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Posts: 4,888
Reply with quote  #1 
2013-10-31 15:59:57 [Message] fib_1618 -> Chat: good day
2013-10-31 16:00:03 [Message] fib_1618 -> Chat: how is everyone?
2013-10-31 16:04:00 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2013-10-31 16:05:53 [Message] fib_1618 -> Chat: looks like we're getting our 1-2 day correction here
2013-10-31 16:06:07 [Message] fib_1618 -> Chat: we'll see if it's over or not as we look around
2013-10-31 16:07:47 [Message] fib_1618 -> Chat: OK...let's get DP up and we'll get started
2013-10-31 16:09:15 [Message] fib_1618 -> Chat: after breaking lower on Wednesday
2013-10-31 16:09:24 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO continued lower today
2013-10-31 16:09:45 [Message] fib_1618 -> Chat: and settled today just above the -25 level with a -22 reading
2013-10-31 16:09:49 [Message] fib_1618 -> Chat: looking at the components
2013-10-31 16:10:03 [Message] fib_1618 -> Chat: and we see that both the 10% and 5% Trends remain above their zero line
2013-10-31 16:10:19 [Message] fib_1618 -> Chat: and when we have this kind of dichotomy between the two
2013-10-31 16:10:28 [Message] fib_1618 -> Chat: we know that we are in a correctional sequence
2013-10-31 16:10:50 [Message] fib_1618 -> Chat: looking at the NYSE CO breadth MCSUM
2013-10-31 16:11:12 [Message] fib_1618 -> Chat: and we see that this resistance point came just under the natural resistance area of +750
2013-10-31 16:11:57 [Message] fib_1618 -> Chat: which means that there wasn't enough fresh money coming in on Wednesday to help propel this breadth dynamic above this same natural area of resistance
2013-10-31 16:12:25 [Message] fib_1618 -> Chat: looking at the NYA price chart
2013-10-31 16:12:43 [Message] fib_1618 -> Chat: and we see that we found near term psychological support at the 10,000 level
2013-10-31 16:13:04 [Message] fib_1618 -> Chat: and closed near the lows of the day
2013-10-31 16:13:24 [Message] fib_1618 -> Chat: ordinarily this wouldn't be such a big thing
2013-10-31 16:13:32 [Message] fib_1618 -> Chat: but being that this is the end of the month
2013-10-31 16:13:43 [Message] fib_1618 -> Chat: we're not getting any positive seasonality this time around
2013-10-31 16:13:56 [Message] fib_1618 -> Chat: and that could be a whisper that things may be changing
2013-10-31 16:14:19 [Message] fib_1618 -> Chat: but there is nothing as yet of substance pointing that conclusion at this stage in the game
2013-10-31 16:14:41 [Message] fib_1618 -> Chat: moving to the NYSE Composite breadth MCO
2013-10-31 16:14:53 [Message] fib_1618 -> Chat: and we closed the day just below the zero line with a -7 reading
2013-10-31 16:15:29 [Message] fib_1618 -> Chat: and remain, at least so far, above the snapback point in the pattern that we saw two weeks ago
2013-10-31 16:15:59 [Message] fib_1618 -> Chat: looking at the NYSE breadth MCO components
2013-10-31 16:16:14 [Message] fib_1618 -> Chat: and both do remain above their zero lines suggesting corrective behavior
2013-10-31 16:16:29 [Message] fib_1618 -> Chat: but we did get a crossover sell today between the two Trends
2013-10-31 16:17:00 [Message] fib_1618 -> Chat: so technically speaking
2013-10-31 16:17:19 [Message] fib_1618 -> Chat: we should see at least a rally attempt as soon as tomorrow
2013-10-31 16:18:07 [Message] fib_1618 -> Chat: to accommodate the expectation of a simple bounce from these current MCO levels
2013-10-31 16:18:52 [Message] fib_1618 -> Chat: the NASDAQ breadth MCO has now moved all the way down to the -25 level
2013-10-31 16:19:04 [Message] fib_1618 -> Chat: which should provide natural near term support of the pattern in an effort to at least snapback to or toward the zero line
2013-10-31 16:19:46 [Message] fib_1618 -> Chat: and looking at the 10% component
2013-10-31 16:19:59 [Message] fib_1618 -> Chat: we see that a bounce off the zero line is to be expected near term as well
2013-10-31 16:20:19 [Message] fib_1618 -> Chat: so far then, we're looking pretty good for a bounce higher as soon as Friday
2013-10-31 16:20:56 [Message] fib_1618 -> Chat: after failing to improve upon Tuesday's higher highs
2013-10-31 16:21:05 [Message] fib_1618 -> Chat: the NDX breadth MCO continued to sag lower today
