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fib_1618

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Reply with quote  #1 
2012-11-01 16:00:17 [Message] fib_1618 -> Chat: good day
2012-11-01 16:00:20 [Message] fib_1618 -> Chat: how is everyone?
2012-11-01 16:00:59 [Message] fib_1618 -> Chat: been a tough week for many...hopefully you haven't been affected
2012-11-01 16:02:22 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2012-11-01 16:04:11 [Message] fib_1618 -> Chat: give me one more moment and we'll get started
2012-11-01 16:04:23 [Message] hkk -> Chat: nice call that the MCO was unlikely to break the lows
2012-11-01 16:04:49 [Message] fib_1618 -> Chat: well...the probabilities were low that it would
2012-11-01 16:05:08 [Message] fib_1618 -> Chat: and probabilities is what the market is all about
2012-11-01 16:05:15 [Message] fib_1618 -> Chat: the kicker was the Hurricane
2012-11-01 16:05:36 [Message] fib_1618 -> Chat: and the closure of 2 days...it basically used up any remaining bear fuel
2012-11-01 16:05:44 [Message] fib_1618 -> Chat: OK
2012-11-01 16:05:53 [Message] fib_1618 -> Chat: let me get DP up and we'll get started
2012-11-01 16:06:12 [Message] fib_1618 -> Chat: but I have a sneaky suspicion that we have had nothing more than zero line snapbacks today
2012-11-01 16:06:33 [Message] fib_1618 -> Chat: and coinciding with MCSUM 250 multiple support levels
2012-11-01 16:06:37 [Message] fib_1618 -> Chat: so let's take a look
2012-11-01 16:07:10 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO did find support at around the -50 level this week
2012-11-01 16:07:23 [Message] fib_1618 -> Chat: and has now snapped back to just above its zero line today
2012-11-01 16:07:37 [Message] fib_1618 -> Chat: this then shuts down the direction of the MCSUM
2012-11-01 16:07:39 [Message] fib_1618 -> Chat: and as we see
2012-11-01 16:07:46 [Message] fib_1618 -> Chat: right near the zero line
2012-11-01 16:08:01 [Message] fib_1618 -> Chat: (slightly below it for the record)
2012-11-01 16:08:18 [Message] fib_1618 -> Chat: and looking at the components
2012-11-01 16:08:34 [Message] fib_1618 -> Chat: we had a crossover buy signal generated today on this same close above the MCO zero line
2012-11-01 16:09:11 [Message] fib_1618 -> Chat: all that needs to be done now for a reversal to be in place is for the NYSE CO breadth MCO to move above the spike highs of mid October
2012-11-01 16:09:22 [Message] fib_1618 -> Chat: but for now...
2012-11-01 16:09:40 [Message] fib_1618 -> Chat: it's enough for a probable move in prices back to the upper end of the NYA trading range
2012-11-01 16:10:03 [Message] fib_1618 -> Chat: as the market readies itself for both the jobs number on Friday
2012-11-01 16:10:10 [Message] fib_1618 -> Chat: and the national election on Tuesday
2012-11-01 16:10:23 [Message] fib_1618 -> Chat: which, right now, at this time, is a dead heat for President
2012-11-01 16:10:43 [Message] fib_1618 -> Chat: according to RCP, Obama leads by 10 Electoral votes
2012-11-01 16:10:54 [Message] fib_1618 -> Chat: with 138 votes in the toss up category
2012-11-01 16:11:08 [Message] fib_1618 -> Chat: 201 to 191
2012-11-01 16:11:14 [Message] fib_1618 -> Chat: and you need 270 to be elected
2012-11-01 16:11:34 [Message] fib_1618 -> Chat: what makes all this interesting is Sandy
2012-11-01 16:11:49 [Message] fib_1618 -> Chat: because the pressure is going to build over the weekend now
2012-11-01 16:12:15 [Message] fib_1618 -> Chat: and people are starting to get angry and could lash out both physically and literally
2012-11-01 16:12:25 [Message] fib_1618 -> Chat: so we'll have to keep an eye on that
2012-11-01 16:13:04 [Message] fib_1618 -> Chat: the composite NYSE breadth MCO also snapped back to just above its zero line today as well
2012-11-01 16:13:25 [Message] fib_1618 -> Chat: with a crossover buy signal on the components
2012-11-01 16:13:29 [Message] fib_1618 -> Chat: technically though
2012-11-01 16:13:44 [Message] fib_1618 -> Chat: we see that the broader market is lagging here ever so slightly to the commons
2012-11-01 16:14:09 [Message] fib_1618 -> Chat: so if the bulls are going to have any chance of moving to new recovery price highs next week
2012-11-01 16:14:22 [Message] fib_1618 -> Chat: there has to be better overall participation
2012-11-01 16:15:09 [Message] fib_1618 -> Chat: a confirmation here would be the same as the CO...a break above the mid October highs would allow a chance for an advancing trend to be created
2012-11-01 16:15:23 [Message] fib_1618 -> Chat: or at the very least
2012-11-01 16:15:59 [Message] fib_1618 -> Chat: we are "allowed" to see some sort of snapback to what was MCSUM pattern support at the +500 level before we see a test of the zero line itself
2012-11-01 16:16:25 [Message] fib_1618 -> Chat: this would also work well with any other MCSUM's in and around any 250 multiple that we may see tonight
2012-11-01 16:17:02 [Message] fib_1618 -> Chat: but, so far, we do have a bullish divergent structure in place
2012-11-01 16:17:24 [Message] fib_1618 -> Chat: where the trigger for this same divergence would come on any move above the same mid October highs
2012-11-01 16:17:43 [Message] fib_1618 -> Chat: nice zero line snapback as well on the NASDAQ breadth MCO
2012-11-01 16:17:46 [Message] fib_1618 -> Chat: and with it
2012-11-01 16:18:10 [Message] fib_1618 -> Chat: the NASDAQ breadth MCSUM is now slowing its descent exactly where we figured it would last week...at the -250 level
2012-11-01 16:18:21 [Message] fib_1618 -> Chat: where we have both pattern and natural support
2012-11-01 16:19:06 [Message] fib_1618 -> Chat: however, the NASDAQ MCO components are not as yet showing the same positive positioning as the NYSE components are showing
2012-11-01 16:19:26 [Message] hkk -> Chat: if the bulls follow through above the mid OCT high, then can this still be a B wave and retest the lows later?
