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Posts: 4,419
Reply with quote  #1 
2015-10-29 16:00:05 fib1618: good day
2015-10-29 16:00:08 fib1618: how is everyone?
2015-10-29 16:01:27 thespookyone: Great! and you?
2015-10-29 16:01:52 fib1618: doing fine
2015-10-29 16:02:48 thespookyone: It's funny, only had longs today, market down all day, made more today than any day this week
2015-10-29 16:03:35 fib1618: [smile]
2015-10-29 16:03:40 fib1618: crazy business
2015-10-29 16:03:46 thespookyone: it is
2015-10-29 16:03:55 fib1618: you just never know
2015-10-29 16:04:24 thespookyone: AMZN took nice care of me today. Had 625 and 630 Calls I bought cheap this week
2015-10-29 16:05:13 fib1618: [smile]
2015-10-29 16:05:25 thespookyone: What a company!
2015-10-29 16:05:30 fib1618: it's definitely a market of stocks
2015-10-29 16:05:39 thespookyone: it sure is
2015-10-29 16:05:53 fib1618: OK...any questions or comments before we get started?
2015-10-29 16:06:26 thespookyone: Was pretty hard to get into chat, may be why others are missing...
2015-10-29 16:06:41 fib1618: that's been the least of my worries today
2015-10-29 16:06:48 fib1618: my ISP has been down all day
2015-10-29 16:06:55 fib1618: just started getting mail an hour ago
2015-10-29 16:06:55 thespookyone: bummer!
2015-10-29 16:06:58 fib1618: but TW is down
2015-10-29 16:07:11 fib1618: well...wait a minute
2015-10-29 16:07:15 fib1618: that can't be
2015-10-29 16:07:18 fib1618: since we're in the chat room
2015-10-29 16:07:29 fib1618: so...that may be the problem in getting in now...sigh
2015-10-29 16:07:33 thespookyone: I used an old page to sneak in
2015-10-29 16:07:38 fib1618: let me check around
2015-10-29 16:07:52 unc1998: the forums are up...good
2015-10-29 16:07:53 fib1618: ahhhh...
2015-10-29 16:07:56 fib1618: the site is still down
2015-10-29 16:08:09 fib1618: but if you still have got in
2015-10-29 16:08:18 thespookyone: yes
2015-10-29 16:08:25 fib1618: too bad
2015-10-29 16:08:34 fib1618: another apology coming...sorry folks
2015-10-29 16:08:42 fib1618: yesterday it was the transcripts
2015-10-29 16:08:48 fib1618: and now this
2015-10-29 16:08:55 fib1618: hmmm...things run in 3's
2015-10-29 16:08:57 fib1618: ah oh
2015-10-29 16:09:35 fib1618: nope...all three of my web sites are down
2015-10-29 16:09:37 fib1618: bummer...I'll work on that later
2015-10-29 16:10:03 fib1618: OK...let's get SC up and see what we have to work with
2015-10-29 16:10:45 fib1618: after giving us an obligatory bounce on Wednesday
2015-10-29 16:10:55 fib1618: the CO NYSE breadth MCO snapped back to the zero line today
2015-10-29 16:11:11 fib1618: coming in with a -1
2015-10-29 16:11:30 fib1618: so we currently have trading balance between the buyers and the sellers right now
2015-10-29 16:11:46 fib1618: looking at the CO NYSE breadth MCSUM
2015-10-29 16:12:10 fib1618: and we see that this current bout between both sides comes at horizontal resistance from the May high point
2015-10-29 16:12:30 fib1618: so it would seem this is the line in the sand for the intermediate term sellers
2015-10-29 16:12:45 fib1618: either they hold here and keep the NYA from challenging the all time highs
2015-10-29 16:13:45 fib1618: or fall to the way side and allow the buyers to remain in control of the current advancing price structure
2015-10-29 16:13:51 fib1618: unlike other indices
2015-10-29 16:14:15 fib1618: the NYA has yet to meet its upside target of around the 10,750 level
2015-10-29 16:14:32 fib1618: and like we discussed on Tuesday with respect to the MID and SML
2015-10-29 16:14:58 fib1618: this is something that is a bit worrisome given the breadth thrust we had at the beginning of the month
2015-10-29 16:15:08 fib1618: moving to the NYSE Composite breadth MCO
2015-10-29 16:15:31 fib1618: and here we also saw a bounce back above the zero line on Wednesday
2015-10-29 16:15:48 fib1618: and snapped back to a +3 reading today
