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Posts: 4,883
Reply with quote  #1 
2013-10-17 16:00:52 [Message] fib_1618 -> Chat: good day
2013-10-17 16:00:58 [Message] fib_1618 -> Chat: how is everyone?
2013-10-17 16:03:13 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started?
2013-10-17 16:03:29 [Message] fib_1618 -> Chat: me thinks we got our breakout on the MCO's today
2013-10-17 16:03:33 [Message] fib_1618 -> Chat: [smile]
2013-10-17 16:04:44 [Message] fib_1618 -> Chat: OK...let's get DP up and get started
2013-10-17 16:05:13 [Message] fib_1618 -> Chat: after snapping back to the zero line on Tuesday
2013-10-17 16:05:26 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO did indeed move to new highs today
2013-10-17 16:05:52 [Message] fib_1618 -> Chat: as it settled today above minimally "overbought" with a +57 reading
2013-10-17 16:06:16 [Message] fib_1618 -> Chat: this surge higher pushed the NYSE CO breadth MCSUM out of its ledge formation
2013-10-17 16:06:27 [Message] fib_1618 -> Chat: and we're now seeing money moving in at an accelerated rate
2013-10-17 16:06:49 [Message] fib_1618 -> Chat: looking at the close up 21 day chart
2013-10-17 16:07:00 [Message] fib_1618 -> Chat: and you can see the breadth of today's expansion
2013-10-17 16:07:30 [Message] fib_1618 -> Chat: as we have almost closed the gap resistance point in which we talked about on Wednesday
2013-10-17 16:07:57 [Message] fib_1618 -> Chat: putting ruler to monitor
2013-10-17 16:08:18 [Message] fib_1618 -> Chat: and it looks like that the declining tops line on the NYSE CO breadth MCSUM intersects at around the +550 level
2013-10-17 16:08:30 [Message] fib_1618 -> Chat: so we still have a ways to go before that important test
2013-10-17 16:08:34 [Message] fib_1618 -> Chat: but for now
2013-10-17 16:08:48 [Message] fib_1618 -> Chat: we got the follow through that was needed by the buyers today
2013-10-17 16:09:09 [Message] fib_1618 -> Chat: so our next goal is likely to be a test of the all time highs on the NYA at around the 10,300 level
2013-10-17 16:09:30 [Message] fib_1618 -> Chat: another thing to look for this weekend
2013-10-17 16:09:40 [Message] fib_1618 -> Chat: is that if prices settle at this levels on Friday
2013-10-17 16:10:09 [Message] fib_1618 -> Chat: we will have then fully met the upside price target of 9800 (or so) given by the breakout of the symmetrical triangle back in November of last year
2013-10-17 16:10:26 [Message] fib_1618 -> Chat: where in order to get higher price targets
2013-10-17 16:10:45 [Message] fib_1618 -> Chat: we will need to see these same declining tops line violated on the various MCSUM's
2013-10-17 16:11:03 [Message] fib_1618 -> Chat: moving to the NYSE composite breadth MCO
2013-10-17 16:11:17 [Message] fib_1618 -> Chat: and it had an important day today
2013-10-17 16:11:24 [Message] fib_1618 -> Chat: as it not only broke to the upside
2013-10-17 16:11:50 [Message] fib_1618 -> Chat: but we also took out the bear's last stand point in the MCO of the last September peak
2013-10-17 16:12:11 [Message] fib_1618 -> Chat: this then cancels all downside targets given by this same MCO 2 weeks ago
2013-10-17 16:12:19 [Message] fib_1618 -> Chat: and it we now have new upside targets to work with
2013-10-17 16:12:49 [Message] fib_1618 -> Chat: which looks to be about 500 or so points from today's close
2013-10-17 16:12:53 [Message] fib_1618 -> Chat: interestingly enough
2013-10-17 16:13:18 [Message] fib_1618 -> Chat: adding 500 points to today's close of 9934 puts us in around the all time highs in the NYA
2013-10-17 16:13:35 [Message] fib_1618 -> Chat: so we're getting added confirmation here of what to expect with this sequence
2013-10-17 16:13:46 [Message] fib_1618 -> Chat: and this will be added to our new blueprint moving forward
2013-10-17 16:14:10 [Message] fib_1618 -> Chat: putting ruler to monitor here
2013-10-17 16:14:39 [Message] fib_1618 -> Chat: and the accelerated declining tops line seen on the NYSE breadth MCSUM intersects at just below our last top seen in the structure
2013-10-17 16:15:03 [Message] fib_1618 -> Chat: so any break above this level will likely generate an important reaction in the price pattern
2013-10-17 16:15:19 [Message] fib_1618 -> Chat: as we would be breaking above two areas of potential resistance
2013-10-17 16:15:33 [Message] fib_1618 -> Chat: now...
