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Posts: 4,888
Reply with quote  #1 
2013-10-01 15:59:54 [Message] fib_1618 -> Chat: good day
2013-10-01 15:59:59 [Message] fib_1618 -> Chat: how is everyone?
2013-10-01 16:00:19 [Message] bylo -> Chat: good
2013-10-01 16:00:50 [Message] fib_1618 -> Chat: so...did you "by lo"? [smile]
2013-10-01 16:01:46 [Message] bylo -> Chat: I'm long but net last 5 days under water
2013-10-01 16:01:58 [Message] thespookyone -> Chat: yes
2013-10-01 16:02:29 [Message] fib_1618 -> Chat: always hard to step in and immediately go negative
2013-10-01 16:02:46 [Message] fib_1618 -> Chat: but, then again, buying at wholesale has never been a easy chore [smile]
2013-10-01 16:03:09 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2013-10-01 16:03:21 [Message] thespookyone -> Chat: Naz was strong...
2013-10-01 16:03:32 [Message] fib_1618 -> Chat: MID...SML
2013-10-01 16:03:41 [Message] thespookyone -> Chat: yep
2013-10-01 16:03:56 [Message] fib_1618 -> Chat: meanwhile...everyone keeps watching the household names and indices
2013-10-01 16:04:33 [Message] thespookyone -> Chat: I did buy one big name (option) AMZN
2013-10-01 16:06:05 [Message] fib_1618 -> Chat: OK...let's get DP up and get started
2013-10-01 16:08:43 [Message] fib_1618 -> Chat: after moving below the zero line last Friday
2013-10-01 16:08:54 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO snapped back to the zero line today
2013-10-01 16:09:16 [Message] fib_1618 -> Chat: and closed slightly above this line with a +9 reading
2013-10-01 16:09:37 [Message] fib_1618 -> Chat: we did not, however, move above the blip resistance area seen just to the left of the chart
2013-10-01 16:11:06 [Message] fib_1618 -> Chat: one thing that we do see is that we have left behind a spike right at the -25 level
2013-10-01 16:11:27 [Message] fib_1618 -> Chat: so if we do get follow through on this MCO above the blip resistance point
2013-10-01 16:11:40 [Message] fib_1618 -> Chat: there's a very good chance that we have created a "buy spike"
2013-10-01 16:11:52 [Message] fib_1618 -> Chat: as a reminder
2013-10-01 16:12:02 [Message] fib_1618 -> Chat: the criteria of a buy spike is as follows
2013-10-01 16:12:16 [Message] fib_1618 -> Chat: we see an "oversold" reading on the MCO
2013-10-01 16:12:32 [Message] fib_1618 -> Chat: this is then followed by a brisk move back above the zero line
2013-10-01 16:12:42 [Message] fib_1618 -> Chat: and we tend to stay above the zero line for a period of 2 weeks
2013-10-01 16:12:54 [Message] fib_1618 -> Chat: the MCO then moves back below the zero line
2013-10-01 16:13:08 [Message] fib_1618 -> Chat: and finds support somewhere between the -20 and -30 level
2013-10-01 16:13:17 [Message] fib_1618 -> Chat: with our ideal target of -25
2013-10-01 16:13:27 [Message] fib_1618 -> Chat: from this a spike is created
2013-10-01 16:13:45 [Message] fib_1618 -> Chat: and the MCO then moves back to above the zero line within 3 trading days
2013-10-01 16:13:49 [Message] fib_1618 -> Chat: so far then
2013-10-01 16:14:00 [Message] fib_1618 -> Chat: we have a textbook "buy spike" structure
2013-10-01 16:14:06 [Message] fib_1618 -> Chat: if this is confirmed
2013-10-01 16:14:31 [Message] fib_1618 -> Chat: then we can expect to see the MCO stay above the zero line for a period of another 2-3 weeks
2013-10-01 16:14:42 [Message] fib_1618 -> Chat: as money begins to pour into the market
2013-10-01 16:14:49 [Message] fib_1618 -> Chat: usually because clarity is known
2013-10-01 16:14:58 [Message] fib_1618 -> Chat: and thereby so is the direction of the trend
2013-10-01 16:15:14 [Message] fib_1618 -> Chat: so we can call this another version of a "point of recognition"
2013-10-01 16:15:21 [Message] fib_1618 -> Chat: but still
2013-10-01 16:15:45 [Message] fib_1618 -> Chat: we need to close back above our blip resistance high before we have confirmation of the spike
2013-10-01 16:15:49 [Message] fib_1618 -> Chat: then again
2013-10-01 16:16:10 [Message] fib_1618 -> Chat: the BETS did close at a +45 this past weekend giving us a "bullish bias" signal
2013-10-01 16:16:12 [Message] fib_1618 -> Chat: and...