2012-11-01 16:19:27 [Message] fib_1618 -> Chat: so it will be harder to move above the mid October highs than it would for the NYSE basket of stocks
2012-11-01 16:19:42 [Message] fib_1618 -> Chat: it could be
2012-11-01 16:19:49 [Message] fib_1618 -> Chat: it would depend on participation
2012-11-01 16:20:12 [Message] fib_1618 -> Chat: remember that the psychological background of a "B" wave is that it "smells"
2012-11-01 16:20:22 [Message] fib_1618 -> Chat: that there are inconsistencies between indices either internally, externally or both
2012-11-01 16:20:37 [Message] fib_1618 -> Chat: where, right now, we have one between the NASDAQ and NYSE
2012-11-01 16:20:43 [Message] fib_1618 -> Chat: there may be others
2012-11-01 16:20:47 [Message] fib_1618 -> Chat: but overall
2012-11-01 16:21:03 [Message] fib_1618 -> Chat: until this mid October MCO highs are violated
2012-11-01 16:21:15 [Message] fib_1618 -> Chat: it's more than likely that we're still in a corrective sequence
2012-11-01 16:21:28 [Message] fib_1618 -> Chat: and that would compliment a "B" wave
2012-11-01 16:21:30 [Message] fib_1618 -> Chat: OR
2012-11-01 16:21:35 [Message] fib_1618 -> Chat: "X" wave
2012-11-01 16:21:50 [Message] fib_1618 -> Chat: looking at the price charts
2012-11-01 16:22:10 [Message] fib_1618 -> Chat: we can make out an A-B-C completion
2012-11-01 16:22:18 [Message] fib_1618 -> Chat: and depending on the degree of trend
2012-11-01 16:22:35 [Message] fib_1618 -> Chat: we might be working on a "bridge" between two complex corrective Elliott patterns
2012-11-01 16:22:40 [Message] fib_1618 -> Chat: which could very well be the case
2012-11-01 16:22:43 [Message] thespookyone -> Chat: this sure looks ledgey, although, I know it's "illegal"
2012-11-01 16:22:47 [Message] fib_1618 -> Chat: given the lack of money leaving the market
2012-11-01 16:23:00 [Message] fib_1618 -> Chat: while prices have been showing more decay than usual
2012-11-01 16:23:10 [Message] fib_1618 -> Chat: well...
2012-11-01 16:23:15 [Message] fib_1618 -> Chat: one day doesn't make a ledge
2012-11-01 16:23:21 [Message] fib_1618 -> Chat: if anything
2012-11-01 16:23:25 [Message] fib_1618 -> Chat: it's a stopping point
2012-11-01 16:23:29 [Message] fib_1618 -> Chat: in an attempt to find support
2012-11-01 16:23:36 [Message] fib_1618 -> Chat: natural or otherwise
2012-11-01 16:23:45 [Message] fib_1618 -> Chat: and the more MCSUM's we see in this pattern
2012-11-01 16:23:59 [Message] fib_1618 -> Chat: the better the idea of this being a probable turn in direction
2012-11-01 16:24:00 [Message] fib_1618 -> Chat: why?
2012-11-01 16:24:24 [Message] fib_1618 -> Chat: because we have already had two hesitation patterns since the September highs
2012-11-01 16:24:30 [Message] fib_1618 -> Chat: and a third one is not likely in the same sequence
2012-11-01 16:24:41 [Message] fib_1618 -> Chat: we also should consider
2012-11-01 16:25:02 [Message] fib_1618 -> Chat: that we are at a major political event
2012-11-01 16:25:20 [Message] fib_1618 -> Chat: that can and will change the course of how traders perceive stocks
2012-11-01 16:25:31 [Message] fib_1618 -> Chat: and anything else that is dollar denominated
2012-11-01 16:25:36 [Message] fib_1618 -> Chat: now...
2012-11-01 16:25:48 [Message] fib_1618 -> Chat: we also have the additional kicker of Sandy
2012-11-01 16:26:06 [Message] fib_1618 -> Chat: where the FED is certainly going to keep the spigot wide open until we get some sort of balance
2012-11-01 16:26:24 [Message] fib_1618 -> Chat: 1/3 of Manhattan is still dark
2012-11-01 16:26:27 [Message] thespookyone -> Chat: hard for me to see the market celebrating the election results, but I'm not trading hard to see
2012-11-01 16:26:35 [Message] fib_1618 -> Chat: again
2012-11-01 16:26:42 [Message] fib_1618 -> Chat: there could be some very big surprises
2012-11-01 16:26:45 [Message] fib_1618 -> Chat: who knows
2012-11-01 16:27:04 [Message] fib_1618 -> Chat: will the state of New Jersey and New York have an election day now?
2012-11-01 16:27:13 [Message] fib_1618 -> Chat: if people can't get around
2012-11-01 16:27:19 [Message] fib_1618 -> Chat: how are they going to vote?
2012-11-01 16:27:29 [Message] fib_1618 -> Chat: if people get pissed at officials
2012-11-01 16:27:38 [Message] fib_1618 -> Chat: will they vote out of spite?
2012-11-01 16:27:54 [Message] fib_1618 -> Chat: this weekend is going to be very interesting
2012-11-01 16:27:57 [Message] fib_1618 -> Chat: there's no gas
2012-11-01 16:28:06 [Message] fib_1618 -> Chat: no electricity
2012-11-01 16:28:12 [Message] fib_1618 -> Chat: and there's flooding
2012-11-01 16:28:20 [Message] fib_1618 -> Chat: and all the health problems that goes along with that
2012-11-01 16:28:28 [Message] fib_1618 -> Chat: this is a very serious situation
2012-11-01 16:28:34 [Message] thespookyone -> Chat: it is!
2012-11-01 16:28:36 [Message] fib_1618 -> Chat: in which I don't believe many fully appreciate
2012-11-01 16:28:50 [Message] fib_1618 -> Chat: a game changer
2012-11-01 16:28:53 [Message] thespookyone -> Chat: I lost power for 24 hours, and was happy, LOL
2012-11-01 16:28:54 [Message] fib_1618 -> Chat: maybe
2012-11-01 16:28:56 [Message] fib_1618 -> Chat: who knows?
2012-11-01 16:29:08 [Message] fib_1618 -> Chat: Con Ed announced about 4 hours ago
2012-11-01 16:29:28 [Message] fib_1618 -> Chat: that a "great majority" of folks who are still in the dark will be that way until NEXT weekend
2012-11-01 16:29:34 [Message] fib_1618 -> Chat: what about food?
2012-11-01 16:29:44 [Message] fib_1618 -> Chat: no one can go to work
2012-11-01 16:30:00 [Message] fib_1618 -> Chat: you have to consider something very important here
2012-11-01 16:30:09 [Message] fib_1618 -> Chat: the New York city area is nothing by islands
2012-11-01 16:30:24 [Message] fib_1618 -> Chat: and if there's no transport (subway)
2012-11-01 16:30:28 [Message] fib_1618 -> Chat: and no gas
2012-11-01 16:30:38 [Message] fib_1618 -> Chat: how is commerce going to continue?
2012-11-01 16:30:55 [Message] fib_1618 -> Chat: but they believe that the subways will be up by Sunday
2012-11-01 16:31:01 [Message] fib_1618 -> Chat: but then
2012-11-01 16:31:07 [Message] fib_1618 -> Chat: what about the electricity?