2013-10-17 16:16:00 [Message] fib_1618 -> Chat: when we draw a line between the May and September tops
2013-10-17 16:16:28 [Message] fib_1618 -> Chat: we see that we actually closed the day right at this longer term line of negative influence
2013-10-17 16:16:46 [Message] fib_1618 -> Chat: this then sets up the potential of multiple day event for the bulls
2013-10-17 16:17:03 [Message] fib_1618 -> Chat: where we first plow through the longer term line as soon as tomorrow
2013-10-17 16:17:12 [Message] fib_1618 -> Chat: and directly after that
2013-10-17 16:17:33 [Message] fib_1618 -> Chat: we have the double challenge as outlined above
2013-10-17 16:17:37 [Message] fib_1618 -> Chat: all in all then
2013-10-17 16:17:53 [Message] fib_1618 -> Chat: the next couple of days could show quite a bit of upside action
2013-10-17 16:18:23 [Message] fib_1618 -> Chat: as the shorts begin to once again see the error of their emotional ways and forced to cover quickly
2013-10-17 16:19:00 [Message] fib_1618 -> Chat: while others will have to make the decision to jump off the fence and finally join the party
2013-10-17 16:19:41 [Message] fib_1618 -> Chat: the NASDAQ breadth MCO also took out its structural resistance points today
2013-10-17 16:19:58 [Message] fib_1618 -> Chat: and settled the day at the +30 level
2013-10-17 16:20:13 [Message] fib_1618 -> Chat: with our snapback to zero already in place
2013-10-17 16:20:26 [Message] fib_1618 -> Chat: the expectation here is for further gains in this MCO
2013-10-17 16:20:38 [Message] fib_1618 -> Chat: which also means more money coming into the exchange
2013-10-17 16:20:53 [Message] fib_1618 -> Chat: in fact
2013-10-17 16:21:24 [Message] fib_1618 -> Chat: it wouldn't too surprising if we find ourselves at about the same levels where we see the recent double top
2013-10-17 16:21:42 [Message] fib_1618 -> Chat: and then some sort of pullback as a pause sometime early next week
2013-10-17 16:22:07 [Message] fib_1618 -> Chat: putting ruler to monitor here
2013-10-17 16:22:38 [Message] fib_1618 -> Chat: and any further strength in the NASDAQ breadth MCO will surely be enough to break above the declining tops line we see on the NASDAQ breadth MCSUM
2013-10-17 16:22:39 [Message] fib_1618 -> Chat: and with it
2013-10-17 16:23:12 [Message] fib_1618 -> Chat: we should then see a move above the +400 level where we saw our last point of pattern resistance
2013-10-17 16:23:40 [Message] fib_1618 -> Chat: the NDX breadth MCO also moved above its textural resistance points today
2013-10-17 16:24:00 [Message] fib_1618 -> Chat: which confirms the new 13 year price highs in the NDX index
2013-10-17 16:24:25 [Message] fib_1618 -> Chat: notice also that with this break to new highs in the MCO
2013-10-17 16:24:58 [Message] fib_1618 -> Chat: it becomes likely that the +500 level on the NDX breadth MCSUM will become a very important support level moving forward
2013-10-17 16:25:18 [Message] fib_1618 -> Chat: for until we break below this level
2013-10-17 16:25:25 [Message] fib_1618 -> Chat: the trend will remain higher
2013-10-17 16:25:55 [Message] fib_1618 -> Chat: the declining tops line here on the NDX breadth MCSUM comes in at around the +850 level
2013-10-17 16:26:09 [Message] fib_1618 -> Chat: so we have rather smooth sailing until we reach that target