2013-10-01 16:16:32 [Message] fib_1618 -> Chat: the NYSE Open 10 was at a 1.48 reading on Monday
2013-10-01 16:16:40 [Message] fib_1618 -> Chat: and once the wheels get going there
2013-10-01 16:17:07 [Message] fib_1618 -> Chat: we can expect that it's probably going to take a week or so before we'll see this indicator at or below the 1.00 level
2013-10-01 16:17:18 [Message] fib_1618 -> Chat: so lots of whispers going on right now
2013-10-01 16:17:22 [Message] fib_1618 -> Chat: all we need is a trigger
2013-10-01 16:17:30 [Message] fib_1618 -> Chat: also of note
2013-10-01 16:17:56 [Message] fib_1618 -> Chat: is that the NYSE CO breadth MCSUM is maintaining its current level at just below the +500 level as well
2013-10-01 16:18:07 [Message] fib_1618 -> Chat: so any move above our blip resistance level in the MCO
2013-10-01 16:18:33 [Message] fib_1618 -> Chat: will then allow the MCSUM to actually move above what we refer to as the "escape velocity" point on the pattern
2013-10-01 16:18:58 [Message] fib_1618 -> Chat: and one would have to think that this would be quite a bullish condition for prices overall
2013-10-01 16:19:12 [Message] fib_1618 -> Chat: lastly
2013-10-01 16:19:25 [Message] fib_1618 -> Chat: bringing our line of vision down to the NYSE CO MCO components
2013-10-01 16:19:38 [Message] fib_1618 -> Chat: as we see that the 10% Trend bounced right off its zero line today
2013-10-01 16:19:50 [Message] fib_1618 -> Chat: and we are back to a cross over buy signal
2013-10-01 16:19:53 [Message] fib_1618 -> Chat: all in all then
2013-10-01 16:20:15 [Message] fib_1618 -> Chat: the commons look primed and ready to show a high degree of bullish behavior here
2013-10-01 16:20:35 [Message] fib_1618 -> Chat: let's see how the composite is doing
2013-10-01 16:21:14 [Message] fib_1618 -> Chat: the NYSE Composite breadth MCO is back above its zero line now
2013-10-01 16:21:27 [Message] fib_1618 -> Chat: as it found support around the -7 level
2013-10-01 16:21:47 [Message] fib_1618 -> Chat: this is also an indication that the broader market is showing better buoyancy right now
2013-10-01 16:22:09 [Message] fib_1618 -> Chat: and we actually see this by looking at the MCO components in relation to their zero line
2013-10-01 16:22:26 [Message] fib_1618 -> Chat: where, here too, we are back to a crossover buy signal
2013-10-01 16:22:53 [Message] fib_1618 -> Chat: we also see that the NYSE Composite breadth MCSUM is already back to higher highs now and leading the commons
2013-10-01 16:23:20 [Message] fib_1618 -> Chat: but until we break above the blip resistance level here on the MCO
2013-10-01 16:23:37 [Message] fib_1618 -> Chat: we could see another day or so of lethargic behavior
2013-10-01 16:23:43 [Message] fib_1618 -> Chat: but nothing that would indicate a sell off
2013-10-01 16:24:15 [Message] fib_1618 -> Chat: new recovery price highs today on the NASDAQ Composite Index
2013-10-01 16:24:44 [Message] fib_1618 -> Chat: and we are now less than 185 points away from reaching our upside target of 4000
2013-10-01 16:24:55 [Message] fib_1618 -> Chat: looking at the NASDAQ breadth MCO
2013-10-01 16:25:14 [Message] fib_1618 -> Chat: and we can only see the structure challenging its blip resistance area
2013-10-01 16:25:31 [Message] fib_1618 -> Chat: but as we look at the NASDAQ breadth MCSUM
2013-10-01 16:25:41 [Message] fib_1618 -> Chat: this challenge was enough to drive the pattern to higher highs
2013-10-01 16:26:01 [Message] fib_1618 -> Chat: this would then suggest that we're likely to see upside follow through on the MCO in the next couple of trading sessions
2013-10-01 16:26:13 [Message] fib_1618 -> Chat: and here too
2013-10-01 16:26:28 [Message] fib_1618 -> Chat: the NASDAQ MCO components moved back to a crossover buy signal today
2013-10-01 16:27:01 [Message] fib_1618 -> Chat: new recovery price highs as well on the NDX
2013-10-01 16:27:13 [Message] fib_1618 -> Chat: with the NDX breadth MCO moving back above its zero line
2013-10-01 16:27:33 [Message] fib_1618 -> Chat: after finding spike support at...