2012-11-01 16:31:13 [Message] fib_1618 -> Chat: they "say" tomorrow
2012-11-01 16:31:27 [Message] fib_1618 -> Chat: but the electricity is under the city
2012-11-01 16:31:31 [Message] fib_1618 -> Chat: that is still flooded downtown
2012-11-01 16:31:38 [Message] fib_1618 -> Chat: tough situation
2012-11-01 16:31:47 [Message] fib_1618 -> Chat: anyway
2012-11-01 16:31:48 [Message] fib_1618 -> Chat: for now
2012-11-01 16:32:04 [Message] fib_1618 -> Chat: the first three MCO's are showing that we have relieved our "oversold" condition
2012-11-01 16:32:14 [Message] fib_1618 -> Chat: and we are pretty much neutral now going into the jobs data
2012-11-01 16:32:29 [Message] fib_1618 -> Chat: which may or may not be a key event now
2012-11-01 16:32:53 [Message] fib_1618 -> Chat: no electricity also means
2012-11-01 16:32:56 [Message] fib_1618 -> Chat: no cell phones
2012-11-01 16:33:06 [Message] fib_1618 -> Chat: how are you going to pay your bills?
2012-11-01 16:33:22 [Message] fib_1618 -> Chat: FED EX and UPS are still not picking up or delivering into the city
2012-11-01 16:33:36 [Message] fib_1618 -> Chat: the mail is getting through...but slowly
2012-11-01 16:33:57 [Message] fib_1618 -> Chat: and the entire financial community is downtown
2012-11-01 16:34:04 [Message] fib_1618 -> Chat: who can go to work?
2012-11-01 16:34:09 [Message] fib_1618 -> Chat: if you even get there
2012-11-01 16:34:18 [Message] fib_1618 -> Chat: with no electricity
2012-11-01 16:34:24 [Message] fib_1618 -> Chat: unless you have a generator
2012-11-01 16:34:29 [Message] fib_1618 -> Chat: you might as well stay home
2012-11-01 16:35:19 [Message] fib_1618 -> Chat: and we're not talking about folks who are "used to" doing without like those along the gulf coast
2012-11-01 16:35:29 [Message] fib_1618 -> Chat: sigh
2012-11-01 16:35:44 [Message] fib_1618 -> Chat: so...it should be interesting how things go this weekend
2012-11-01 16:35:51 [Message] fib_1618 -> Chat: back to the charts
2012-11-01 16:36:15 [Message] fib_1618 -> Chat: the NDX breadth MCO also powered higher above its zero line today
2012-11-01 16:36:20 [Message] fib_1618 -> Chat: and if memory serves me
2012-11-01 16:36:51 [Message] fib_1618 -> Chat: you can see how the declining wedge formation that we were talking about last week had its usual upside resolution today after "one more low"
2012-11-01 16:37:05 [Message] fib_1618 -> Chat: so even on that angle
2012-11-01 16:37:14 [Message] fib_1618 -> Chat: we should see the NDX rally for a few days
2012-11-01 16:37:34 [Message] fib_1618 -> Chat: to at least the 2730 area where we have some pattern congestion on the chart
2012-11-01 16:37:47 [Message] fib_1618 -> Chat: but that's also another 43 points
2012-11-01 16:37:59 [Message] fib_1618 -> Chat: the other thing in the bulls corner right now
2012-11-01 16:38:33 [Message] fib_1618 -> Chat: is that the intraday money flow data was finally showing some sort of rhythm to it after 11:00 this morning
2012-11-01 16:38:41 [Message] fib_1618 -> Chat: it seems to be impulsing now to the upside
2012-11-01 16:39:04 [Message] fib_1618 -> Chat: so even if we get a jobs number is a negative "surprise" tomorrow
2012-11-01 16:39:19 [Message] fib_1618 -> Chat: it should be taken in stride for a firm close into the weekend
2012-11-01 16:39:34 [Message] fib_1618 -> Chat: looking at the NDX components
2012-11-01 16:39:42 [Message] fib_1618 -> Chat: and we see that we got a positive crossover today
2012-11-01 16:39:54 [Message] fib_1618 -> Chat: but both components remain below their zero line
2012-11-01 16:40:12 [Message] fib_1618 -> Chat: which, minimally speaking, further suggests corrective behavior
2012-11-01 16:40:23 [Message] fib_1618 -> Chat: and just like magic
2012-11-01 16:40:36 [Message] fib_1618 -> Chat: we seem to be finding some support at around the -500 level on the NDX breadth MCSUM
2012-11-01 16:40:46 [Message] fib_1618 -> Chat: which also was our downside objective for this move
2012-11-01 16:40:55 [Message] fib_1618 -> Chat: and since we have no other targets for this MCSUM
2012-11-01 16:41:10 [Message] fib_1618 -> Chat: here too...we may have seen a reversal today in the direction of money flow
2012-11-01 16:41:29 [Message] fib_1618 -> Chat: the near term problem though for the bulls
2012-11-01 16:41:57 [Message] fib_1618 -> Chat: is that we'll need to see this MCSUM move back above the -250 level before we'll be "in the clear" for such a reversal
2012-11-01 16:42:09 [Message] fib_1618 -> Chat: for now...it can only be classified as a technical pause
2012-11-01 16:42:19 [Message] hkk -> Chat: above -250, and the low is likely in?
2012-11-01 16:42:31 [Message] fib_1618 -> Chat: "a" low is in
2012-11-01 16:42:41 [Message] fib_1618 -> Chat: "the" low yet to be determined
2012-11-01 16:42:43 [Message] fib_1618 -> Chat: remember
2012-11-01 16:43:05 [Message] fib_1618 -> Chat: the key here is getting enough energy to move up and out of the corrective sequence
2012-11-01 16:43:14 [Message] fib_1618 -> Chat: whether it be the NYA related trading range
2012-11-01 16:43:31 [Message] fib_1618 -> Chat: or the tops beneath tops structure of the NASDAQ and NDX
2012-11-01 16:43:44 [Message] fib_1618 -> Chat: my thinking here
2012-11-01 16:44:01 [Message] fib_1618 -> Chat: is that we're still going to need a few more weeks to have enough underlying support to break out
2012-11-01 16:44:23 [Message] fib_1618 -> Chat: and once again, depending on the election
2012-11-01 16:44:52 [Message] fib_1618 -> Chat: whether or not there will be a heavy influence to sell since capital gains will be going up some 8% on January 1st if nothing is done before hand
2012-11-01 16:45:22 [Message] fib_1618 -> Chat: I know a couple of business owners who now have their businesses up for sale because of this
2012-11-01 16:45:32 [Message] fib_1618 -> Chat: problem is
2012-11-01 16:45:41 [Message] fib_1618 -> Chat: there is now a glut of businesses on the market right now because of this capital gains tax issue
2012-11-01 16:45:46 [Message] fib_1618 -> Chat: and usually when that happens
2012-11-01 16:45:56 [Message] fib_1618 -> Chat: it's a buyers market...and not the sellers
2012-11-01 16:46:17 [Message] fib_1618 -> Chat: as the sellers are not likely to get their asking price
2012-11-01 16:46:25 [Message] fib_1618 -> Chat: and the pressure mounts as the days pass
2012-11-01 16:46:35 [Message] fib_1618 -> Chat: to be sure
2012-11-01 16:46:41 [Message] fib_1618 -> Chat: this is a very important election
2012-11-01 16:47:02 [Message] fib_1618 -> Chat: maybe the most important since Regan/Carter
2012-11-01 16:48:11 [Message] fib_1618 -> Chat: and like I mentioned last week
2012-11-01 16:48:22 [Message] fib_1618 -> Chat: we have a very big election here in California next week
2012-11-01 16:48:33 [Message] fib_1618 -> Chat: where if any of these new tax proposals are passed
2012-11-01 16:48:56 [Message] fib_1618 -> Chat: I know several owners who will either be moving out of state...or out of the country
2012-11-01 16:49:04 [Message] thespookyone -> Chat: I saw your gasoline prices on a heat map the other day, WOW
2012-11-01 16:49:17 [Message] fib_1618 -> Chat: well...thankfully
2012-11-01 16:49:20 [Message] fib_1618 -> Chat: they are down again
2012-11-01 16:49:22 [Message] fib_1618 -> Chat: in fact
2012-11-01 16:49:34 [Message] fib_1618 -> Chat: they are lower now than they were before the problems with the refineries
2012-11-01 16:49:46 [Message] fib_1618 -> Chat: we were at 3.83 for 87 before the problem
2012-11-01 16:49:52 [Message] thespookyone -> Chat: I pd 3.20 in Ohio today...