2013-10-17 16:26:25 [Message] fib_1618 -> Chat: less any potential problems we might have at the +750 level
2013-10-17 16:26:55 [Message] fib_1618 -> Chat: new all time price close in the SPX today
2013-10-17 16:27:03 [Message] fib_1618 -> Chat: if I remember correctly
2013-10-17 16:27:36 [Message] fib_1618 -> Chat: the upside target there that was given back in late August was around 1825
2013-10-17 16:27:53 [Message] fib_1618 -> Chat: and this new high now brings this target back to the table
2013-10-17 16:28:18 [Message] fib_1618 -> Chat: and before anyone says "no way"
2013-10-17 16:28:31 [Message] fib_1618 -> Chat: it's good to know that we're only 92 points away from there now
2013-10-17 16:28:54 [Message] fib_1618 -> Chat: which is only 5% from here
2013-10-17 16:29:15 [Message] fib_1618 -> Chat: given that we have already gained that much from the lows of earlier this month
2013-10-17 16:29:22 [Message] fib_1618 -> Chat: and we didn't have a buy signal to go with it
2013-10-17 16:29:53 [Message] fib_1618 -> Chat: it would be a reasonable expectation that with the buy signal that we shouldn't have that much of a problem getting there...and maybe just as quickly
2013-10-17 16:30:16 [Message] fib_1618 -> Chat: the one thing that we have to be on guard of here is a panic situation
2013-10-17 16:30:29 [Message] fib_1618 -> Chat: and looking at the way the VIX has collapsed over the last several days
2013-10-17 16:30:37 [Message] fib_1618 -> Chat: we could see something like this occur
2013-10-17 16:31:06 [Message] fib_1618 -> Chat: as pretty much anything negative has now been tabled to at least the beginning of next year
2013-10-17 16:31:40 [Message] fib_1618 -> Chat: new recovery high close today in the OEX
2013-10-17 16:32:01 [Message] fib_1618 -> Chat: with decent trend strength supporting the breakout
2013-10-17 16:32:47 [Message] fib_1618 -> Chat: the declining tops line here on the OEX breadth MCSUM coming in at around the +500 level
2013-10-17 16:33:16 [Message] fib_1618 -> Chat: good follow through on the Dow breadth MCO
2013-10-17 16:33:31 [Message] fib_1618 -> Chat: and being that the Dow breadth MCSUM still remains under its zero line
2013-10-17 16:33:58 [Message] fib_1618 -> Chat: this would help explain why this index is not confirming all of the other major market indices at new highs right now
2013-10-17 16:34:12 [Message] fib_1618 -> Chat: so until we see a break above the declining tops line on the Dow breadth MCSUM
2013-10-17 16:34:24 [Message] fib_1618 -> Chat: and even more importantly above the zero line
2013-10-17 16:34:36 [Message] fib_1618 -> Chat: the Dow will continue to mask the strength of the broader market
2013-10-17 16:35:02 [Message] fib_1618 -> Chat: which is always preferred when we're dealing with a price trend of either direction
2013-10-17 16:35:27 [Message] fib_1618 -> Chat: the generals should only come to the front once the troops have cleared the way
2013-10-17 16:35:52 [Message] fib_1618 -> Chat: new all time high close on the MID today
2013-10-17 16:36:28 [Message] fib_1618 -> Chat: and this was fully confirmed by the strength shown in the MID breadth MCO as it moved above its pattern resistance levels today
2013-10-17 16:37:00 [Message] fib_1618 -> Chat: the move today also was enough to power the MID breadth MCSUM to above the +500 level
2013-10-17 16:37:20 [Message] fib_1618 -> Chat: AND...
