which is the level that we started the year on - as I look back to January)...

It ought to be interesting will be to see how the 78.6 FIBO level to the brackets (which is around 1171-1172) behaves... In a framework capacity, it ought to operate much like the 1056 level (which wasn't important on it's own, but it kind of served as a base camp for exploratory moves to the 1040 level (or, escape FROM that level, as the case may be)... It's the BULLS, now, that are hoping that we can escape the Charlie Brown T-Shirt to the upside, using the famous SECURITY BLANKET of Linus Van Pelt, and his belief in the GREAT PUMPKIN...

Why, Here's a GREAT PUMPKIN sighting now showing you how it's done...

The other GREAT PUMPKIN that "hopers" voted in to office in 2008 was meanwhile spotted enjoying himself some Ocktoberfest...

Anyway, for TRADERS in a flux about this, I should remind any 3lb followers that 1186 is the MONTHLY 3lb REVERSAL... Needless to say... Charlie Brown's T-Shirt is still in play here...

Poor ol' Charlie Brown...

AmenRa's Corner

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

Creditcane™: Hard to turn around when using manual steering (aka market not moving enough).

SPX
Harami cross day (Danger Will Robinson! Danger!). 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 above 1151.86 (the .0557 fibo from high). No daily 3LB changes (reversal is 1125.59). QE2infinity.



DXY
Bearish long day again. Midpoint below EMA(10). Now below its 76.4% retrace at 77.60. Also below 78.41 (.0557 from low). New low on daily 3LB (reversal is 78.69).



VIX
Bearish short day. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. No daily 3LB changes (reversal is 23.89). A bit too complacent eh?



GOLD
Bullish short day (can't touch this). Way above all SMA's. Midpoint above EMA(10). Made another new 0% retrace. New high on daily 3LB (reversal is 1310.30).



EURUSD
Bullish long day. Midpoint above EMA(10). Now above its 61.8% retrace at 1.3899. Above all SMA's. New high on daily 3LB (reversal is 1.3637). BoE needs to tap out.



JNK
Bearish thrusting day. Above all SMA's. Midpoint above EMA(10). Above the 85.4% retrace. No daily 3LB changes (reversal is 39.65).




10YR YIELD
Takuri day. The 0.0% fibo retrace at 24.69 was violated. New 0% in chart. Still below the weekly 3LB mid (27.60) and all SMA's. Midpoint below EMA(10). New low on daily 3LB (reversal is 27.95).



AUDJPY
Spinning top day again (12th in a row - hint hint). Held its 61.8% retrace. Midpoint above EMA(10). Back above SMA(21). No daily 3LB changes (reversal is 79.5441).



YEN (FXY)
Doji day. Above all SMA's. Midpoint above EMA(10). Tested but failed its 0% retrace. Daily 3LB reversal up (reversal now 115.30).




DJ TRANS AVG
Evening star day (come on confirmation). Holding above the upper trend line and all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4453.92). This is going to cause a derailment eventually (train is leaning ever so slightly).