2012-11-01 16:49:56 [Message] fib_1618 -> Chat: zoomed up to 4.48
2012-11-01 16:50:03 [Message] fib_1618 -> Chat: and now we're down to 3.73
2012-11-01 16:50:17 [Message] fib_1618 -> Chat: and yours could be going up
2012-11-01 16:50:30 [Message] fib_1618 -> Chat: because of the demand from the coastal states
2012-11-01 16:50:49 [Message] fib_1618 -> Chat: let me take a look at a futures chart for a moment
2012-11-01 16:51:30 [Message] fib_1618 -> Chat: stable
2012-11-01 16:51:36 [Message] fib_1618 -> Chat: trading at around 2.70
2012-11-01 16:51:49 [Message] fib_1618 -> Chat: 2.63 today
2012-11-01 16:51:52 [Message] fib_1618 -> Chat: so you might be OK
2012-11-01 16:51:58 [Message] fib_1618 -> Chat: but on the coast
2012-11-01 16:52:07 [Message] thespookyone -> Chat: good!
2012-11-01 16:52:18 [Message] fib_1618 -> Chat: supply and demand will show some inconsistencies
2012-11-01 16:52:43 [Message] fib_1618 -> Chat: you know
2012-11-01 16:52:46 [Message] fib_1618 -> Chat: given everything we know
2012-11-01 16:52:52 [Message] fib_1618 -> Chat: and gas is not even rallying here
2012-11-01 16:52:57 [Message] fib_1618 -> Chat: it could be a good short
2012-11-01 16:53:00 [Message] fib_1618 -> Chat: :)
2012-11-01 16:53:04 [Message] fib_1618 -> Chat: no recommendation
2012-11-01 16:53:28 [Message] fib_1618 -> Chat: even crude is trading in a narrow range
2012-11-01 16:53:38 [Message] fib_1618 -> Chat: so it must be that there is plenty of gasoline in storage there
2012-11-01 16:53:49 [Message] fib_1618 -> Chat: but unless you have electricity to work the pump
2012-11-01 16:53:57 [Message] fib_1618 -> Chat: you're stuck
2012-11-01 16:54:19 [Message] fib_1618 -> Chat: disasters like this are no fun
2012-11-01 16:54:29 [Message] fib_1618 -> Chat: floods are the worse
2012-11-01 16:54:40 [Message] fib_1618 -> Chat: back to the SPX
2012-11-01 16:54:55 [Message] fib_1618 -> Chat: and we see that the SPX breadth MCSUM is also trying to find support at its zero line
2012-11-01 16:55:10 [Message] fib_1618 -> Chat: and that target has now been reached as well
2012-11-01 16:55:29 [Message] thespookyone -> Chat: I had to buy a gas powered pump for my basement-sumo pumps no good without electricity-and a TON of rain...
2012-11-01 16:55:30 [Message] fib_1618 -> Chat: very same thing with the OEX breadth MCSUM
2012-11-01 16:55:44 [Message] fib_1618 -> Chat: I figured you would have
2012-11-01 16:56:05 [Message] fib_1618 -> Chat: the problem with intense low pressure cells like that one
2012-11-01 16:56:20 [Message] fib_1618 -> Chat: is that you can be hit hard if you're 200 miles around from the center of the low
2012-11-01 16:56:38 [Message] fib_1618 -> Chat: and since it made a path though central Pennsylvania
2012-11-01 16:56:49 [Message] fib_1618 -> Chat: everyone in Ohio felt the power of the storm
2012-11-01 16:56:54 [Message] fib_1618 -> Chat: maybe not so much the wind
2012-11-01 16:56:58 [Message] fib_1618 -> Chat: but the rain...for sure
2012-11-01 16:56:59 [Message] fib_1618 -> Chat: and then
2012-11-01 16:57:01 [Message] fib_1618 -> Chat: it's fall
2012-11-01 16:57:16 [Message] thespookyone -> Chat: we had 60 MPH, still fairly rough...
2012-11-01 16:57:36 [Message] fib_1618 -> Chat: and all those leaves blocking the gutters
2012-11-01 16:57:44 [Message] fib_1618 -> Chat: yes...60 is not fun
2012-11-01 16:57:55 [Message] fib_1618 -> Chat: anything above 60 and you really have to board your windows
2012-11-01 16:58:01 [Message] thespookyone -> Chat: yep
2012-11-01 16:58:23 [Message] fib_1618 -> Chat: I spoke to someone who lives directly across from NYC today (in New Jersey)
2012-11-01 16:58:35 [Message] fib_1618 -> Chat: and she said that her house shook during Monday night's arrival
2012-11-01 16:58:44 [Message] thespookyone -> Chat: whoa
2012-11-01 16:58:44 [Message] fib_1618 -> Chat: but their windows held...