2013-10-17 16:37:28 [Message] fib_1618 -> Chat: we broke above the intermediate term declining tops line today with this effort
2013-10-17 16:38:15 [Message] fib_1618 -> Chat: with the longer term declining tops line slicing through the +850 level
2013-10-17 16:38:19 [Message] fib_1618 -> Chat: so a good day there
2013-10-17 16:38:38 [Message] fib_1618 -> Chat: but still we have some unfinished business to deal with in about a week
2013-10-17 16:38:45 [Message] fib_1618 -> Chat: oh...if you haven't heard
2013-10-17 16:39:14 [Message] fib_1618 -> Chat: they are releasing the jobs numbers on Tuesday, 10/22
2013-10-17 16:39:52 [Message] fib_1618 -> Chat: which fits in nicely with all of the technical timing we've been discussing this evening
2013-10-17 16:40:19 [Message] fib_1618 -> Chat: as it could provide a point of reversal after a two day acceleration
2013-10-17 16:40:21 [Message] fib_1618 -> Chat: OR
2013-10-17 16:40:26 [Message] fib_1618 -> Chat: we could power higher on Friday
2013-10-17 16:40:29 [Message] fib_1618 -> Chat: pullback on Monday
2013-10-17 16:40:38 [Message] fib_1618 -> Chat: and then move to higher highs on the data on Tuesday
2013-10-17 16:40:43 [Message] fib_1618 -> Chat: regardless
2013-10-17 16:40:52 [Message] fib_1618 -> Chat: we'll continue to take this day by day
2013-10-17 16:41:07 [Message] fib_1618 -> Chat: with the markets bias of higher highs probable
2013-10-17 16:41:27 [Message] fib_1618 -> Chat: the SML breadth MCO also moved to higher highs today
2013-10-17 16:41:38 [Message] fib_1618 -> Chat: and this took out all of its resistance points in the MCO
2013-10-17 16:41:52 [Message] fib_1618 -> Chat: we also closed just above the +500 level today in the SML breadth MCSUM
2013-10-17 16:42:27 [Message] fib_1618 -> Chat: so it would be preferred to see a continuation of what we saw today on Friday so that we can actually pull away from this area of natural MCSUM resistance
2013-10-17 16:42:59 [Message] fib_1618 -> Chat: and new all time high close on the Wilshire 5000 today
2013-10-17 16:43:23 [Message] fib_1618 -> Chat: and this was confirmed by the upside break to new reaction highs in the TM breadth MCO
2013-10-17 16:43:27 [Message] fib_1618 -> Chat: so...
2013-10-17 16:43:47 [Message] fib_1618 -> Chat: a great day for the bulls as they have now fully wrestled control back from the bears
2013-10-17 16:44:15 [Message] fib_1618 -> Chat: and this should be enough to move the market higher for the rest of the month
2013-10-17 16:44:28 [Message] fib_1618 -> Chat: looking at the sectors
2013-10-17 16:44:48 [Message] fib_1618 -> Chat: and the XLY breadth MCO also moved to new reaction highs today
2013-10-17 16:45:04 [Message] fib_1618 -> Chat: as it settled today with a +42 reading
2013-10-17 16:45:12 [Message] fib_1618 -> Chat: so not "overbought" at all
2013-10-17 16:46:08 [Message] fib_1618 -> Chat: and this will help to define the difference between a simple fishhook from that of a turn and go in the XLY breadth MCSUM
2013-10-17 16:46:44 [Message] fib_1618 -> Chat: a nice show of strength today in the XLP breadth MCO
2013-10-17 16:46:55 [Message] fib_1618 -> Chat: as the XLP is again challenging its all time highs
2013-10-17 16:47:11 [Message] fib_1618 -> Chat: in fact
2013-10-17 16:47:23 [Message] fib_1618 -> Chat: the XLP price pattern looks a bit like the NYAD line right now
2013-10-17 16:47:42 [Message] fib_1618 -> Chat: that of an ascending triangle formation
2013-10-17 16:48:04 [Message] fib_1618 -> Chat: from where this patterns generally break out in the direction of rising support
2013-10-17 16:48:44 [Message] fib_1618 -> Chat: putting ruler to monitor here
2013-10-17 16:49:09 [Message] fib_1618 -> Chat: and the declining tops line here in the XLP breadth MCSUM seems to intersect at the zero line
2013-10-17 16:49:16 [Message] fib_1618 -> Chat: so we'll keep an eye on this one
2013-10-17 16:49:45 [Message] fib_1618 -> Chat: I do believe that's an all time high close in the XLE we have there
2013-10-17 16:50:28 [Message] fib_1618 -> Chat: and this is being confirmed by both the XLE breadth MCO by it making higher highs in this specific sequence
2013-10-17 16:50:32 [Message] fib_1618 -> Chat: but more importantly
2013-10-17 16:51:13 [Message] fib_1618 -> Chat: we have had enough strength now in the last week to break above the declining tops line seen on the chart connecting the May, July and September highs
2013-10-17 16:51:21 [Message] fib_1618 -> Chat: and this mean only one thing
2013-10-17 16:51:36 [Message] fib_1618 -> Chat: that money is expecting an expansion in the economy moving forward
2013-10-17 16:51:38 [Message] fib_1618 -> Chat: and with it
2013-10-17 16:51:54 [Message] fib_1618 -> Chat: the cost of energy will increase with this continued expansion
2013-10-17 16:52:28 [Message] fib_1618 -> Chat: new recovery price highs in the XLF today
2013-10-17 16:52:39 [Message] fib_1618 -> Chat: which is being confirmed by the internals
2013-10-17 16:52:56 [Message] fib_1618 -> Chat: with higher highs in the XLF breadth MCO
2013-10-17 16:53:31 [Message] fib_1618 -> Chat: oh..and we did break above the declining tops line on the XLF breadth MCSUM as well
2013-10-17 16:53:35 [Message] fib_1618 -> Chat: so that's a buy
2013-10-17 16:53:56 [Message] fib_1618 -> Chat: or at least the leader would be a buy
2013-10-17 16:53:59 [Message] fib_1618 -> Chat: I wonder what it is..