2013-10-01 16:27:34 [Message] fib_1618 -> Chat: that's right
2013-10-01 16:27:37 [Message] fib_1618 -> Chat: the -25 level
2013-10-01 16:27:47 [Message] fib_1618 -> Chat: so we're on a buy spike watch here too
2013-10-01 16:28:16 [Message] fib_1618 -> Chat: all we have to do here is to move above last weeks rally failure point
2013-10-01 16:28:27 [Message] fib_1618 -> Chat: and the buy spike will be triggered
2013-10-01 16:29:04 [Message] fib_1618 -> Chat: what makes this one most interesting is the where we currently reside on the NDX breadth MCSUM
2013-10-01 16:29:11 [Message] fib_1618 -> Chat: for if we do get a buy spike here
2013-10-01 16:29:20 [Message] fib_1618 -> Chat: the previous two tops will certainly be taken out
2013-10-01 16:29:24 [Message] fib_1618 -> Chat: which also means
2013-10-01 16:30:00 [Message] fib_1618 -> Chat: any MCSUM pattern that continues to maintain a declining tops line will also be successful in moving above this same line of negative influence with this buy spike
2013-10-01 16:30:43 [Message] fib_1618 -> Chat: the SPX breadth MCO moved sharply higher today after moving to a minimally "oversold" reading of -54 on Monday
2013-10-01 16:31:06 [Message] fib_1618 -> Chat: and with the SPX breadth MCSUM now challenging support at the +500 level
2013-10-01 16:31:21 [Message] fib_1618 -> Chat: it will be fairly important for the bulls to continue to look for support at these levels
2013-10-01 16:31:26 [Message] fib_1618 -> Chat: and if successful
2013-10-01 16:31:39 [Message] fib_1618 -> Chat: another upside sequence in the MCSUM will likely take place
2013-10-01 16:32:20 [Message] fib_1618 -> Chat: no crossover buy though on the SPX MCO components
2013-10-01 16:32:37 [Message] fib_1618 -> Chat: so we're waiting for a bit more confirmation there
2013-10-01 16:33:12 [Message] fib_1618 -> Chat: the one thing though that the bulls can work with here is that prior to this pullback in the MCO
2013-10-01 16:33:20 [Message] fib_1618 -> Chat: it did move to new 52 week highs
2013-10-01 16:33:30 [Message] fib_1618 -> Chat: so just on a technical basis alone
2013-10-01 16:33:36 [Message] fib_1618 -> Chat: we should see higher price highs short term
2013-10-01 16:33:50 [Message] fib_1618 -> Chat: to at least provide some negative momentum divergence to the pattern
2013-10-01 16:34:19 [Message] fib_1618 -> Chat: the OEX breadth MCO also spiked higher today
2013-10-01 16:34:35 [Message] fib_1618 -> Chat: from a deeper "oversold" reading of -69
2013-10-01 16:34:44 [Message] fib_1618 -> Chat: but like the SPX
2013-10-01 16:35:17 [Message] fib_1618 -> Chat: we'll first need to break above last weeks blip in the pattern before we'll be comfortable that a bottom has been created
2013-10-01 16:35:34 [Message] fib_1618 -> Chat: looking at the OEX components
2013-10-01 16:35:43 [Message] fib_1618 -> Chat: and we see a pretty predictable situation
2013-10-01 16:35:57 [Message] fib_1618 -> Chat: with the 10% Trend snapping back up towards its zero line
2013-10-01 16:36:11 [Message] fib_1618 -> Chat: while the 5% Trend bounces higher off this same line of neutrality
2013-10-01 16:36:15 [Message] fib_1618 -> Chat: overall
2013-10-01 16:36:21 [Message] fib_1618 -> Chat: all of this remains corrective activity
2013-10-01 16:36:34 [Message] fib_1618 -> Chat: and like the SPX breadth MCSUM
2013-10-01 16:36:52 [Message] fib_1618 -> Chat: the OEX breadth MCSUM is also in the process of challenging its +500 level as well
2013-10-01 16:37:08 [Message] fib_1618 -> Chat: so the buyers are hoping for continued support of the pattern
2013-10-01 16:37:13 [Message] fib_1618 -> Chat: BTW
2013-10-01 16:37:23 [Message] fib_1618 -> Chat: there will probably be no jobs numbers on Friday