2012-11-01 16:58:58 [Message] fib_1618 -> Chat: and they hung out in the basement and hoped there were no flood waters...scarey stuff
2012-11-01 16:59:40 [Message] fib_1618 -> Chat: the Dow breadth MCO is also in the process of snapping back up toward its zero line
2012-11-01 17:00:08 [Message] fib_1618 -> Chat: and this has stalled the downside direction of the Dow breadth MCSUM right as it approaches its zero line
2012-11-01 17:00:19 [Message] fib_1618 -> Chat: and keep in mind
2012-11-01 17:00:27 [Message] fib_1618 -> Chat: if we're at the zero line on the MCO and the MCSUM
2012-11-01 17:00:33 [Message] fib_1618 -> Chat: we are basically evened up
2012-11-01 17:00:44 [Message] fib_1618 -> Chat: where one side can now take control
2012-11-01 17:01:00 [Message] fib_1618 -> Chat: we'll call it "indecisive behavior"
2012-11-01 17:01:21 [Message] fib_1618 -> Chat: moving to the MID
2012-11-01 17:01:34 [Message] fib_1618 -> Chat: and as we talked about last week
2012-11-01 17:02:01 [Message] fib_1618 -> Chat: this was the index to watch for any upside leadership qualities based solely on the the bottom above bottoms pattern in the MID breadth MCO
2012-11-01 17:02:05 [Message] fib_1618 -> Chat: and look what happened today
2012-11-01 17:02:10 [Message] fib_1618 -> Chat: up nearly 2.5%
2012-11-01 17:02:32 [Message] fib_1618 -> Chat: and basically erasing all of the loses from October in one day
2012-11-01 17:02:56 [Message] hkk -> Chat: if the MID MCO moves above the October highs, would there be a solid base internally to launch a rally from?
2012-11-01 17:03:00 [Message] fib_1618 -> Chat: noting that the MID breadth MCSUM has already had both a ledge and fishhook pattern
2012-11-01 17:03:13 [Message] fib_1618 -> Chat: it's now highly probable that we have a change in direction now
2012-11-01 17:03:20 [Message] fib_1618 -> Chat: yes
2012-11-01 17:03:29 [Message] fib_1618 -> Chat: it is, by far, the leader here
2012-11-01 17:03:35 [Message] fib_1618 -> Chat: and what's interesting
2012-11-01 17:03:42 [Message] fib_1618 -> Chat: remembering back to September and October
2012-11-01 17:03:46 [Message] fib_1618 -> Chat: it was the weakest index
2012-11-01 17:04:01 [Message] fib_1618 -> Chat: and that eventually led to the tradable top we saw mid month
2012-11-01 17:04:18 [Message] fib_1618 -> Chat: so if the SML data looks anything like this
2012-11-01 17:04:30 [Message] fib_1618 -> Chat: then this would increase the odds of a more important bottom
2012-11-01 17:04:31 [Message] fib_1618 -> Chat: if not
2012-11-01 17:04:35 [Message] fib_1618 -> Chat: it smells
2012-11-01 17:04:40 [Message] fib_1618 -> Chat: and likely to be corrective
2012-11-01 17:04:45 [Message] fib_1618 -> Chat: let's see
2012-11-01 17:05:05 [Message] fib_1618 -> Chat: well...it's kind of too soon to really say here
2012-11-01 17:05:12 [Message] fib_1618 -> Chat: the reason being is that
2012-11-01 17:05:47 [Message] fib_1618 -> Chat: we are attempting to find a supportable low in the SML breadth MCSUM right at the lows of August
2012-11-01 17:06:08 [Message] fib_1618 -> Chat: and we not seeing the same kind of amplitude to the upside as we are with the MID breadth MCO
2012-11-01 17:06:31 [Message] fib_1618 -> Chat: also notice the different pattern structures between the two
2012-11-01 17:06:38 [Message] fib_1618 -> Chat: the MID being in a trading range
2012-11-01 17:07:06 [Message] fib_1618 -> Chat: while the SML is under the influence of a declining tops line that still hasn't been broken
2012-11-01 17:07:19 [Message] fib_1618 -> Chat: and won't have a chance to until.....what??
2012-11-01 17:07:27 [Message] fib_1618 -> Chat: let's all say it together
2012-11-01 17:07:34 [Message] fib_1618 -> Chat: "until we take out the mid October MCO highs"
2012-11-01 17:07:51 [Message] fib_1618 -> Chat: on the constructive side
2012-11-01 17:08:02 [Message] fib_1618 -> Chat: we do have a bottom above a bottom now in the SML breadth MCO
2012-11-01 17:08:12 [Message] fib_1618 -> Chat: and it's a divergent one at that
2012-11-01 17:08:25 [Message] fib_1618 -> Chat: so any further strength here above these same mid October highs
2012-11-01 17:08:32 [Message] fib_1618 -> Chat: and we'll have bull divergence in place
2012-11-01 17:08:39 [Message] fib_1618 -> Chat: and if for anything else
2012-11-01 17:08:59 [Message] fib_1618 -> Chat: that will provide a platform from where an advancing price structure will have its support
2012-11-01 17:09:50 [Message] fib_1618 -> Chat: we've also been been below the SML breadth MCO zero line now for our customary 4-6 week period now
2012-11-01 17:09:59 [Message] fib_1618 -> Chat: so some time above the zero line is to be fully expected
2012-11-01 17:10:22 [Message] fib_1618 -> Chat: to at least provide some overall balance to the short term trend of this same money flow quotient
2012-11-01 17:10:32 [Message] fib_1618 -> Chat: one thing's for sure
2012-11-01 17:10:40 [Message] fib_1618 -> Chat: you don't really want to be short now
2012-11-01 17:10:52 [Message] fib_1618 -> Chat: nor do you want to look for an entry to short
2012-11-01 17:10:57 [Message] fib_1618 -> Chat: that time has passed
2012-11-01 17:11:10 [Message] fib_1618 -> Chat: but another opportunity may come up mid month
2012-11-01 17:11:50 [Message] fib_1618 -> Chat: and the TM breadth MCO is pretty much dead neutral here going into the jobs data
2012-11-01 17:11:56 [Message] fib_1618 -> Chat: no less the election
2012-11-01 17:12:15 [Message] fib_1618 -> Chat: so a really bad number could favor a Romney win
2012-11-01 17:12:26 [Message] fib_1618 -> Chat: a really good number might be in favor of Obama
2012-11-01 17:12:37 [Message] fib_1618 -> Chat: if it comes in as expected
2012-11-01 17:12:50 [Message] fib_1618 -> Chat: we're probably going to chop around until Wednesday
2012-11-01 17:13:05 [Message] fib_1618 -> Chat: when, HOPEFULLY, clarity is known
2012-11-01 17:13:09 [Message] fib_1618 -> Chat: remember
2012-11-01 17:13:34 [Message] fib_1618 -> Chat: the President of the United States is not elected by the popular vote
2012-11-01 17:13:52 [Message] fib_1618 -> Chat: he is elected by the Electoral College
2012-11-01 17:14:00 [Message] thespookyone -> Chat: I think that IS an issue here, I bet it splits
2012-11-01 17:14:02 [Message] fib_1618 -> Chat: (thankfully)
2012-11-01 17:14:09 [Message] fib_1618 -> Chat: it could
2012-11-01 17:14:10 [Message] fib_1618 -> Chat: and then
2012-11-01 17:14:28 [Message] fib_1618 -> Chat: we'll have to wait until early December for the College vote in Congress
2012-11-01 17:14:44 [Message] fib_1618 -> Chat: I think it's December 12th
2012-11-01 17:14:54 [Message] fib_1618 -> Chat: that would be a Wednesday
2012-11-01 17:14:57 [Message] fib_1618 -> Chat: and then
2012-11-01 17:15:05 [Message] fib_1618 -> Chat: all the lawsuits
2012-11-01 17:15:08 [Message] fib_1618 -> Chat: etc
2012-11-01 17:15:17 [Message] fib_1618 -> Chat: so like we talked about last week
2012-11-01 17:15:30 [Message] fib_1618 -> Chat: unless one wins the popular vote by about 6%
2012-11-01 17:15:37 [Message] fib_1618 -> Chat: there's going to be a problem
2012-11-01 17:15:44 [Message] fib_1618 -> Chat: :P
2012-11-01 17:15:49 [Message] thespookyone -> Chat: the electoral college doesn't finish till Dec?