2015-10-29 16:15:55 fib1618: so between the two
2015-10-29 16:16:08 fib1618: the short term trend of money flow is becoming compressed
2015-10-29 16:16:43 fib1618: and we usually see large moves in prices once the decision is made of whether to move north or south
2015-10-29 16:17:15 fib1618: but for now
2015-10-29 16:17:21 fib1618: we continue to diverge negatively with prices
2015-10-29 16:17:39 fib1618: so it's still up to the buyers to belly up here and show a bit of conviction
2015-10-29 16:17:47 fib1618: or they're going to lose their advantage
2015-10-29 16:18:31 fib1618: the NASDAQ breadth MCO also bounced back above its zero line yesterday
2015-10-29 16:18:39 fib1618: and then moved slightly lower today
2015-10-29 16:18:56 fib1618: coming in with a positive reading of 5
2015-10-29 16:19:19 fib1618: looking at the NASDAQ components
2015-10-29 16:19:54 fib1618: and you can see how coiled up we've been over the last 3 weeks
2015-10-29 16:20:11 fib1618: as both the 10% and 5% Trends continue to play a game of zero line tag
2015-10-29 16:21:13 fib1618: and this is keeping the upside separation of the postings in the NASDAQ breadth MCSUM rather congested...but trudging higher in spite of it
2015-10-29 16:21:52 fib1618: in fact, we even took out the mid July highs on Wednesday
2015-10-29 16:22:05 fib1618: so that should be enough to move all the way back for a zero line test in this MCSUM
2015-10-29 16:22:30 fib1618: which is about 126 data points away from today's settlement
2015-10-29 16:23:43 fib1618: the NDX price action reached its reaction highs of mid July on Wednesday
2015-10-29 16:23:52 fib1618: so that upside target there has been met
2015-10-29 16:24:07 fib1618: and looking at the 21 day close up of the NDX breadth MCO
2015-10-29 16:24:32 fib1618: we see that it perceptively closed below Tuesday's low point
2015-10-29 16:24:59 fib1618: this is then our first small break in a series of rising bottoms
2015-10-29 16:25:07 fib1618: and with our price objective met
2015-10-29 16:25:37 fib1618: this would indicate that a bit of back and fill will likely take place over the next couple of days
2015-10-29 16:25:55 fib1618: and with the NDX breadth MCSUM as high as it is
2015-10-29 16:26:24 fib1618: this pause to refresh will probably etch out similar to what we saw on Monday and Tuesday
2015-10-29 16:26:32 fib1618: a sideways consolidation with a bullish bias
2015-10-29 16:27:28 fib1618: for the month of October
2015-10-29 16:27:40 fib1618: a month of which the internals suggested that it was likely to be positive one
2015-10-29 16:27:55 fib1618: the NDX is now up 11.71% for the month
2015-10-29 16:28:14 fib1618: pretty much balancing out what happened in August
2015-10-29 16:28:23 fib1618: well...not really
2015-10-29 16:28:32 fib1618: as it turned out to be mid range month
2015-10-29 16:28:56 fib1618: yea...the NDX was only down 6.85%
2015-10-29 16:29:20 fib1618: I'll do some research this weekend to find out the last time the NDX was up over 11% in a month
2015-10-29 16:29:33 fib1618: but I'm sure there won't be too many times
2015-10-29 16:30:07 fib1618: for those wondering
2015-10-29 16:30:20 fib1618: the NASDAQ itself is up 9.83%
2015-10-29 16:30:48 fib1618: so I guess the market can move up, as well as down, by double digits in a month
2015-10-29 16:31:30 fib1618: NYA though is "only" up 7.13%
2015-10-29 16:31:43 fib1618: not a bad month at all
2015-10-29 16:31:49 fib1618: moving to the SPX
2015-10-29 16:32:05 fib1618: which is up 8.82% through today
2015-10-29 16:32:36 fib1618: and we see that there was very little downside change today in the breadth MCO
2015-10-29 16:33:02 fib1618: after peaking at a +34 yesterday
2015-10-29 16:33:31 fib1618: and the SPX breadth MCSUM has now fully cleared itself above the +500 level
2015-10-29 16:34:01 fib1618: so let's look for the current move to extend toward the +750 level
2015-10-29 16:34:05 fib1618: which means...