2013-10-17 16:54:04 [Message] fib_1618 -> Chat: let me check DP
2013-10-17 16:54:38 [Message] fib_1618 -> Chat: hmmm...ETRADE
2013-10-17 16:55:15 [Message] fib_1618 -> Chat: MasterCard is now at $700
2013-10-17 16:55:53 [Message] fib_1618 -> Chat: wow..too many to mention
2013-10-17 16:56:03 [Message] fib_1618 -> Chat: this is a sector that would good to pour over this weekend
2013-10-17 16:56:12 [Message] fib_1618 -> Chat: while the rest of the market was correcting
2013-10-17 16:56:27 [Message] fib_1618 -> Chat: many of the issues here have been on a nice steady stream of higher highs
2013-10-17 16:56:44 [Message] fib_1618 -> Chat: or you can just play the basket
2013-10-17 16:56:58 [Message] fib_1618 -> Chat: not surprisingly
2013-10-17 16:57:03 [Message] fib_1618 -> Chat: new all time highs in the XLV
2013-10-17 16:57:09 [Message] fib_1618 -> Chat: as Obamacare was upheld in the budget
2013-10-17 16:58:04 [Message] fib_1618 -> Chat: so, I guess, we'll have to see how the public accepts or rejects socialize medicine
2013-10-17 16:58:13 [Message] fib_1618 -> Chat: the market though thinks it's great
2013-10-17 16:58:19 [Message] fib_1618 -> Chat: so who are we to argue?
2013-10-17 16:58:56 [Message] fib_1618 -> Chat: we see that the XLB breadth MCO still remains under its resistance points
2013-10-17 16:59:20 [Message] fib_1618 -> Chat: so there's nothing much there to work with 
2013-10-17 16:59:57 [Message] fib_1618 -> Chat: in spite of the dollar collapsing today which pushed gold up $36
2013-10-17 17:00:20 [Message] fib_1618 -> Chat: boy...every time I look at that sector I get the willies
2013-10-17 17:00:33 [Message] fib_1618 -> Chat: there's nothing there at all that suggests a bottom
2013-10-17 17:00:43 [Message] fib_1618 -> Chat: just an accident waiting to happen
2013-10-17 17:00:58 [Message] fib_1618 -> Chat: and my fear here is day's like this are going to suck in anxious gold bugs
2013-10-17 17:01:08 [Message] fib_1618 -> Chat: and they'll again get hit holding the bag
2013-10-17 17:01:35 [Message] fib_1618 -> Chat: hopefully this time will be different and I can called wrong
2013-10-17 17:01:50 [Message] fib_1618 -> Chat: oh
2013-10-17 17:01:52 [Message] fib_1618 -> Chat: hold it folks
2013-10-17 17:01:55 [Message] fib_1618 -> Chat: I'm very sorry
2013-10-17 17:02:06 [Message] fib_1618 -> Chat: I was looking at the XLI breadth MCO
2013-10-17 17:02:09 [Message] fib_1618 -> Chat: and not the XLB
2013-10-17 17:02:12 [Message] fib_1618 -> Chat: very sorry
2013-10-17 17:02:15 [Message] fib_1618 -> Chat: OK...