2012-11-01 17:15:58 [Message] fib_1618 -> Chat: the process is
2012-11-01 17:16:08 [Message] fib_1618 -> Chat: each state has their number of Federal delegates
2012-11-01 17:16:25 [Message] fib_1618 -> Chat: they represent the popular vote of their district
2012-11-01 17:16:33 [Message] fib_1618 -> Chat: most states have all or none
2012-11-01 17:16:46 [Message] fib_1618 -> Chat: a couple of states (I think Maine and Nebraska) will break it down to each delegates representation
2012-11-01 17:16:54 [Message] fib_1618 -> Chat: if there is no clear winner
2012-11-01 17:17:06 [Message] fib_1618 -> Chat: the delegates go to Washington to take a physical vote in December
2012-11-01 17:17:28 [Message] fib_1618 -> Chat: I'm trying to remember what happens if there is still no clear winner
2012-11-01 17:17:41 [Message] fib_1618 -> Chat: but I do believe that there is political negotiations that go on and slowly they come up with a quorum enough to get to 270
2012-11-01 17:18:01 [Message] fib_1618 -> Chat: no, I think it's outlined in the 12th (?) amendment of the Constitution
2012-11-01 17:18:34 [Message] fib_1618 -> Chat: anyway it is, by far, the fairest way to elect someone to this high degree of government
2012-11-01 17:18:45 [Message] fib_1618 -> Chat: as the founding fathers knew
2012-11-01 17:19:06 [Message] fib_1618 -> Chat: that if certain population centers had the most poltical weight
2012-11-01 17:19:20 [Message] fib_1618 -> Chat: that those with lesser populations would have no say
2012-11-01 17:19:40 [Message] fib_1618 -> Chat: so each states delegate count is based on their population...the number of representatives in both houses of Congress
2012-11-01 17:19:48 [Message] fib_1618 -> Chat: California being the largest with 55
2012-11-01 17:19:57 [Message] fib_1618 -> Chat: and several states tied with 3
2012-11-01 17:20:09 [Message] fib_1618 -> Chat: Ohio (I think) has 18
2012-11-01 17:20:39 [Message] fib_1618 -> Chat: anyway...enough of this...let's take a quick look at the sectors
2012-11-01 17:21:09 [Message] fib_1618 -> Chat: the XLY breadth MCO has also snapped back to its zero line
2012-11-01 17:21:17 [Message] fib_1618 -> Chat: and like several of the index charts
2012-11-01 17:21:32 [Message] fib_1618 -> Chat: we see that the last low in this MCO also moved to a lower point in the pattern
2012-11-01 17:22:08 [Message] fib_1618 -> Chat: this, in and of itself, suggests that we're likely to see some additional back and fill to create more texture to the pattern
2012-11-01 17:22:24 [Message] fib_1618 -> Chat: so that all of the remaining traders who wish to sell ...will...and divergently so
2012-11-01 17:22:37 [Message] fib_1618 -> Chat: looking at the price chart
2012-11-01 17:22:52 [Message] fib_1618 -> Chat: we see that we've had a classic snapback to the old highs
2012-11-01 17:22:58 [Message] fib_1618 -> Chat: and found support at these levels today
2012-11-01 17:23:25 [Message] fib_1618 -> Chat: so...overall, OK for the longer term
2012-11-01 17:24:02 [Message] fib_1618 -> Chat: but for the intermediate term, we probably have another couple of weeks of construction to be expect before we see a chance for new all time price highs
2012-11-01 17:24:35 [Message] fib_1618 -> Chat: the XLP breadth MCO looks a little more constructive
2012-11-01 17:24:49 [Message] fib_1618 -> Chat: since we were able to put in a small bottom above a bottom in the structure
2012-11-01 17:25:00 [Message] fib_1618 -> Chat: and not streak higher as we saw with the XLY data
2012-11-01 17:25:17 [Message] fib_1618 -> Chat: remembering, of course, that when we do see these quick moves up and down in the MCO
2012-11-01 17:25:32 [Message] fib_1618 -> Chat: it tells us that neither side really has control of things
2012-11-01 17:25:47 [Message] fib_1618 -> Chat: that much of any price movement is likely to be volatile as well
2012-11-01 17:25:57 [Message] fib_1618 -> Chat: and more emotional than fundamentally driven
2012-11-01 17:26:22 [Message] fib_1618 -> Chat: zero line snapback complete on the XLE breadth MCO
2012-11-01 17:26:24 [Message] fib_1618 -> Chat: and once again
2012-11-01 17:26:47 [Message] fib_1618 -> Chat: notice how congested the individual postings are on the XLE breadth MCSUM
2012-11-01 17:27:01 [Message] fib_1618 -> Chat: showing very little real conviction by the sellers
2012-11-01 17:27:21 [Message] fib_1618 -> Chat: and taking ruler to monitor
2012-11-01 17:27:39 [Message] fib_1618 -> Chat: and connecting the February and August price highs
2012-11-01 17:27:52 [Message] fib_1618 -> Chat: we see that we just finished snapping back to this same declining tops line
2012-11-01 17:28:09 [Message] fib_1618 -> Chat: near term
2012-11-01 17:28:20 [Message] fib_1618 -> Chat: the bulls would love to close the price gap seen in the 21 day chart
2012-11-01 17:28:40 [Message] fib_1618 -> Chat: but it's going to take a upward thrust above the MCO zero line to do that
2012-11-01 17:28:47 [Message] fib_1618 -> Chat: we'll see how that goes
2012-11-01 17:29:15 [Message] fib_1618 -> Chat: the XLF data remains in pause mode
2012-11-01 17:29:34 [Message] fib_1618 -> Chat: and we can see this "pause" by looking at the XLF breadth MCSUM
2012-11-01 17:29:48 [Message] fib_1618 -> Chat: which continues to find good buying support at the +250 level