2015-10-29 16:34:31 fib1618: that the market will be tilted toward the buy side going into next week's jobs numbers
2015-10-29 16:34:39 fib1618: which, as we were told yesterday
2015-10-29 16:34:56 fib1618: the FED will use as the sole determination in deciding on whether to raise rates in December
2015-10-29 16:35:05 fib1618: however, with gold getting hit today
2015-10-29 16:35:34 fib1618: traders are at least thinking that December may have a chance again
2015-10-29 16:35:53 fib1618: but if the Bond CEF A/D line continues to see higher highs
2015-10-29 16:36:09 fib1618: we won't have too much worry about this happening...maybe into the spring
2015-10-29 16:36:22 fib1618: and with the Presidential election next year
2015-10-29 16:37:10 fib1618: this December may be the last time the FED will have the ability to raise rates and not have any direct relationship to the political party whose currently running things
2015-10-29 16:37:52 fib1618: with global bank centers still paying lower rates of return
2015-10-29 16:38:12 fib1618: there's no need to raise rates on a competitive level
2015-10-29 16:38:41 fib1618: but we'll probably know the likelihood of it happening at least a month mid November
2015-10-29 16:39:19 fib1618: looking at the price chart of both the SPX and the OEX
2015-10-29 16:39:39 fib1618: and we can see a textbook example of an "impulsive" price sequence to the upside
2015-10-29 16:39:59 fib1618: with a move up...a consolidation for a day or two...another move up...another digestion period
2015-10-29 16:40:30 fib1618: and this provides substantive proof the the path of least resistance remains with the buyers
2015-10-29 16:40:55 fib1618: looking at the OEX breadth MCO
2015-10-29 16:41:01 fib1618: and unlike the SPX MCO
2015-10-29 16:41:10 fib1618: today's closing reading remains above the previous lows
2015-10-29 16:41:23 fib1618: while maintaining its bottom above a bottom structure
2015-10-29 16:42:01 fib1618: here we've also blown through natural resistance at the +750 level
2015-10-29 16:42:12 fib1618: as has the Dow breadth MCSUM at the +1000 level
2015-10-29 16:42:39 fib1618: so the odds here continue to favor the buyers over the next week
2015-10-29 16:43:19 fib1618: although, when we look at the Dow breadth MCO, it moved to a lower low today
2015-10-29 16:43:42 fib1618: but this would be expected given how "overbought" the Dow breadth MCSUM is at this time
2015-10-29 16:44:09 fib1618: the price action itself won't need as much fuel to continue north from here
2015-10-29 16:44:29 fib1618: and so a zero line test is probably coming up early next week on the Dow breadth MCO
2015-10-29 16:46:04 fib1618: moving to the MID
2015-10-29 16:46:21 fib1618: and we see that we finally got our break above price pattern resistance on Wednesday
2015-10-29 16:46:51 fib1618: but didn't quite clear the intraday highs of mid September
2015-10-29 16:47:02 fib1618: with multiple tops beneath tops in the MID breadth MCO
2015-10-29 16:47:24 fib1618: it will be important that this high point be taken out before we can say that we have a confirmed breakout to the upside
2015-10-29 16:47:36 fib1618: otherwise we may still be looking at a rally failure
2015-10-29 16:48:02 fib1618: given how deep below the zero line the MID volume MCO was on Tuesday