2013-10-01 16:37:24 [Message] fib_1618 -> Chat: so
2013-10-01 16:37:46 [Message] fib_1618 -> Chat: tomorrows ADP could be the big piece of data from which the market will trade by for this week
2013-10-01 16:38:28 [Message] fib_1618 -> Chat: the Dow breadth MCO and its components remain on a sell signal
2013-10-01 16:38:58 [Message] fib_1618 -> Chat: with the Dow breadth MCSUM will look to challenge its zero line now
2013-10-01 16:39:20 [Message] fib_1618 -> Chat: like all of the other MCO's
2013-10-01 16:39:56 [Message] fib_1618 -> Chat: the main focus here with the Dow is whether, and how soon, the pattern will be able to move back above its blip resistance point of last week
2013-10-01 16:40:06 [Message] fib_1618 -> Chat: if successful
2013-10-01 16:40:29 [Message] fib_1618 -> Chat: then the character of the market will be much more firm than it has been over the last week or so
2013-10-01 16:40:54 [Message] fib_1618 -> Chat: new all time high close in the MID price chart today
2013-10-01 16:41:17 [Message] fib_1618 -> Chat: and the MID breadth MCO also pushed to recovery highs with this break confirming the move
2013-10-01 16:41:35 [Message] fib_1618 -> Chat: note that we found great zero line support before we launched higher today in the MCO
2013-10-01 16:41:57 [Message] fib_1618 -> Chat: which tells us that there very little selling going on in this basket of stocks
2013-10-01 16:42:28 [Message] fib_1618 -> Chat: and today's push on the buy side has now provided another post expansion to the upside in the MID breadth MCSUM
2013-10-01 16:42:55 [Message] fib_1618 -> Chat: with the next target continuing to be the +750 level for this sequence
2013-10-01 16:45:20 [Message] fib_1618 -> Chat: taking ruler to monitor
2013-10-01 16:45:43 [Message] fib_1618 -> Chat: and we see that the declining tops line here on the MID breadth MCSUM crosses at around the +1000 level
2013-10-01 16:46:05 [Message] fib_1618 -> Chat: so it wouldn't be too surprising if we see this MCSUM slice through the +750 level toward this ultimate challenge
2013-10-01 16:46:36 [Message] fib_1618 -> Chat: OK...the SML breadth MCO not only moved above last weeks highs today
2013-10-01 16:46:46 [Message] fib_1618 -> Chat: but it also moved above our blip resistance point as well
2013-10-01 16:46:56 [Message] fib_1618 -> Chat: so with today's new all time high close in the SML
2013-10-01 16:47:08 [Message] fib_1618 -> Chat: we have good confirmation of this break to new highs
2013-10-01 16:47:48 [Message] fib_1618 -> Chat: and this may be enough to even challenge the mid September highs in the SML breadth MCO
2013-10-01 16:47:53 [Message] fib_1618 -> Chat: and if this is successful
2013-10-01 16:48:00 [Message] fib_1618 -> Chat: watch out above
2013-10-01 16:48:34 [Message] fib_1618 -> Chat: oh...
2013-10-01 16:48:40 [Message] fib_1618 -> Chat: and let's also mention
2013-10-01 16:48:48 [Message] fib_1618 -> Chat: that today's move to higher highs in the SML breadth MCO
2013-10-01 16:49:00 [Message] fib_1618 -> Chat: will now allow the SML breadth MCSUM to close its gap resistance point
2013-10-01 16:49:11 [Message] fib_1618 -> Chat: so we're basically in the clear now
2013-10-01 16:49:18 [Message] fib_1618 -> Chat: so long and strong there
2013-10-01 16:49:51 [Message] fib_1618 -> Chat: and the TM breadth MCO also moved back above its zero line today
2013-10-01 16:49:58 [Message] fib_1618 -> Chat: but until we move above the blip resistance point
2013-10-01 16:50:23 [Message] fib_1618 -> Chat: we can't rule out a near term challenge of the zero line before actually moving to higher highs
2013-10-01 16:50:24 [Message] fib_1618 -> Chat: so....