2012-11-01 17:30:15 [Message] fib_1618 -> Chat: but in order to clear the October price highs and stay there
2012-11-01 17:30:27 [Message] fib_1618 -> Chat: we'll need to see the MCSUM move above the +500 level
2012-11-01 17:30:37 [Message] fib_1618 -> Chat: where we see that we were turned away twice before
2012-11-01 17:31:19 [Message] fib_1618 -> Chat: the XLV is getting a little tricky here
2012-11-01 17:31:47 [Message] fib_1618 -> Chat: which is not too surprising given that the upcoming election on Tuesday and its probable ramifications for this sector
2012-11-01 17:32:12 [Message] fib_1618 -> Chat: short term...the XLV breadth MCO is back to its zero line and neutral
2012-11-01 17:32:27 [Message] fib_1618 -> Chat: but the XLV breadth MCSUM is still well above its zero line
2012-11-01 17:32:42 [Message] fib_1618 -> Chat: supporting a +559 reading
2012-11-01 17:32:48 [Message] fib_1618 -> Chat: the tricky part here
2012-11-01 17:33:17 [Message] fib_1618 -> Chat: is that we did make a new low extreme in the XLV breadth MCO a little over a week ago
2012-11-01 17:33:21 [Message] fib_1618 -> Chat: and looking at the pattern
2012-11-01 17:33:27 [Message] fib_1618 -> Chat: and applying daily volume to it
2012-11-01 17:33:45 [Message] fib_1618 -> Chat: we could be looking at a complex head and shoulders pattern with a double head
2012-11-01 17:33:57 [Message] fib_1618 -> Chat: or like many like to call it...a double top
2012-11-01 17:34:35 [Message] fib_1618 -> Chat: notice also that the current consolidation in prices are occurring exactly at the same levels we saw in last September
2012-11-01 17:34:46 [Message] fib_1618 -> Chat: giving us a some nice symmetry to the pattern
2012-11-01 17:34:51 [Message] fib_1618 -> Chat: on the bullish side
2012-11-01 17:35:01 [Message] fib_1618 -> Chat: with the MCSUM still above the +500 level
2012-11-01 17:35:16 [Message] fib_1618 -> Chat: we're likely to see higher price highs before we actually see a tradable top there
2012-11-01 17:35:37 [Message] fib_1618 -> Chat: so...this one is worth the price of admission...and to take a seat in the stands as an observer
2012-11-01 17:36:15 [Message] fib_1618 -> Chat: we're showing some really nice strength still in the XLI data
2012-11-01 17:36:31 [Message] fib_1618 -> Chat: which is important as to the probable direction of the Dow and the Transports
2012-11-01 17:36:53 [Message] fib_1618 -> Chat: notice here the series of bottoms above bottoms in place prior to this recent strength
2012-11-01 17:37:06 [Message] fib_1618 -> Chat: so these "textural" patterns do have their forecasting merit
2012-11-01 17:37:43 [Message] fib_1618 -> Chat: and in order to get the XLI breadth MCSUM above the important +250 level
2012-11-01 17:37:55 [Message] fib_1618 -> Chat: it will have to be done with a new high in the MCO
2012-11-01 17:38:24 [Message] fib_1618 -> Chat: notice also how stubborn the price pattern has been over the last month
2012-11-01 17:38:53 [Message] fib_1618 -> Chat: which, of course, is being helped by this same series of bottoms seen in the MCO
2012-11-01 17:38:57 [Message] fib_1618 -> Chat: no less the MCSUM
2012-11-01 17:39:19 [Message] fib_1618 -> Chat: this is one of the reasons why were not able to get too beared up here
2012-11-01 17:39:37 [Message] fib_1618 -> Chat: and that our position was to "hold...with appropriate stops"
2012-11-01 17:39:40 [Message] fib_1618 -> Chat: not to sell
2012-11-01 17:39:43 [Message] fib_1618 -> Chat: or to short
2012-11-01 17:39:47 [Message] fib_1618 -> Chat: but to pause
2012-11-01 17:39:49 [Message] fib_1618 -> Chat: hold
2012-11-01 17:40:21 [Message] fib_1618 -> Chat: notice also how the XLB breadth MCO also has this series of bottoms holding things together here
2012-11-01 17:40:34 [Message] fib_1618 -> Chat: and looking at the XLB breadth MCSUM
2012-11-01 17:40:48 [Message] fib_1618 -> Chat: you can actually see the struggle between buyers and sellers
2012-11-01 17:41:15 [Message] fib_1618 -> Chat: so although the bears have a slight advantage in the raw data
2012-11-01 17:41:35 [Message] fib_1618 -> Chat: the bulls continue to show that their position is being meet with less and less resistance
2012-11-01 17:41:53 [Message] fib_1618 -> Chat: we also closed the pattern gap today in the price chart
2012-11-01 17:42:22 [Message] fib_1618 -> Chat: so that's a bullish indication of the likelihood of the next directional move
2012-11-01 17:42:56 [Message] fib_1618 -> Chat: even the XLK breadth MCO is supporting divergent structure now
2012-11-01 17:43:07 [Message] fib_1618 -> Chat: and all that's needed to trigger this divergence is....?
2012-11-01 17:43:16 [Message] fib_1618 -> Chat: that's right
2012-11-01 17:43:17 [Message] hkk -> Chat: Oct high
2012-11-01 17:43:21 [Message] fib_1618 -> Chat: a move above the October highs
2012-11-01 17:43:39 [Message] fib_1618 -> Chat: it's nice when the market lays it out for you
2012-11-01 17:44:02 [Message] hkk -> Chat: volume MCO already moved above the Oct highs in the NASDAQ and the XLK
2012-11-01 17:44:02 [Message] fib_1618 -> Chat: and the XLU is now neutral overall
2012-11-01 17:44:10 [Message] fib_1618 -> Chat: and that's good news
2012-11-01 17:44:28 [Message] fib_1618 -> Chat: because we want to see volume either leading or moving in sync with breadth
2012-11-01 17:44:38 [Message] fib_1618 -> Chat: we'll look at that tomorrow...thanks for the heads up!