2015-10-29 16:48:18 fib1618: so there was a good flex of the bull muscles on Wednesday
2015-10-29 16:48:28 fib1618: but still not quite enough to put us in the clear
2015-10-29 16:49:03 fib1618: now, on a more positive note
2015-10-29 16:49:19 fib1618: the SML did rally hard on Wednesday
2015-10-29 16:49:27 fib1618: and took out its mid September highs in the process
2015-10-29 16:49:53 fib1618: so our only problem now is for internal confirmation of the rally
2015-10-29 16:50:13 fib1618: is a break above the series of declining tops we see in the SML breadth MCO
2015-10-29 16:50:33 fib1618: notice also that horizontal pattern resistance currently with the late June highs
2015-10-29 16:50:49 fib1618: price pattern wise
2015-10-29 16:50:55 fib1618: we can go either way
2015-10-29 16:51:08 fib1618: with an inside range day bar on both the MID and SML
2015-10-29 16:51:29 fib1618: but this range bar might be part of a simple snapback to what was previous overhead resistance on Tuesday
2015-10-29 16:51:33 fib1618: and if that's the case
2015-10-29 16:51:48 fib1618: this same bar is a bullish one given that we closed off the intraday lows of the day
2015-10-29 16:52:25 fib1618: still a lot to prove in both cases though
2015-10-29 16:52:33 fib1618: so we'll see how things go on Friday
2015-10-29 16:52:39 fib1618: moving to the TM breadth MCO
2015-10-29 16:52:56 thespookyone: I can't remember the mids and smalls lagging the large caps to this degree
2015-10-29 16:53:22 fib1618: it's definitely a big flashing yellow light
2015-10-29 16:53:29 thespookyone: seems like
2015-10-29 16:53:38 fib1618: especially how compressed the cumulative charts continue to be
2015-10-29 16:53:52 fib1618: it's like trying to start an old Model T
2015-10-29 16:53:59 fib1618: the market turns the crank
2015-10-29 16:54:08 fib1618: and the engine starts and runs pretty good
2015-10-29 16:54:33 fib1618: and then all of a sudden there's a bang, a pop, the engine sputters
2015-10-29 16:54:38 fib1618: and then dies
2015-10-29 16:54:43 fib1618: turn the crank again
2015-10-29 16:54:47 fib1618: and the same thing happens
2015-10-29 16:54:52 fib1618: and this time
2015-10-29 16:55:06 fib1618: it winds down...waa waa waa waa....
2015-10-29 16:55:24 fib1618: so the buyers have to step up and give things another crank
2015-10-29 16:55:45 fib1618: and hope that all of the cylinders begin to synchronize a bit
2015-10-29 16:56:16 thespookyone: Well, at least the Generals were in Genghis Khan mode, LOL
2015-10-29 16:56:21 fib1618: as spitting and sputtering isn't going to get us very far
2015-10-29 16:56:26 fib1618: [smile]
2015-10-29 16:56:34 fib1618: taking no prisoners
2015-10-29 16:56:39 thespookyone: nope
2015-10-29 16:56:44 fib1618: it's been the only place to be
2015-10-29 16:56:47 fib1618: AMZN
2015-10-29 16:56:48 fib1618: GOOG
2015-10-29 16:56:52 thespookyone: absolutely!
2015-10-29 16:56:56 fib1618: all the leaders
2015-10-29 16:57:00 fib1618: even AAPL
2015-10-29 16:57:18 thespookyone: had some fun with CELG, too
2015-10-29 16:57:27 fib1618: in fact
2015-10-29 16:57:35 fib1618: if you bring up a chart of AAPL
2015-10-29 16:57:45 fib1618: it looks like it just broke out to the upside
2015-10-29 16:57:58 fib1618: look at that EMA action!