2013-10-01 16:50:41 [Message] fib_1618 -> Chat: the large caps are doing a great job of masking the broader market strength here
2013-10-01 16:51:09 [Message] fib_1618 -> Chat: as many traders are being overly gun shy in triggering a long position
2013-10-01 16:51:15 [Message] fib_1618 -> Chat: ahhh...the power of emotion
2013-10-01 16:51:40 [Message] fib_1618 -> Chat: you can lose a lot of money just by being emotional
2013-10-01 16:52:07 [Message] fib_1618 -> Chat: and between the shutdown, the debt ceiling and Obamacare
2013-10-01 16:52:16 [Message] fib_1618 -> Chat: too many are sitting on the sidelines
2013-10-01 16:52:27 [Message] fib_1618 -> Chat: waiting for the proverbial other shoe to drop
2013-10-01 16:52:29 [Message] fib_1618 -> Chat: and meanwhile
2013-10-01 16:52:36 [Message] thespookyone -> Chat: not for my taste LOL
2013-10-01 16:52:56 [Message] fib_1618 -> Chat: the lesser appreciated issues are showing the way
2013-10-01 16:53:09 [Message] fib_1618 -> Chat: let's see if we have volume confirmation
2013-10-01 16:53:13 [Message] thespookyone -> Chat: don't want the bus weighed down..
2013-10-01 16:53:27 [Message] fib_1618 -> Chat: or too many seats on the train
2013-10-01 16:53:43 [Message] fib_1618 -> Chat: you know
2013-10-01 16:53:50 [Message] fib_1618 -> Chat: if you're in this business long enough
2013-10-01 16:54:03 [Message] fib_1618 -> Chat: you see things that you would think would never happen
2013-10-01 16:54:19 [Message] fib_1618 -> Chat: and those who haven't
2013-10-01 16:54:24 [Message] fib_1618 -> Chat: or think this time it will be different
2013-10-01 16:54:39 [Message] fib_1618 -> Chat: keep themselves from being a technician
2013-10-01 16:54:52 [Message] fib_1618 -> Chat: and...
2013-10-01 16:55:11 [Message] fib_1618 -> Chat: I have a question
2013-10-01 16:55:37 [Message] fib_1618 -> Chat: I've been reading in the last couple of days on how "everyone" is looking at this as a bullish opportunity
2013-10-01 16:55:49 [Message] fib_1618 -> Chat: and all I'm hearing is just the opposite
2013-10-01 16:55:55 [Message] fib_1618 -> Chat: am I missing something?
2013-10-01 16:56:34 [Message] fib_1618 -> Chat: I guess I'm not watching enough of the business channels? [wink]
2013-10-01 16:56:53 [Message] fib_1618 -> Chat: back to the volume MCO data
2013-10-01 16:57:13 [Message] fib_1618 -> Chat: and we see that the NYSE CO volume MCO is still lagging a bit from its breadth cousin on the snapback
2013-10-01 16:57:34 [Message] fib_1618 -> Chat: but we also note that we moved to a -49 level on Monday
2013-10-01 16:57:57 [Message] fib_1618 -> Chat: which, with this indicator, suggests an minimal "oversold" condition
2013-10-01 16:58:15 [Message] fib_1618 -> Chat: looking at the MCO components here
2013-10-01 16:58:28 [Message] fib_1618 -> Chat: and we see that there's still not a lot of conviction of a turn as yet
2013-10-01 16:58:53 [Message] fib_1618 -> Chat: so here it would be prudent to wait for some further information before proceeding
2013-10-01 16:59:29 [Message] fib_1618 -> Chat: pretty much the same situation with the NYSE Composite volume MCO and MCSUM
2013-10-01 16:59:46 [Message] fib_1618 -> Chat: but here we see that the MCSUM wasn't able to move back above the +500 level
2013-10-01 16:59:58 [Message] fib_1618 -> Chat: so the buyers really need to step in now
2013-10-01 17:00:21 [Message] fib_1618 -> Chat: in order for there to be a cushion in case of any near term surprises
2013-10-01 17:00:39 [Message] fib_1618 -> Chat: this is also shows us something in which we've already pointed out earlier
2013-10-01 17:00:41 [Message] fib_1618 -> Chat: and that is
2013-10-01 17:00:52 [Message] fib_1618 -> Chat: that with breadth leading to the upside here
2013-10-01 17:00:55 [Message] fib_1618 -> Chat: and the trend of volume lagging
2013-10-01 17:01:27 [Message] fib_1618 -> Chat: that much of any buying is then being focused in the broader cap areas than it is in the larger "cream" stocks