2013-10-31 16:21:23 [Message] fib_1618 -> Chat: and it now rests at the -19 level
2013-10-31 16:21:52 [Message] fib_1618 -> Chat: looking at the NDX breadth MCSUM
2013-10-31 16:22:13 [Message] fib_1618 -> Chat: and we see that we didn't get our expected follow through to the upside over the last couple of days
2013-10-31 16:22:20 [Message] fib_1618 -> Chat: and more importantly for the sellers
2013-10-31 16:22:51 [Message] fib_1618 -> Chat: we were able to fill the last upside expansion gap that was created on Tuesday
2013-10-31 16:23:44 [Message] fib_1618 -> Chat: that would indicate that it's going to take more than another day or so to again find some sort of foundation from where the buyers can again push things in their direction
2013-10-31 16:24:00 [Message] fib_1618 -> Chat: looking at the NDX price pattern itself
2013-10-31 16:24:09 [Message] fib_1618 -> Chat: and we see a small rounding top being formed here
2013-10-31 16:24:51 [Message] fib_1618 -> Chat: with support about 50 points below us at 3325
2013-10-31 16:25:41 [Message] fib_1618 -> Chat: the SPX breadth MCO also didn't follow through to the upside on the back of Tuesday's strength
2013-10-31 16:26:10 [Message] fib_1618 -> Chat: and we have now moved all the way back to just below the zero line with a current reading of -9
2013-10-31 16:26:24 [Message] fib_1618 -> Chat: like the NYSE Composite MCO
2013-10-31 16:26:57 [Message] fib_1618 -> Chat: the near term technical expectation is for a snapback to or toward the zero line over the next day or so
2013-10-31 16:28:09 [Message] fib_1618 -> Chat: from where we'll likely get better information to determine if this is only the 1st salvo
2013-10-31 16:28:36 [Message] fib_1618 -> Chat: or nothing really to get all worried about as it being part of a larger uptrend overall
2013-10-31 16:29:02 [Message] fib_1618 -> Chat: before we go on
2013-10-31 16:29:15 [Message] fib_1618 -> Chat: just to let you know...the November schedule is now up for review
2013-10-31 16:29:28 [Message] fib_1618 -> Chat: we'll have 3 sessions next week
2013-10-31 16:29:35 [Message] fib_1618 -> Chat: 3 the following week
2013-10-31 16:29:47 [Message] fib_1618 -> Chat: I will be then be on vacation the week of the no chat that week
2013-10-31 16:29:58 [Message] fib_1618 -> Chat: and then Monday and Tuesday the week of Thanksgiving
2013-10-31 16:31:02 [Message] fib_1618 -> Chat: zero line snapback now complete on the OEX breadth MCO
2013-10-31 16:31:31 [Message] fib_1618 -> Chat: and this has put a full stop on the uptrend we've been working with in the OEX breadth MCSUM
2013-10-31 16:31:49 [Message] fib_1618 -> Chat: just as it's attempting to break above its horizontal resistance line
2013-10-31 16:32:02 [Message] fib_1618 -> Chat: so for the bulls
2013-10-31 16:32:49 [Message] fib_1618 -> Chat: it will be important that they don't go beyond Monday of next week in not stepping up and being counted
2013-10-31 16:33:14 [Message] fib_1618 -> Chat: or we'll likely be stuck with another week or so of chop
2013-10-31 16:33:40 [Message] fib_1618 -> Chat: you could see how traders attempted to rally the market after the FED announcement yesterday
2013-10-31 16:33:46 [Message] fib_1618 -> Chat: but just didn't get any takers
2013-10-31 16:34:10 [Message] fib_1618 -> Chat: breadth prior to the announcement was weak going into the statement anyway
2013-10-31 16:35:04 [Message] fib_1618 -> Chat: I'm just sorry that I wasn't near a computer in order to make social media post on it
2013-10-31 16:35:19 [Message] fib_1618 -> Chat: but that's what stops are for, right? [smile]
2013-10-31 16:35:29 [Message] fib_1618 -> Chat: anyway
2013-10-31 16:35:31 [Message] fib_1618 -> Chat: like the SPX
2013-10-31 16:35:49 [Message] fib_1618 -> Chat: the OEX breadth MCO continues to stay above its spike bottom of 2 weeks ago
2013-10-31 16:35:53 [Message] fib_1618 -> Chat: and as long as this holds
2013-10-31 16:36:13 [Message] fib_1618 -> Chat: there's not much more the sellers can do near term
2013-10-31 16:36:39 [Message] fib_1618 -> Chat: a break of those levels, however, would give the bears something to chew on for a week or so
2013-10-31 16:36:52 [Message] fib_1618 -> Chat: maybe into next Friday's jobs data?