2015-10-29 16:58:04 thespookyone: looks like it has 140 written all over it
2015-10-29 16:58:21 fib1618: closed at its highest levels since late July
2015-10-29 16:58:33 fib1618: let me see if I can come up with a target
2015-10-29 16:58:34 fib1618: one sec
2015-10-29 16:58:40 thespookyone: cool, thx
2015-10-29 16:58:57 fib1618: good volume expansion on the breakout too!
2015-10-29 16:59:05 thespookyone: oh yea
2015-10-29 16:59:17 thespookyone: been watching it closely
2015-10-29 16:59:28 fib1618: I would be happy with $127.50 for now
2015-10-29 16:59:50 fib1618: lots of resistance at $130
2015-10-29 16:59:55 thespookyone: still, nice...
2015-10-29 16:59:59 fib1618: yup
2015-10-29 17:00:07 fib1618: back to the Total Market
2015-10-29 17:00:41 fib1618: and it looks like we are now about 200 points away from reaching the upside price target in the Wilshire
2015-10-29 17:01:17 fib1618: with tops beneath tops controlling the TM breadth MCO pattern
2015-10-29 17:01:53 fib1618: so we'll need to see a break of this pattern if we're going to see much more above this same initial price target
2015-10-29 17:01:54 fib1618: so...
2015-10-29 17:02:07 fib1618: it was a good technical bounce day for the market on Wednesday
2015-10-29 17:02:21 fib1618: and today we're back to digesting the gains
2015-10-29 17:03:02 fib1618: biggest problem on a technical basis is that we're seeing less and less upside momentum in money flow
2015-10-29 17:03:16 fib1618: and unless this is corrected by, let's say, next Tuesday
2015-10-29 17:03:42 fib1618: prices will be highly vulnerable to any negative surprises that might pop up next week
2015-10-29 17:03:48 fib1618: moving on to the sectors
2015-10-29 17:04:07 fib1618: and we have new all time high close in the XLY today
2015-10-29 17:04:43 fib1618: and one would think that this wouldn't be happening this time of year unless the cost of borrowing on high ticket items was going to get more expensive
2015-10-29 17:04:58 fib1618: so here alone a FED hike in interest rates at the next meeting doesn't seem likely
2015-10-29 17:05:17 fib1618: although the press wants this to happen so badly now
2015-10-29 17:05:33 fib1618: as to not look like complete imbeciles when it comes to knowing economics
2015-10-29 17:06:20 fib1618: the new highs in prices were also confirmed by the XLY breadth MCSUM
2015-10-29 17:06:32 fib1618: as it moved above both the +250 level
2015-10-29 17:06:45 fib1618: and its horizontal highs of mid August
2015-10-29 17:07:01 fib1618: so long and strong there
2015-10-29 17:08:00 fib1618: with the expectation of solid buying by the consumers this holiday least under the umbrella of things that will last for years
2015-10-29 17:08:17 fib1618: after making a new all time price high last week
2015-10-29 17:08:29 fib1618: the XLP has now snapped back to the old breakout line
2015-10-29 17:08:51 fib1618: as the XLP breadth MCSUM is having its issues at the +1250 level
2015-10-29 17:09:09 fib1618: we also had a small point change today in the XLP breadth MCO
2015-10-29 17:09:41 fib1618: so since we haven't breached the -25 level as yet
2015-10-29 17:09:54 fib1618: let's look for a snapback toward the MCO zero line here as soon as tomorrow