2013-10-01 17:02:16 [Message] fib_1618 -> Chat: so, in theory, this divergence between breadth and volume on the NYSE should be remedied once the issues that make up the OEX begin to show a bit more vigor
2013-10-01 17:03:10 [Message] fib_1618 -> Chat: the NASDAQ volume MCO is also in need of some added strength here to keep the ball rolling in the NASDAQ volume MCSUM
2013-10-01 17:03:32 [Message] fib_1618 -> Chat: though our target of +1250 is still on the table to be worked with
2013-10-01 17:03:43 [Message] fib_1618 -> Chat: in order to have a chance to move above this level though
2013-10-01 17:03:58 [Message] fib_1618 -> Chat: we will need to see the NASDAQ volume MCO move above its blip resistance level
2013-10-01 17:04:12 [Message] fib_1618 -> Chat: so we'll keep an on eye on that one
2013-10-01 17:04:36 [Message] fib_1618 -> Chat: speaking of reaching an upside MCSUM target
2013-10-01 17:04:50 [Message] fib_1618 -> Chat: the NDX volume MCSUM is now within range of its +1250 level
2013-10-01 17:05:28 [Message] fib_1618 -> Chat: with any break above the blip resistance level on the NDX volume MCO being needed to see any further highs after that
2013-10-01 17:05:30 [Message] fib_1618 -> Chat: and by the way
2013-10-01 17:05:59 [Message] fib_1618 -> Chat: if we are able to move above the +1250 level here and on the NASDAQ volume MCSUM
2013-10-01 17:06:15 [Message] fib_1618 -> Chat: that would then open the door for a test of the all time highs in both of these indices
2013-10-01 17:06:27 [Message] fib_1618 -> Chat: more so for the composite than with the NDX
2013-10-01 17:06:41 [Message] fib_1618 -> Chat: but as we've seen a couple of times in the last 20 years
2013-10-01 17:06:58 [Message] fib_1618 -> Chat: the NDX can play catch up pretty quickly once there's enough of an incentive to do so
2013-10-01 17:07:08 [Message] fib_1618 -> Chat: so we'll see how that goes
2013-10-01 17:07:38 [Message] fib_1618 -> Chat: the volume data on the SPX remains negative for now
2013-10-01 17:07:43 [Message] fib_1618 -> Chat: in fact
2013-10-01 17:08:03 [Message] fib_1618 -> Chat: look at the way we gaped down and through the +500 level on Friday
2013-10-01 17:08:05 [Message] fib_1618 -> Chat: BTW
2013-10-01 17:08:55 [Message] fib_1618 -> Chat: we really didn't talk about it too much, but that was one of the more active quarterly expiration Friday's we've seen in a while
2013-10-01 17:09:12 [Message] fib_1618 -> Chat: volume was literally over the top
2013-10-01 17:09:35 [Message] fib_1618 -> Chat: lots of speculators got their heads handed to them I would think
2013-10-01 17:09:51 [Message] fib_1618 -> Chat: anyway
2013-10-01 17:10:02 [Message] fib_1618 -> Chat: another deeply "oversold" reading as well on the OEX volume MCO
2013-10-01 17:10:27 [Message] fib_1618 -> Chat: so all we need now is some follow through here near term
2013-10-01 17:10:41 [Message] fib_1618 -> Chat: and we'll likely to see new recovery price highs on the OEX pretty quickly
2013-10-01 17:11:17 [Message] fib_1618 -> Chat: moving to the Dow volume MCSUM
2013-10-01 17:11:34 [Message] fib_1618 -> Chat: and notice how congested the downside sequence has been so far
2013-10-01 17:11:43 [Message] fib_1618 -> Chat: showing a lack of conviction by the sellers
2013-10-01 17:11:47 [Message] fib_1618 -> Chat: or more aptly put
2013-10-01 17:12:13 [Message] fib_1618 -> Chat: there was more of a buyers strike that kind of forced the hands of any open longs out there to close their positions
2013-10-01 17:12:39 [Message] fib_1618 -> Chat: same pattern on the MID volume MCO as there is on the breadth side
2013-10-01 17:12:55 [Message] fib_1618 -> Chat: but here we see that the MID volume MCSUM is definitely lagging the pace of its breadth cousin
2013-10-01 17:13:13 [Message] fib_1618 -> Chat: that will need to change if there's going to be any longevity to this current upside sequence