2013-10-31 16:36:56 [Message] fib_1618 -> Chat: we'll see
2013-10-31 16:37:11 [Message] fib_1618 -> Chat: zero line snapback as well on the Dow breadth MCO
2013-10-31 16:37:28 [Message] fib_1618 -> Chat: and this has produced a full stop at the +250 level on the Dow breadth MCSUM
2013-10-31 16:38:05 [Message] fib_1618 -> Chat: so far, looks like a simple pause to refresh here as well
2013-10-31 16:38:13 [Message] fib_1618 -> Chat: like we talked about with Sunday's Breadth Review
2013-10-31 16:38:29 [Message] fib_1618 -> Chat: the market was "allowed" to show a bit of pullback this week
2013-10-31 16:38:38 [Message] fib_1618 -> Chat: and it certainly looks like we got it
2013-10-31 16:38:51 [Message] fib_1618 -> Chat: let me quickly check the NYAD sec
2013-10-31 16:39:36 [Message] fib_1618 -> Chat: NAAD line has now snapped back to its 19 day EMA
2013-10-31 16:39:44 [Message] fib_1618 -> Chat: and that was the minimum expectation there
2013-10-31 16:40:11 [Message] fib_1618 -> Chat: and a shallow snapback so far in the NYAD line
2013-10-31 16:40:56 [Message] fib_1618 -> Chat: with our being less than 2000 net advancing issues from the all time highs
2013-10-31 16:41:16 [Message] fib_1618 -> Chat: so pretty much your standard pause here
2013-10-31 16:41:59 [Message] fib_1618 -> Chat: the MID breadth MCO is back below its zero line now with a reading of -17
2013-10-31 16:42:43 [Message] fib_1618 -> Chat: so as long as we hold these current MCO levels,
2013-10-31 16:43:40 [Message] fib_1618 -> Chat: we're not going to build any downside momentum in the MID breadth MCSUM
2013-10-31 16:46:56 [Message] fib_1618 -> Chat: the SML breadth MCO also settled at just below the -25 level today
2013-10-31 16:47:09 [Message] fib_1618 -> Chat: so we should expect an obligatory bounce here as soon as Friday
2013-10-31 16:47:44 [Message] fib_1618 -> Chat: and like we've seen in the other MCO charts
2013-10-31 16:47:53 [Message] fib_1618 -> Chat: the components still remain above their zero lines
2013-10-31 16:47:58 [Message] fib_1618 -> Chat: and as long as this continues
2013-10-31 16:48:12 [Message] fib_1618 -> Chat: all the market can expect here is corrective activity
2013-10-31 16:48:33 [Message] fib_1618 -> Chat: and even if the components join the MCO's below their zero lines
2013-10-31 16:48:47 [Message] fib_1618 -> Chat: the MCO and the MCSUM will then be on either side of their zero lines
2013-10-31 16:49:00 [Message] fib_1618 -> Chat: so an intermediate term corrective sequence would be the likely outcome
2013-10-31 16:49:17 [Message] fib_1618 -> Chat: and would take on the shape of either a triangle or a trading range
2013-10-31 16:49:27 [Message] fib_1618 -> Chat: so there's nothing here suggesting a change in trend
2013-10-31 16:50:18 [Message] fib_1618 -> Chat: though, and I haven't looked as yet, I'm pretty sure that those who have been claiming top now for the last 3 years are again sticking their heads out and claiming that this time it will happen
2013-10-31 16:50:26 [Message] fib_1618 -> Chat: but there's nothing saying this at all
2013-10-31 16:50:59 [Message] fib_1618 -> Chat: and the TM breadth MCO also moved back below its zero line
2013-10-31 16:51:04 [Message] fib_1618 -> Chat: and like several of the other MCO's
2013-10-31 16:51:19 [Message] fib_1618 -> Chat: it did take out its reaction lows of two weeks ago in the process
2013-10-31 16:51:53 [Message] fib_1618 -> Chat: and this would indicate that we're likely to consolidate at these current levels and not move to new highs again so quickly
2013-10-31 16:51:56 [Message] fib_1618 -> Chat: so...