2013-10-17 17:02:17 [Message] fib_1618 -> Chat: back to that one
2013-10-17 17:02:45 [Message] fib_1618 -> Chat: nothing different though from the first thought
2013-10-17 17:02:57 [Message] fib_1618 -> Chat: that we haven't moved above pattern resistance as yet
2013-10-17 17:03:22 [Message] fib_1618 -> Chat: so we'll have to watch that one as it will likely continue to play catch up given how the broader market is looking right now
2013-10-17 17:03:23 [Message] fib_1618 -> Chat: NOW...let's go to the XLB data
2013-10-17 17:03:50 [Message] fib_1618 -> Chat: and here we're starting to see good strength come in here
2013-10-17 17:03:51 [Message] fib_1618 -> Chat: however
2013-10-17 17:04:09 [Message] fib_1618 -> Chat: we still have that reaction high point seen in mid September before we'll have any chance of being in the clear
2013-10-17 17:04:24 [Message] fib_1618 -> Chat: that said
2013-10-17 17:04:33 [Message] fib_1618 -> Chat: I still don't have a good feel for the metals
2013-10-17 17:04:52 [Message] fib_1618 -> Chat: but it would definitely help if we see the XLB move to higher highs in the next couple of days
2013-10-17 17:05:19 [Message] fib_1618 -> Chat: we'll have to take a look and see which components are actually attracting money here
2013-10-17 17:06:02 [Message] fib_1618 -> Chat: not too much action with the XLK as yet
2013-10-17 17:06:27 [Message] fib_1618 -> Chat: as the XLK breadth MCSUM continues to attempt to hold at the +500 level
2013-10-17 17:07:04 [Message] fib_1618 -> Chat: so there are better places to accumulate stock for now
2013-10-17 17:07:41 [Message] fib_1618 -> Chat: and the XLU breadth MCO looks to be tracing out a complex bullish pattern structure above its zero line
2013-10-17 17:07:48 [Message] fib_1618 -> Chat: and looking at the price pattern itself
2013-10-17 17:08:18 [Message] fib_1618 -> Chat: we finally did break out of the symmetrical triangle today
2013-10-17 17:08:41 [Message] fib_1618 -> Chat: and, as expected, the pattern took its time in doing so until the XLU breadth MCSUM got closer to its zero line
2013-10-17 17:09:23 [Message] fib_1618 -> Chat: with the declining tops line there coming in at around the +100 level
2013-10-17 17:09:36 [Message] fib_1618 -> Chat: so let's check the daily volume on the breakout
2013-10-17 17:09:50 [Message] fib_1618 -> Chat: above average
2013-10-17 17:09:54 [Message] fib_1618 -> Chat: so it's likely to stick
2013-10-17 17:10:02 [Message] fib_1618 -> Chat: so we'll call this one a buy as well
2013-10-17 17:10:10 [Message] fib_1618 -> Chat: with an upside target of....
2013-10-17 17:10:43 [Message] fib_1618 -> Chat: we'll call it 42
2013-10-17 17:11:05 [Message] fib_1618 -> Chat: so about a 10% gain
2013-10-17 17:11:47 [Message] fib_1618 -> Chat: with a current yield of 4%
2013-10-17 17:11:59 [Message] fib_1618 -> Chat: not too bad for just hanging around
2013-10-17 17:12:04 [Message] fib_1618 -> Chat: so...
2013-10-17 17:12:30 [Message] fib_1618 -> Chat: we're continuing to get internal strength in many of the sectors we cover
2013-10-17 17:12:49 [Message] fib_1618 -> Chat: with the Financials, Staples, and Utilities leading the charge for now
2013-10-17 17:13:17 [Message] fib_1618 -> Chat: followed closely by Energy, Health Care and possibly Materials
2013-10-17 17:13:50 [Message] fib_1618 -> Chat: with the exception of the Dow Industrials and XMI index
2013-10-17 17:14:00 [Message] fib_1618 -> Chat: all of the other major market indices closed at new highs today
2013-10-17 17:14:07 [Message] fib_1618 -> Chat: even the Dow Transports
2013-10-17 17:14:46 [Message] fib_1618 -> Chat: and we got good breadth confirmation with these close to new highs
2013-10-17 17:14:53 [Message] fib_1618 -> Chat: let's see if the volume side continued to lead here