2015-10-29 17:10:16 fib1618: for the bulls
2015-10-29 17:10:48 fib1618: they would want to see higher levels above those of mid October in the MCO to keep the momentum going north
2015-10-29 17:11:17 fib1618: after moving to "oversold" levels on Monday
2015-10-29 17:11:35 fib1618: the XLE breadth MCO has now provided for an obligatory snapback to the zero line
2015-10-29 17:12:22 fib1618: and will need to clear both the zero line, and the highs of last week, if there is going to be a chance to move above the price highs seen at the beginning of October
2015-10-29 17:12:33 fib1618: for now
2015-10-29 17:13:00 fib1618: the downside target from last week of $66 has held
2015-10-29 17:13:19 fib1618: so we'll see what kind of power the bulls have at these levels
2015-10-29 17:13:47 fib1618: after breaking above resistance last week, the XLF is now trending to the upside
2015-10-29 17:14:14 fib1618: with a classic impulsive look to the structure
2015-10-29 17:14:42 fib1618: the XLF breadth MCO is still showing a lessening of buying pressure though
2015-10-29 17:14:48 fib1618: but according to the XLF breadth MCSUM
2015-10-29 17:15:20 fib1618: there is still enough upside momentum to carry prices to our price objective of the $25 level
2015-10-29 17:15:39 thespookyone: Gotta figure the idiot chat on TV will help these at least until December, LOL
2015-10-29 17:16:02 fib1618: could be
2015-10-29 17:16:14 fib1618: as people "worry" about what they can't control
2015-10-29 17:16:29 fib1618: prices will tend to move higher against this "wall"
2015-10-29 17:16:46 fib1618: at this point though
2015-10-29 17:17:01 fib1618: there isn't enough proof as yet to suggest that November is going to be a positive one like we saw back in the first week of October
2015-10-29 17:17:19 fib1618: right now
2015-10-29 17:17:41 fib1618: the market would be hard pressed to keep this upside momentum going after the 11th
2015-10-29 17:18:04 fib1618: and then we'll see a better chance of a consolidation going into Black Friday
2015-10-29 17:18:33 fib1618: which, speaking honestly here, brick and mortar stores are NOT likely to successful this year
2015-10-29 17:18:49 fib1618: as there seems to be a bigger than average movement toward online shopping now
2015-10-29 17:18:58 fib1618: order from our phones
2015-10-29 17:19:05 fib1618: order from your Fire TV
2015-10-29 17:19:09 fib1618: or Apple TV
2015-10-29 17:19:12 thespookyone: AMZN [smile]
2015-10-29 17:19:18 fib1618: yup
2015-10-29 17:19:21 fib1618: it's the leader
2015-10-29 17:19:27 fib1618: and really
2015-10-29 17:19:33 fib1618: with Prime
2015-10-29 17:19:38 fib1618: you don't need anyone else
2015-10-29 17:19:47 thespookyone: nope
2015-10-29 17:19:56 fib1618: are you a member?
2015-10-29 17:20:11 fib1618: if not
2015-10-29 17:20:13 thespookyone: yes
2015-10-29 17:20:22 fib1618: usually they have a sell on the membership around Black Friday
2015-10-29 17:20:28 fib1618: I'll tell you
2015-10-29 17:20:30 thespookyone: as are my daughters
2015-10-29 17:20:37 fib1618: between the free two day shipping
2015-10-29 17:20:51 fib1618: and the selection of movies and TV programs and music that are free
2015-10-29 17:20:56 fib1618: why have anything else?