2013-10-31 16:52:32 [Message] fib_1618 -> Chat: the lack of follow through to Tuesday's bullish bias has caused the market to take a breather to get a better look around to see how things are going
2013-10-31 16:52:51 [Message] fib_1618 -> Chat: as was indicated by the Weekly Breadth charts this past weekend
2013-10-31 16:53:07 [Message] fib_1618 -> Chat: the market was "allowed" to do this given the firm week it had last week
2013-10-31 16:53:30 [Message] fib_1618 -> Chat: but the buyers don't want to allow sellers enough time to flex their muscles here
2013-10-31 16:53:49 [Message] fib_1618 -> Chat: it's pretty much like...the bulls decided to pass long down the sidelines on Wednesday
2013-10-31 16:53:56 [Message] fib_1618 -> Chat: but the defense read the play
2013-10-31 16:54:06 [Message] fib_1618 -> Chat: and intercepted the ball near their 20
2013-10-31 16:54:25 [Message] fib_1618 -> Chat: and moved a bit forward today
2013-10-31 16:54:55 [Message] fib_1618 -> Chat: we'll know if they'll make a 1st down or will have to give the ball up again on Friday
2013-10-31 16:55:02 [Message] fib_1618 -> Chat: moving to the sectors
2013-10-31 16:55:24 [Message] fib_1618 -> Chat: the XLY breadth MCO continues to show nice strength here
2013-10-31 16:55:32 [Message] fib_1618 -> Chat: as it remains above its zero line
2013-10-31 16:56:11 [Message] fib_1618 -> Chat: and this is helping to push the XLY breadth MCSUM to continue to move toward its new objective of the +750 level
2013-10-31 16:56:17 [Message] fib_1618 -> Chat: and as long as this continues
2013-10-31 16:56:44 [Message] fib_1618 -> Chat: any near term bounce that we might see (as soon as Friday) will probably result in a new all time high close in the XLY index
2013-10-31 16:57:17 [Message] fib_1618 -> Chat: the XLP breadth MCO got hit pretty hard today
2013-10-31 16:57:49 [Message] fib_1618 -> Chat: in what looks to be a simple case of "profit taking"
2013-10-31 16:58:18 [Message] fib_1618 -> Chat: near term price support remains .35 below current levels
2013-10-31 16:58:40 [Message] fib_1618 -> Chat: so this might be another index where we might see new closing highs on any near term technical bounce
2013-10-31 16:59:09 [Message] fib_1618 -> Chat: the XLE breadth MCSUM has run into a wall of +500 resistance
2013-10-31 16:59:32 [Message] fib_1618 -> Chat: in what looks to be a simple pause in the pattern
2013-10-31 16:59:44 [Message] fib_1618 -> Chat: a time to regroup before proceeding
2013-10-31 17:00:18 [Message] fib_1618 -> Chat: we had a small rally failure yesterday in the XLF
2013-10-31 17:00:25 [Message] fib_1618 -> Chat: and this led to a downside acceleration today
2013-10-31 17:01:07 [Message] fib_1618 -> Chat: with the XLF breadth MCO settling with a -43 reading
2013-10-31 17:01:15 [Message] fib_1618 -> Chat: so close to being minimally "oversold"
2013-10-31 17:01:43 [Message] fib_1618 -> Chat: but a bit disappointing given the character of the move through last Tuesday
2013-10-31 17:02:40 [Message] fib_1618 -> Chat: another worry point is that today's lower MCO reading was helped along with a downside thrust in the 10% component
2013-10-31 17:02:53 [Message] fib_1618 -> Chat: which came in with a -27 reading
2013-10-31 17:03:05 [Message] fib_1618 -> Chat: it will therefore be important near term that the bulls support current levels
2013-10-31 17:03:37 [Message] fib_1618 -> Chat: or we'll likely see another move down within the larger trading range back to the 19.50 level
2013-10-31 17:04:25 [Message] fib_1618 -> Chat: a nice outside range day reversal bar yesterday led to the expected lower close today in the XLV index
2013-10-31 17:04:49 [Message] fib_1618 -> Chat: with the XLV breadth MCSUM finding it hard going to move above the +600 level