2013-10-01 17:13:41 [Message] fib_1618 -> Chat: we have SML volume MCO confirmation here as well to match the breadth numbers
2013-10-01 17:13:48 [Message] fib_1618 -> Chat: so long and strong remains with this basket of issues
2013-10-01 17:14:12 [Message] fib_1618 -> Chat: especially if we see another expansion post to the upside on Wednesday in the SML volume MCSUM
2013-10-01 17:14:56 [Message] fib_1618 -> Chat: and an upside zero line snapback now complete on the TM volume MCO
2013-10-01 17:15:13 [Message] fib_1618 -> Chat: coming right off the -25 level
2013-10-01 17:15:23 [Message] fib_1618 -> Chat: no such thing as a buy spike for volume
2013-10-01 17:15:43 [Message] fib_1618 -> Chat: but it sure doesn't hurt if we see a duplicate structure to help out the breadth side of the equation
2013-10-01 17:15:45 [Message] fib_1618 -> Chat: so....
2013-10-01 17:15:59 [Message] fib_1618 -> Chat: overall today was a statement day for the bulls
2013-10-01 17:16:27 [Message] fib_1618 -> Chat: but they didn't quite get the attention of those in the back of the room
2013-10-01 17:16:47 [Message] fib_1618 -> Chat: the MID and SML continue to show good money flow characteristics
2013-10-01 17:17:00 [Message] fib_1618 -> Chat: but the large caps continue to be choppy
2013-10-01 17:17:14 [Message] fib_1618 -> Chat: wanting to participate
2013-10-01 17:17:19 [Message] fib_1618 -> Chat: but at the same time
2013-10-01 17:17:28 [Message] fib_1618 -> Chat: not really wanting to get involved
2013-10-01 17:17:42 [Message] fib_1618 -> Chat: let's see how the volume oscillators look
2013-10-01 17:18:15 [Message] fib_1618 -> Chat: after moving to climactic numbers on Monday
2013-10-01 17:18:32 [Message] fib_1618 -> Chat: the OEX and Dow CVI's bounced nicely higher today
2013-10-01 17:18:51 [Message] fib_1618 -> Chat: with the SPX and NDX CVI's not showing as much selling weakness though
2013-10-01 17:19:20 [Message] fib_1618 -> Chat: so this would suggest that its the top 100 issues on the NYSE that are keeping things muted for now
2013-10-01 17:19:41 [Message] fib_1618 -> Chat: the SPX, OEX and Dow STVO's remain "oversold"
2013-10-01 17:19:49 [Message] fib_1618 -> Chat: the VTO's remain in trending mode
2013-10-01 17:20:16 [Message] fib_1618 -> Chat: and should continue to find support between the +20 and +25 levels
2013-10-01 17:20:27 [Message] fib_1618 -> Chat: NYSE TRIN at .69
2013-10-01 17:20:56 [Message] fib_1618 -> Chat: and we finally got a bounce today in the NYSE Open 10 to a 1.44 reading
2013-10-01 17:21:11 [Message] fib_1618 -> Chat: but still ridiculously "oversold"
2013-10-01 17:21:15 [Message] fib_1618 -> Chat: and once this is released
2013-10-01 17:21:35 [Message] fib_1618 -> Chat: we can pretty much bet that we're going to see a rally that may last a couple of weeks
2013-10-01 17:21:44 [Message] fib_1618 -> Chat: and if history is any indication
2013-10-01 17:21:58 [Message] fib_1618 -> Chat: maybe see gains of anywhere from 7-10% in that time frame
2013-10-01 17:22:32 [Message] fib_1618 -> Chat: note also that the 10 day SMA of the NYSE TRIN is also at levels where we've seen price bottoms in the past with a 1.27 reading
2013-10-01 17:22:57 [Message] fib_1618 -> Chat: so, if anything, the NYSE has been trashed
2013-10-01 17:23:00 [Message] fib_1618 -> Chat: and still
2013-10-01 17:23:26 [Message] fib_1618 -> Chat: we're only 2% away from new recovery highs in the NYA
2013-10-01 17:23:42 [Message] fib_1618 -> Chat: NASDAQ TRIN at .76
2013-10-01 17:23:55 [Message] fib_1618 -> Chat: Open 10 is neutral at .90
2013-10-01 17:24:18 [Message] fib_1618 -> Chat: TM TRIN at .70
2013-10-01 17:24:32 [Message] fib_1618 -> Chat: so it looks like we had some short covering today...not a lot though
2013-10-01 17:24:42 [Message] fib_1618 -> Chat: Open 10 at 1.04
2013-10-01 17:24:48 [Message] fib_1618 -> Chat: "oversold"
2013-10-01 17:24:50 [Message] fib_1618 -> Chat: so....