2013-10-17 17:15:26 [Message] fib_1618 -> Chat: good volume strength in the NYSE CO and Composite volume MCO's
2013-10-17 17:15:45 [Message] fib_1618 -> Chat: but not so much with the NASDAQ volume MCO
2013-10-17 17:15:51 [Message] fib_1618 -> Chat: and that's a bit troubling
2013-10-17 17:16:08 [Message] fib_1618 -> Chat: given that breadth has already made a commitment here
2013-10-17 17:16:20 [Message] fib_1618 -> Chat: and looking at the NDX volume MCO
2013-10-17 17:16:33 [Message] fib_1618 -> Chat: we see that it's the top 100 issues that are being shun right now
2013-10-17 17:16:44 [Message] fib_1618 -> Chat: that will need to change in the next couple of days
2013-10-17 17:16:57 [Message] fib_1618 -> Chat: or we may have a down draft hit the market
2013-10-17 17:17:04 [Message] fib_1618 -> Chat: a bit of turbulence
2013-10-17 17:17:18 [Message] fib_1618 -> Chat: though the good news there
2013-10-17 17:17:27 [Message] fib_1618 -> Chat: is that if we do get some sort of shake out
2013-10-17 17:17:58 [Message] fib_1618 -> Chat: the NASDAQ and NDX volume MCSUM's are high enough to fully absorb any damage that may come from such an event
2013-10-17 17:18:31 [Message] fib_1618 -> Chat: the SPX volume MCO is fine and confirming
2013-10-17 17:18:42 [Message] fib_1618 -> Chat: so is the OEX and Dow
2013-10-17 17:19:09 [Message] fib_1618 -> Chat: a more muted day of bullish follow through with the MID volume MCO
2013-10-17 17:19:32 [Message] fib_1618 -> Chat: as we're only challenging the recent highs in the SML volume MCO
2013-10-17 17:20:17 [Message] fib_1618 -> Chat: why we want to see more commitment here is because index prices are more closely related to the ebb and flow of the volume MCO's
2013-10-17 17:20:57 [Message] fib_1618 -> Chat: so to see it still fighting to move to reaction highs here is not in keeping in providing a stable price structure
2013-10-17 17:21:22 [Message] fib_1618 -> Chat: very much like having a ladder with one foot on solid concrete, but the other one on hard dirt
2013-10-17 17:21:28 [Message] fib_1618 -> Chat: it will hold you up
2013-10-17 17:21:32 [Message] fib_1618 -> Chat: but you may tip over if you're not careful
2013-10-17 17:21:47 [Message] fib_1618 -> Chat: so we want to see better conviction come in here near term
2013-10-17 17:21:52 [Message] fib_1618 -> Chat: let's say by Tuesday at the latest
2013-10-17 17:22:22 [Message] fib_1618 -> Chat: or the longevity of this current breakout may be shorter lived than what we may think
2013-10-17 17:22:26 [Message] fib_1618 -> Chat: in any event
2013-10-17 17:22:52 [Message] fib_1618 -> Chat: it would allow for a snapback to our recent overhead resistance areas in attempt to right the ship
2013-10-17 17:23:13 [Message] fib_1618 -> Chat: and that should once again get the shorts all excited and again set another bottom
2013-10-17 17:23:52 [Message] fib_1618 -> Chat: CVI's are now climactic
2013-10-17 17:24:06 [Message] fib_1618 -> Chat: so we should see a price top of short term duration in the next two trading days
2013-10-17 17:24:22 [Message] fib_1618 -> Chat: STVO's remain "overbought"
2013-10-17 17:24:31 [Message] fib_1618 -> Chat: VTO"s are pretty much neutral for now
2013-10-17 17:24:47 [Message] fib_1618 -> Chat: NYSE TRIN at 1.09
2013-10-17 17:24:57 [Message] fib_1618 -> Chat: Open 10 is neutral at .91
2013-10-17 17:25:08 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.28
2013-10-17 17:25:26 [Message] fib_1618 -> Chat: Open 10 now fully "oversold" at 1.12
2013-10-17 17:25:45 [Message] fib_1618 -> Chat: TM TRIN at 1.53
2013-10-17 17:25:52 [Message] fib_1618 -> Chat: that correct?
2013-10-17 17:26:05 [Message] fib_1618 -> Chat: must be ETF related (?)
2013-10-17 17:26:14 [Message] fib_1618 -> Chat: we'll have to go with it
2013-10-17 17:26:23 [Message] fib_1618 -> Chat: Open 10 at 1.06
2013-10-17 17:26:26 [Message] fib_1618 -> Chat: so...