2013-10-31 17:05:26 [Message] fib_1618 -> Chat: price support there is at the 52.50 level...or .25 below current levels
2013-10-31 17:05:42 [Message] fib_1618 -> Chat: again...this is looking like a pause to refresh so far
2013-10-31 17:05:54 [Message] fib_1618 -> Chat: and given the high readings in most of the breadth MCSUM's
2013-10-31 17:05:59 [Message] fib_1618 -> Chat: as we said on Tuesday
2013-10-31 17:06:38 [Message] fib_1618 -> Chat: it's still going to take a couple of weeks before the bears have any resemblance of having control as to the direction of prices
2013-10-31 17:06:52 [Message] fib_1618 -> Chat: which also means
2013-10-31 17:07:14 [Message] fib_1618 -> Chat: nothing has changed at this point to where we shouldn't expect continued price strength into the end of the November
2013-10-31 17:07:58 [Message] fib_1618 -> Chat: small point change on the XLI breadth MCO
2013-10-31 17:08:33 [Message] fib_1618 -> Chat: and the XLI breadth MCSUM continues the process of attempting to break above the late September highs
2013-10-31 17:08:48 [Message] fib_1618 -> Chat: and as long as this basket of stocks remains firm
2013-10-31 17:09:02 [Message] fib_1618 -> Chat: so will the likelihood of the INDU and the TRAN moving to higher highs
2013-10-31 17:09:25 [Message] fib_1618 -> Chat: zero line snapback also complete on the XLB breadth MCO
2013-10-31 17:09:51 [Message] fib_1618 -> Chat: right at the point in which our concerns for the bulls lies
2013-10-31 17:10:01 [Message] fib_1618 -> Chat: at both horizontal resistance on the MCSUM
2013-10-31 17:10:10 [Message] fib_1618 -> Chat: and the +750 level
2013-10-31 17:10:25 [Message] fib_1618 -> Chat: I know gold was down big this morning...let me see where it closed
2013-10-31 17:10:44 [Message] fib_1618 -> Chat: down $20
2013-10-31 17:10:53 [Message] fib_1618 -> Chat: and if you bring up a daily chart on gold
2013-10-31 17:11:08 [Message] fib_1618 -> Chat: you will see that we closed back below both the 20 and 50 day EMA's today
2013-10-31 17:11:36 [Message] fib_1618 -> Chat: boy...I sure don't like what I'm seeing there
2013-10-31 17:11:47 [Message] fib_1618 -> Chat: volume and price are suggesting a short term top
2013-10-31 17:12:14 [Message] fib_1618 -> Chat: and a failure on the 13 day RSI as well
2013-10-31 17:12:26 [Message] fib_1618 -> Chat: as a chartist
2013-10-31 17:12:43 [Message] fib_1618 -> Chat: my hope now that we got the gold bugs all excited
2013-10-31 17:12:52 [Message] fib_1618 -> Chat: that we can finally have our final purge to the $1155 level
2013-10-31 17:13:03 [Message] fib_1618 -> Chat: and then get on with the resumption of the 13 year advancing sequence
2013-10-31 17:13:09 [Message] fib_1618 -> Chat: for now
2013-10-31 17:13:25 [Message] fib_1618 -> Chat: $1360 is intraday resistance
2013-10-31 17:13:43 [Message] fib_1618 -> Chat: and $1415 is where the 200 day EMA resides
2013-10-31 17:13:55 [Message] fib_1618 -> Chat: so even if we break above $1360
2013-10-31 17:14:03 [Message] fib_1618 -> Chat: that only allows a move to maybe $1400
2013-10-31 17:14:15 [Message] fib_1618 -> Chat: with a lot of underlying weakness below us
2013-10-31 17:14:28 [Message] fib_1618 -> Chat: we'll see how the breadth charts look this weekend
2013-10-31 17:14:37 [Message] fib_1618 -> Chat: but if we're close to making lower lows again in the XAU and PM's
2013-10-31 17:15:04 [Message] fib_1618 -> Chat: I would be sit on my hands as far as playing the long side in this asset class
2013-10-31 17:16:16 [Message] fib_1618 -> Chat: the XLK also is showing a bit of a pause in the action
2013-10-31 17:16:42 [Message] fib_1618 -> Chat: as looks to be correcting excesses there
2013-10-31 17:17:04 [Message] fib_1618 -> Chat: and the XLU breadth MCO broke below its zero line today