2015-10-29 17:21:03 fib1618: it's all included
2015-10-29 17:21:22 fib1618: and there are other perks as well from time to time
2015-10-29 17:21:28 fib1618: for example
2015-10-29 17:21:44 fib1618: I bought their Echo for 1/2 price before it was released to the general public over a year ago
2015-10-29 17:21:51 fib1618: and every week they make it better
2015-10-29 17:21:59 fib1618: it's a heck of a story
2015-10-29 17:22:10 fib1618: as good, if not better, than Apple
2015-10-29 17:22:10 thespookyone: sure is, they dominate
2015-10-29 17:22:15 fib1618: yup...and then they're also rolling out Prime Now across the country where you can get stuff delivered to you within 2 hours at no charge
2015-10-29 17:22:19 fib1618: OK..back to work
2015-10-29 17:22:49 fib1618: the XLV fooled us all and made even a higher high in the XLV breadth MCO this week
2015-10-29 17:23:27 fib1618: and we can see how the amplitude of the XLV breadth MCSUM pattern is now stretching out to the upside
2015-10-29 17:23:36 fib1618: looks like prices had a slip and fall today though
2015-10-29 17:23:46 fib1618: as it was testing the mid September highs
2015-10-29 17:23:59 fib1618: but this looks like a classic reset
2015-10-29 17:24:11 fib1618: and higher price highs are a high probability
2015-10-29 17:24:27 fib1618: lots of "highs" in that sentence [smile]
2015-10-29 17:24:41 fib1618: long and strong there
2015-10-29 17:25:00 fib1618: that could also be good news for the biotechs
2015-10-29 17:25:09 fib1618: which would help drive the NDX
2015-10-29 17:25:32 fib1618: in spite of Tuesday's big decline in the Dow Transports
2015-10-29 17:25:46 fib1618: the XLI breadth MCO remains quite strong here
2015-10-29 17:26:08 fib1618: with a complex bullish structure holding above the zero line
2015-10-29 17:27:17 fib1618: price pattern structure in the XLB looks quite bullish right now
2015-10-29 17:27:28 fib1618: in fact
2015-10-29 17:27:51 fib1618: this is what we want to see happen in both the MID and SML near term to help their structures
2015-10-29 17:28:42 fib1618: and this also gives us an example on how powerful breadth thrusts are when they get to outrageous levels that we saw earlier in the month with the XLB breadth MCO
2015-10-29 17:28:52 fib1618: as this allows the momentum of the move to continue with prices
2015-10-29 17:29:18 fib1618: in spite of seeing a lessening in positive money flow after the thrust
2015-10-29 17:29:42 fib1618: the XLK moved to new recovery highs this week
2015-10-29 17:29:55 fib1618: fulfilling its upside target
2015-10-29 17:30:12 fib1618: and with the XLK breadth MCSUM at the +1000 level
2015-10-29 17:30:33 fib1618: let's watch to see if we get a booster shot of money to keep the momentum going or not near term
2015-10-29 17:30:55 fib1618: though with the lower low in the XLK breadth MCO
2015-10-29 17:31:22 fib1618: it would appear that the +1000 level is going to be formidable foe for the buyers
2015-10-29 17:31:47 fib1618: and the XLU breadth MCO is now deeply "oversold"
2015-10-29 17:32:01 fib1618: with a -105 reading
2015-10-29 17:32:24 fib1618: and with it, a break back below the +1500 level in the XLU breadth MCSUM
2015-10-29 17:32:41 fib1618: so let's continue to expect a pull back in prices after reaching their price objective last week
2015-10-29 17:32:55 fib1618: and then another attempt for higher price highs sometime early next month
2015-10-29 17:32:58 fib1618: so...
2015-10-29 17:33:03 fib1618: things are mixed
2015-10-29 17:33:14 fib1618: but they have a definitive bullish tone to them
2015-10-29 17:33:55 fib1618: and this should keep things from falling apart, price wise, for much of next week
2015-10-29 17:34:05 fib1618: after's hard to tell at this time
2015-10-29 17:34:14 fib1618: moving to the OBV's
2015-10-29 17:34:55 fib1618: and up volume over down volume remains with the bulls
2015-10-29 17:35:26 fib1618: as all three time period oscillators are showing a lack of selling in spite of being over extended
2015-10-29 17:35:45 fib1618: NYSE TRIN at 1.14
2015-10-29 17:36:05 fib1618: with the Open 10 continuing to hang in there with a 1.09 reading
2015-10-29 17:36:33 fib1618: so not a lot of selling there...and any buying is putting upward pressure on prices
2015-10-29 17:36:44 fib1618: NASDAQ TRIN at 1.22
2015-10-29 17:36:51 fib1618: Open 10 at .84
2015-10-29 17:37:04 fib1618: so not "overbought"...but not neutral either
2015-10-29 17:37:15 fib1618: TM TRIN at 1.25
2015-10-29 17:37:23 fib1618: Open 10 at .93
2015-10-29 17:37:29 fib1618: so...