2013-10-17 17:26:43 [Message] fib_1618 -> Chat: the bulls had a statement day today
2013-10-17 17:27:01 [Message] fib_1618 -> Chat: and generally pushed the market to new highs
2013-10-17 17:27:04 [Message] fib_1618 -> Chat: and with it
2013-10-17 17:27:12 [Message] fib_1618 -> Chat: we had good confirmation of these highs
2013-10-17 17:27:19 [Message] fib_1618 -> Chat: on the volume side
2013-10-17 17:27:40 [Message] fib_1618 -> Chat: we look like we're about to have a good old technical snapback to try to right the ship a bit
2013-10-17 17:27:47 [Message] fib_1618 -> Chat: and according to the CVI's
2013-10-17 17:27:54 [Message] fib_1618 -> Chat: this pullback should start as soon as Monday
2013-10-17 17:28:25 [Message] fib_1618 -> Chat: back to the sectors...let's look at the volume McClellan's there for a moment
2013-10-17 17:28:43 [Message] fib_1618 -> Chat: nice volume coming into the XLY
2013-10-17 17:28:50 [Message] fib_1618 -> Chat: and leading breadth to the upside
2013-10-17 17:29:01 [Message] fib_1618 -> Chat: so not as bad as we originally thought
2013-10-17 17:29:15 [Message] fib_1618 -> Chat: wow...
2013-10-17 17:29:19 [Message] fib_1618 -> Chat: XLE is strong
2013-10-17 17:29:35 [Message] fib_1618 -> Chat: and good volume participation in the XLP and XLF
2013-10-17 17:29:49 [Message] fib_1618 -> Chat: the XLV as well
2013-10-17 17:29:58 [Message] fib_1618 -> Chat: but the XLI still looks like the ugly sister here
2013-10-17 17:30:12 [Message] fib_1618 -> Chat: taken together then
2013-10-17 17:30:31 [Message] fib_1618 -> Chat: this tells us that money continues to flow into more areas of growth than they do of value
2013-10-17 17:30:38 [Message] fib_1618 -> Chat: that should change as we move along
2013-10-17 17:30:50 [Message] fib_1618 -> Chat: oh wow
2013-10-17 17:30:59 [Message] fib_1618 -> Chat: look at the volume in the XLB!
2013-10-17 17:31:12 [Message] fib_1618 -> Chat: that's another sector to look at
2013-10-17 17:31:40 [Message] fib_1618 -> Chat: the XLK looks lethargic to say the least
2013-10-17 17:32:05 [Message] fib_1618 -> Chat: and the XLU volume MCSUM is leading slightly to the upside
2013-10-17 17:32:22 [Message] fib_1618 -> Chat: with both volume and breadth MCSUM's at around their zero lines
2013-10-17 17:32:43 [Message] fib_1618 -> Chat: which would make a lot of sense since we are just breaking out of a triangle
2013-10-17 17:32:56 [Message] fib_1618 -> Chat: where the apex is pretty much on scale of that being a zero line
2013-10-17 17:33:13 [Message] fib_1618 -> Chat: I think we should re-examine the materials
2013-10-17 17:33:15 [Message] fib_1618 -> Chat: coal
2013-10-17 17:33:16 [Message] fib_1618 -> Chat: gas
2013-10-17 17:33:18 [Message] fib_1618 -> Chat: in fact
2013-10-17 17:33:36 [Message] fib_1618 -> Chat: I think I saw some action in natural gas in the last couple of days
2013-10-17 17:33:39 [Message] fib_1618 -> Chat: let me check again
2013-10-17 17:34:29 [Message] fib_1618 -> Chat: don't know where I saw it
2013-10-17 17:34:36 [Message] fib_1618 -> Chat: I'll check it later
2013-10-17 17:35:46 [Message] fib_1618 -> Chat: REITS are waking up
2013-10-17 17:36:12 [Message] fib_1618 -> Chat: looks like a lot of homework this weekend
2013-10-17 17:36:20 [Message] fib_1618 -> Chat: anything else?
2013-10-17 17:38:05 [Message] fib_1618 -> Chat: remember that the next couple of weeks we'll be back to Tuesday/Thursday sessions
2013-10-17 17:41:32 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-10-17 17:41:35 [Message] fib_1618 -> Chat: I'm going to take off
2013-10-17 17:41:40 [Message] fib_1618 -> Chat: everyone have a great weekend
2013-10-17 17:41:47 [Message] fib_1618 -> Chat: and we'll see how things are going on Tuesday
2013-10-17 17:41:48 [Message] fib_1618 -> Chat: good night

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