2013-10-31 17:17:20 [Message] fib_1618 -> Chat: and that put a halt to its complex bullish structure
2013-10-31 17:17:39 [Message] fib_1618 -> Chat: taking ruler to monitor on the 1 year price chart
2013-10-31 17:18:19 [Message] fib_1618 -> Chat: and we see that we snapped back intraday to what was the previous declining tops line of which the pattern broke above a couple of weeks ago
2013-10-31 17:18:27 [Message] fib_1618 -> Chat: and then closed near the highs of the day
2013-10-31 17:18:40 [Message] fib_1618 -> Chat: so this may have been just a simple technical test day
2013-10-31 17:19:07 [Message] fib_1618 -> Chat: though moving below the zero line and below the reaction lows at the MCO zero line a bit troubling near term
2013-10-31 17:19:11 [Message] fib_1618 -> Chat: no less
2013-10-31 17:19:27 [Message] fib_1618 -> Chat: that this is happening just below the important +500 level on the XLU breadth MCSUM
2013-10-31 17:19:30 [Message] fib_1618 -> Chat: so....
2013-10-31 17:19:43 [Message] fib_1618 -> Chat: a real mixture of things
2013-10-31 17:19:56 [Message] fib_1618 -> Chat: with the overall feel of a market that needs a rest
2013-10-31 17:20:24 [Message] fib_1618 -> Chat: and from where the longs decided to take some profits because of the lack of conviction
2013-10-31 17:20:38 [Message] fib_1618 -> Chat: near term
2013-10-31 17:20:49 [Message] fib_1618 -> Chat: we should see an obligatory bounce higher as soon as Friday
2013-10-31 17:21:02 [Message] fib_1618 -> Chat: and if this does occur
2013-10-31 17:21:08 [Message] fib_1618 -> Chat: it will likely spill over into Monday
2013-10-31 17:21:20 [Message] fib_1618 -> Chat: then we'll see how things will likely shape up for the rest of the week
2013-10-31 17:21:32 [Message] fib_1618 -> Chat: let's see how the volume oscillators are faring
2013-10-31 17:21:57 [Message] fib_1618 -> Chat: not too much of a change at all from Tuesday's readings
2013-10-31 17:22:03 [Message] fib_1618 -> Chat: so let's look at the sectors
2013-10-31 17:23:01 [Message] fib_1618 -> Chat: the overall picture with the XLY is that we seem to be consolidating here with the STVO near neutral while the VTO is within striking distance in moving to "overbought"
2013-10-31 17:23:26 [Message] fib_1618 -> Chat: what would likely happen for a price top would be seeing both of these indicators at "overbought" simultaneously
2013-10-31 17:24:03 [Message] fib_1618 -> Chat: XLP is "overbought" here and probably the main reason why the XLP breadth MCO got hit as hard as it did today
2013-10-31 17:25:06 [Message] fib_1618 -> Chat: looks like we're consolidating in XLE given both the STVO and VTO are above neutral and declining together
2013-10-31 17:25:27 [Message] fib_1618 -> Chat: the XLF CVI is close to being climactic on the downside
2013-10-31 17:25:58 [Message] fib_1618 -> Chat: this suggests that the STVO is likely to move to "oversold" now before we'll see price pattern support come in
2013-10-31 17:26:43 [Message] fib_1618 -> Chat: the XLV remains positive but appears to be struggling at these levels
2013-10-31 17:27:43 [Message] fib_1618 -> Chat: the XLI looks to need a couple of more days of digestion before it can proceed
2013-10-31 17:28:26 [Message] fib_1618 -> Chat: the XLB looks like it also needs a couple more days of rest
2013-10-31 17:29:12 [Message] fib_1618 -> Chat: XLK is one side is about to take control there
2013-10-31 17:29:34 [Message] fib_1618 -> Chat: and the XLU looks to be bottoming
2013-10-31 17:29:40 [Message] fib_1618 -> Chat: with the CVI now climactic to the downside
2013-10-31 17:29:48 [Message] fib_1618 -> Chat: and the STVO and VTO now neutral
2013-10-31 17:29:59 [Message] fib_1618 -> Chat: so...