2015-10-29 17:37:39 fib1618: the path of least resistance remains to the upside
2015-10-29 17:38:12 fib1618: although we could see a quick and sharp one day shake out to get the OBV's back to a more neutral setting, we have signs of a bottom
2015-10-29 17:38:43 fib1618: with the overall objective to get the NYA, MID and SML to play catch up with the large caps
2015-10-29 17:38:57 fib1618: quite a whirlpool here
2015-10-29 17:39:16 fib1618: with the growth sector and gold saying tighter monetary policy
2015-10-29 17:39:42 fib1618: but the interest sensitive issues finding things to be more on the side of a looser policy
2015-10-29 17:40:06 fib1618: maybe the "powers that be" will stop playing games and just commit one way or the other
2015-10-29 17:40:13 fib1618: but based on the statement
2015-10-29 17:40:35 fib1618: next week's jobs numbers will be the critical data that they will be looking at for a December decision
2015-10-29 17:40:58 fib1618: hopefully they'll keep in mind how many people are out there looking for work that are NOT part of the monthly numbers anymore
2015-10-29 17:41:02 fib1618: and leave things alone
2015-10-29 17:41:09 fib1618: of other interest
2015-10-29 17:41:15 fib1618: I got something from Chase today
2015-10-29 17:41:29 fib1618: saying that they are changing their terms on one of my credit cards
2015-10-29 17:42:01 fib1618: and raising the rates from 19.24 APR on cash advances to - get this - 24.99% starting in December!
2015-10-29 17:42:20 fib1618: so don't let it ever be said that the banks are in trouble
2015-10-29 17:42:21 thespookyone: WOW!
2015-10-29 17:42:44 fib1618: can you imagine those who don't have a high FICO score what they're going to do with them?
2015-10-29 17:43:05 fib1618: and that's variable
2015-10-29 17:43:21 fib1618: anything else?
2015-10-29 17:43:51 thespookyone: thx much, great chat
2015-10-29 17:44:31 fib1618: let me check the BETS
2015-10-29 17:46:58 unc1998: I just had my best month ever...thanks for all you do Dave
2015-10-29 17:47:18 thespookyone: Agreed, you're the king Dave
2015-10-29 17:48:11 thespookyone: The LeBron of market mechanics
2015-10-29 17:48:23 fib1618: -35
2015-10-29 17:49:01 unc1998: Canada?
2015-10-29 17:49:07 fib1618: well...that's great to hear guys...but you did the work...treat yourselves to a nice dinner out
2015-10-29 17:49:21 fib1618: what about Canada?
2015-10-29 17:49:38 unc1998: leading the Bets to a lower reading of -35
2015-10-29 17:49:48 fib1618: make sure to tell your friends about what we do here...we need to pay it forward
2015-10-29 17:49:53 fib1618: oh...
2015-10-29 17:49:54 fib1618: yea
2015-10-29 17:49:59 fib1618: pretty much
2015-10-29 17:50:17 fib1618: the current readings are very compressed with their 19 and 39 day EMA's
2015-10-29 17:50:30 fib1618: so another sneeze higher on Friday would put them back to neutral
2015-10-29 17:50:42 fib1618: remember we had -35 on Tuesday
2015-10-29 17:50:49 fib1618: the BETS went to a -20 yesterday
2015-10-29 17:51:11 fib1618: so we'll see if another white knight comes trotting in or not on Friday
2015-10-29 17:51:19 fib1618: OK...if there's nothing else
2015-10-29 17:51:23 fib1618: I'm out of here
2015-10-29 17:51:29 fib1618: everyone have a great weekend
2015-10-29 17:51:35 fib1618: and we'll do this all again on Tuesday
2015-10-29 17:51:37 fib1618: good night
2015-10-29 17:52:00 unc1998: thanks and hope y'all have a good night

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