2013-10-01 17:25:00 [Message] fib_1618 -> Chat: as I mentioned in a post yesterday
2013-10-01 17:25:18 [Message] fib_1618 -> Chat: the market is sitting on an "oversold" powder keg that's waiting for the fuse to be lit
2013-10-01 17:25:30 [Message] fib_1618 -> Chat: once the wheels are put into motion
2013-10-01 17:25:49 [Message] fib_1618 -> Chat: it's highly likely that we're going to see new price highs in virtually all of the major market indices
2013-10-01 17:25:56 [Message] fib_1618 -> Chat: so much so
2013-10-01 17:26:28 [Message] fib_1618 -> Chat: that we'll probably start discussing what it will need to happen for those indices that have not yet moved to new all time highs what will need to happen to get there
2013-10-01 17:26:35 [Message] fib_1618 -> Chat: those indices include
2013-10-01 17:26:37 [Message] fib_1618 -> Chat: the NYA
2013-10-01 17:26:39 [Message] fib_1618 -> Chat: the NDX
2013-10-01 17:26:44 [Message] fib_1618 -> Chat: the COMPQ
2013-10-01 17:26:49 [Message] fib_1618 -> Chat: and, of course, the OEX
2013-10-01 17:26:57 [Message] fib_1618 -> Chat: for now
2013-10-01 17:27:08 [Message] fib_1618 -> Chat: as the BETS has been saying for several weeks now
2013-10-01 17:27:23 [Message] fib_1618 -> Chat: long accumulations remain the best blueprint for now...but now with more of a bullish bias
2013-10-01 17:27:34 [Message] fib_1618 -> Chat: anything else?
2013-10-01 17:28:06 [Message] fib_1618 -> Chat: OK...everyone can wake up now [smile]
2013-10-01 17:29:07 [Message] fib_1618 -> Chat: or not
2013-10-01 17:29:43 [Message] thespookyone -> Chat: LOL
2013-10-01 17:30:02 [Message] fib_1618 -> Chat: let me check the BETS number
2013-10-01 17:31:11 [Message] fib_1618 -> Chat: new highs in the NAAD line
2013-10-01 17:31:49 [Message] fib_1618 -> Chat: +40 on the BETS
2013-10-01 17:31:59 [Message] fib_1618 -> Chat: new highs on the NAUD
2013-10-01 17:32:11 [Message] fib_1618 -> Chat: so the secondaries, MID and SML are the place to be
2013-10-01 17:32:18 [Message] fib_1618 -> Chat: growth
2013-10-01 17:32:22 [Message] fib_1618 -> Chat: not value
2013-10-01 17:32:29 [Message] fib_1618 -> Chat: this also means
2013-10-01 17:32:49 [Message] fib_1618 -> Chat: that liquidity remains plentiful enough for these same areas of investment to even see the light of day
2013-10-01 17:33:09 [Message] fib_1618 -> Chat: there's just too much money floating around out there for the sellers to do anything more than least for now
2013-10-01 17:33:34 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-10-01 17:33:39 [Message] fib_1618 -> Chat: I'm going to take off
2013-10-01 17:33:45 [Message] fib_1618 -> Chat: everyone have a great couple of days
2013-10-01 17:33:54 [Message] fib_1618 -> Chat: and we'll see how things look again on Thursday
2013-10-01 17:33:55 [Message] fib_1618 -> Chat: good night

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