2013-10-31 17:30:12 [Message] fib_1618 -> Chat: it would now appear that we're going to chop around for a few more days
2013-10-31 17:30:35 [Message] fib_1618 -> Chat: with the next day or two likely to be neutral to higher overall
2013-10-31 17:30:53 [Message] fib_1618 -> Chat: NYSE TRIN at 1.24
2013-10-31 17:31:03 [Message] fib_1618 -> Chat: Open 10 at 1.09
2013-10-31 17:31:07 [Message] fib_1618 -> Chat: "oversold"
2013-10-31 17:31:14 [Message] fib_1618 -> Chat: so you can't really short here
2013-10-31 17:31:35 [Message] fib_1618 -> Chat: NASDAQ TRIN at .63
2013-10-31 17:31:48 [Message] fib_1618 -> Chat: Open 10 still "oversold" at 1.10
2013-10-31 17:31:59 [Message] fib_1618 -> Chat: looks like we had some short covering today
2013-10-31 17:32:21 [Message] fib_1618 -> Chat: and the 21 day SMA of the TRINQ is also "oversold" now
2013-10-31 17:32:58 [Message] fib_1618 -> Chat: TM TRIN at .77
2013-10-31 17:33:06 [Message] fib_1618 -> Chat: Open 10 at 1.14
2013-10-31 17:33:12 [Message] fib_1618 -> Chat: "oversold" there as well
2013-10-31 17:33:14 [Message] fib_1618 -> Chat: so...
2013-10-31 17:33:20 [Message] fib_1618 -> Chat: taken together
2013-10-31 17:33:38 [Message] fib_1618 -> Chat: we seem to be digesting the gains for the month of October
2013-10-31 17:33:55 [Message] fib_1618 -> Chat: and this could last into the end of next week
2013-10-31 17:33:59 [Message] fib_1618 -> Chat: but near term, because of its proximity
2013-10-31 17:34:17 [Message] fib_1618 -> Chat: we could see new price highs in many of the major market indices during this consolidation phase
2013-10-31 17:34:48 [Message] fib_1618 -> Chat: as when we get readings above 1.10 in the Open 10
2013-10-31 17:35:08 [Message] fib_1618 -> Chat: it becomes very difficult for the sellers to mount up anything of importance
2013-10-31 17:35:30 [Message] fib_1618 -> Chat: very much like trying to keep a basketball below the water line in the deep in of a swimming pool
2013-10-31 17:35:37 [Message] fib_1618 -> Chat: unless you apply constant pressure
2013-10-31 17:35:54 [Message] fib_1618 -> Chat: the ball will rise back above the water line in quick cadence
2013-10-31 17:36:16 [Message] fib_1618 -> Chat: sort of like we saw during the afternoon today before the final selling wave hit the market in the last hour
2013-10-31 17:36:20 [Message] fib_1618 -> Chat: anything else?
2013-10-31 17:36:59 [Message] fib_1618 -> Chat: let me get a number on the BETS - one moment
2013-10-31 17:37:53 [Message] fib_1618 -> Chat: btw...just looked at the daily silver chart
2013-10-31 17:38:00 [Message] fib_1618 -> Chat: it looks worse than the gold chart
2013-10-31 17:38:07 [Message] fib_1618 -> Chat: if you're careful there
2013-10-31 17:39:58 [Message] fib_1618 -> Chat: +40
2013-10-31 17:40:16 [Message] fib_1618 -> Chat: we'll see how it settles tomorrow
2013-10-31 17:40:45 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-10-31 17:40:48 [Message] fib_1618 -> Chat: I'm gong to take off
2013-10-31 17:41:01 [Message] fib_1618 -> Chat: remember we have Tuesday, Wednesday and Thursday next week
2013-10-31 17:41:22 [Message] fib_1618 -> Chat: so we'll hopefully have more information by then to work from
2013-10-31 17:41:27 [Message] fib_1618 -> Chat: have a great weekend
2013-10-31 17:41:28 [Message] fib_1618 -> Chat: good night

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