2012-11-01 17:45:13 [Message] fib_1618 -> Chat: so...overall...it would appear that we're in the beginning stages of creating a tradable low
2012-11-01 17:45:22 [Message] fib_1618 -> Chat: for several of the major indices
2012-11-01 17:45:35 [Message] fib_1618 -> Chat: we will probably need another week or so to accomplish this
2012-11-01 17:45:40 [Message] fib_1618 -> Chat: but in a couple of cases
2012-11-01 17:45:48 [Message] fib_1618 -> Chat: and with the MID significantly
2012-11-01 17:46:30 [Message] fib_1618 -> Chat: there seems to be some good underlying strength currently to where a test, if not an all out breakout above the prior highs, can be doable now if and when the mid October MCO levels are able to be take out
2012-11-01 17:46:39 [Message] fib_1618 -> Chat: moving to the volume oscillators
2012-11-01 17:47:05 [Message] fib_1618 -> Chat: all of the STVO's remain "oversold"
2012-11-01 17:47:12 [Message] fib_1618 -> Chat: the Dow VTO is now "oversold"
2012-11-01 17:47:25 [Message] fib_1618 -> Chat: and all of the CVI's are positive, but not climactic
2012-11-01 17:47:33 [Message] fib_1618 -> Chat: with the Dow though
2012-11-01 17:48:00 [Message] fib_1618 -> Chat: it's now sufficiently "oversold" to where we might see a stealth rally of sorts
2012-11-01 17:48:08 [Message] fib_1618 -> Chat: where the Dow will show great gains
2012-11-01 17:48:19 [Message] fib_1618 -> Chat: but they may not be confirmed by many other indices
2012-11-01 17:48:46 [Message] fib_1618 -> Chat: which, again, would be under the classification of an Elliott counter corrective structure (B or X wave)
2012-11-01 17:49:05 [Message] fib_1618 -> Chat: NYSE TRIN at .83
2012-11-01 17:49:13 [Message] fib_1618 -> Chat: Open 10 at 1.18
2012-11-01 17:49:24 [Message] fib_1618 -> Chat: highly "oversold" (still)
2012-11-01 17:49:31 [Message] fib_1618 -> Chat: again..when we get below 1.10 on the Open 10
2012-11-01 17:49:49 [Message] fib_1618 -> Chat: it becomes very difficult for the sellers to push prices in their direction
2012-11-01 17:50:19 [Message] fib_1618 -> Chat: it can happen...but it's usually based on a emotional news event and not consistent to the natural ebb and flow
2012-11-01 17:50:46 [Message] fib_1618 -> Chat: Report just came on my phone: "Plead for food coming from Staten Island"
2012-11-01 17:50:58 [Message] fib_1618 -> Chat: sad
2012-11-01 17:51:00 [Message] fib_1618 -> Chat: sigh
2012-11-01 17:51:13 [Message] fib_1618 -> Chat: NASDAQ TRIN at .42
2012-11-01 17:51:18 [Message] fib_1618 -> Chat: lots of short covering there
2012-11-01 17:51:28 [Message] fib_1618 -> Chat: Open 10 at 1.08
2012-11-01 17:51:34 [Message] fib_1618 -> Chat: still "oversold"
2012-11-01 17:52:12 [Message] fib_1618 -> Chat: Tokyo up 1.2% and Korea up the same at the open
2012-11-01 17:52:24 [Message] fib_1618 -> Chat: TM TRIN at .56
2012-11-01 17:52:37 [Message] fib_1618 -> Chat: Open 10 at (wow) 1.15
2012-11-01 17:52:45 [Message] fib_1618 -> Chat: so....
2012-11-01 17:52:59 [Message] fib_1618 -> Chat: any sell off in the morning could be a nice buying op
2012-11-01 17:53:06 [Message] fib_1618 -> Chat: for maybe a hit and run at this point
2012-11-01 17:53:17 [Message] fib_1618 -> Chat: if, however, breadth continues to expand
2012-11-01 17:53:37 [Message] fib_1618 -> Chat: this would be an indication that a pattern price low is behind us for now
2012-11-01 17:54:02 [Message] fib_1618 -> Chat: in summary...the bulls have the ball...2nd down and 5 :)
2012-11-01 17:54:08 [Message] fib_1618 -> Chat: anything else?
2012-11-01 17:54:30 [Message] hkk -> Chat: if we take out the Oct highs on the MCOs, is it possible that we have already seen the price lows and now impulsing to the upside?
2012-11-01 17:54:48 [Message] fib_1618 -> Chat: we'll see...
2012-11-01 17:54:50 [Message] fib_1618 -> Chat: but
2012-11-01 17:54:58 [Message] fib_1618 -> Chat: the answer to your question would be
2012-11-01 17:55:30 [Message] fib_1618 -> Chat: those MCO's that have bottoms above bottoms are in a position to rally
2012-11-01 17:56:04 [Message] fib_1618 -> Chat: while those MCO's that recently made lower lows will likely see some additional back and fill before they have the stability to build a structure
2012-11-01 17:56:09 [Message] fib_1618 -> Chat: think of it this way
2012-11-01 17:56:12 [Message] fib_1618 -> Chat: if you have a ladder
2012-11-01 17:56:27 [Message] fib_1618 -> Chat: and you have solid concrete below you on both feet
2012-11-01 17:56:52 [Message] fib_1618 -> Chat: then you're able to climb higher than you would if one of the legs was in quick sand
2012-11-01 17:56:55 [Message] fib_1618 -> Chat: :)
2012-11-01 17:57:00 [Message] fib_1618 -> Chat: or just mud
2012-11-01 17:57:09 [Message] fib_1618 -> Chat: where the higher you try to go
2012-11-01 17:57:18 [Message] fib_1618 -> Chat: the likelihood of the ladder being unstable and you falling off
2012-11-01 17:57:29 [Message] fib_1618 -> Chat: so the MID looks good here
2012-11-01 17:57:38 [Message] fib_1618 -> Chat: and there are several sectors as well
2012-11-01 17:57:46 [Message] fib_1618 -> Chat: but the total market still has some work to do
2012-11-01 17:58:00 [Message] fib_1618 -> Chat: and like we talked about a couple of weeks ago
2012-11-01 17:58:18 [Message] fib_1618 -> Chat: it's probably going to take 3 to 4 weeks for this to develop
2012-11-01 17:58:42 [Message] fib_1618 -> Chat: just take it slow...and allow the market to tell YOU when its OK to put a toe in, no less and arm and a leg
2012-11-01 17:58:49 [Message] fib_1618 -> Chat: we have another chat tomorrow
2012-11-01 17:59:02 [Message] fib_1618 -> Chat: we'll look at the volume side of the equation and see how things are going
2012-11-01 17:59:10 [Message] fib_1618 -> Chat: anything else?
2012-11-01 17:59:36 [Message] hkk -> Chat: OK thanks
2012-11-01 17:59:47 [Message] fib_1618 -> Chat: Oh boy...people are diving into dumpsters now for food :(
2012-11-01 18:00:04 [Message] fib_1618 -> Chat: anyway...
2012-11-01 18:00:25 [Message] fib_1618 -> Chat: we'll see how this all sorts out...and have some sort of plan to work with over the weekend
2012-11-01 18:00:46 [Message] fib_1618 -> Chat: and a small suggestion
2012-11-01 18:01:01 [Message] fib_1618 -> Chat: if you think you would like to help those who need it right now
2012-11-01 18:01:18 [Message] fib_1618 -> Chat: I highly suggest the Salvation Army
2012-11-01 18:01:31 [Message] hkk -> Chat: good idea
2012-11-01 18:01:42 [Message] fib_1618 -> Chat: I don't personally trust the Red Cross
2012-11-01 18:02:00 [Message] fib_1618 -> Chat: and with the SA I know that you can earmark your donation specifically
2012-11-01 18:02:08 [Message] fib_1618 -> Chat: and with that
2012-11-01 18:02:13 [Message] fib_1618 -> Chat: count your blessings
2012-11-01 18:02:17 [Message] fib_1618 -> Chat: and have a good evening
2012-11-01 18:02:28 [Message] fib_1618 -> Chat: and we'll take a look again at the markets tomorrow
2012-11-01 18:02:30 [Message] fib_1618 -> Chat: good night

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