All donations go towards web site maintenance for all of Technical Watch,
keep it free of charge, and may be tax deductable as an investment expense.

PayPal Verified
Join our market chat sessions every Tuesday and Thursday at 4:00 pm Pacific time!
More information on subscriber services can be found at

Sign up Calendar Latest Topics

Note: This topic is locked. No new replies will be accepted.

  Author   Comment  

Posts: 4,883
Reply with quote  #1 
2013-11-14 15:59:50 [Message] fib_1618 -> Chat: good day
2013-11-14 15:59:53 [Message] fib_1618 -> Chat: how is everyone?
2013-11-14 16:00:55 [Message] fib_1618 -> Chat: to start off...
2013-11-14 16:01:22 [Message] fib_1618 -> Chat: this will be our last scheduled chat until Monday, November 25th
2013-11-14 16:01:43 [Message] fib_1618 -> Chat: and there will be a second one on Tuesday November 26th before we go into the Thanksgiving holiday period
2013-11-14 16:02:19 [Message] fib_1618 -> Chat: you are all welcome to use the chat room in my absence
2013-11-14 16:02:32 [Message] fib_1618 -> Chat: but remember...
2013-11-14 16:02:40 [Message] fib_1618 -> Chat: I read everything in the transcripts
2013-11-14 16:02:44 [Message] fib_1618 -> Chat: so be nice to me [smile]
2013-11-14 16:02:49 [Message] thespookyone -> Chat: UH OH
2013-11-14 16:03:01 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2013-11-14 16:04:54 [Message] fib_1618 -> Chat: OK...then let's get DP up and see what we have to work with
2013-11-14 16:05:29 [Message] fib_1618 -> Chat: the NYA closed at new recovery price highs today
2013-11-14 16:05:42 [Message] fib_1618 -> Chat: and this was confirmed by the NYSE CO breadth MCO
2013-11-14 16:05:59 [Message] fib_1618 -> Chat: which settled at the +17 level today
2013-11-14 16:06:13 [Message] fib_1618 -> Chat: in order for prices to now stay in this new recovery high ground
2013-11-14 16:06:33 [Message] fib_1618 -> Chat: a little more effort by the buyers is needed to move above the +25 level over the next couple of days
2013-11-14 16:06:53 [Message] fib_1618 -> Chat: where we can allow a one day snapback to or toward the zero line
2013-11-14 16:07:12 [Message] fib_1618 -> Chat: before making an effort in rising above this same level
2013-11-14 16:07:35 [Message] fib_1618 -> Chat: both the 10% and 5% components also improved today
2013-11-14 16:07:56 [Message] fib_1618 -> Chat: while the NYSE CO breadth MCSUM had a good follow through day to the upside
2013-11-14 16:08:44 [Message] fib_1618 -> Chat: with the near term objective of attempting to close the MCSUM gap resistance area that was created with the spike lows of last Thursday
2013-11-14 16:08:52 [Message] fib_1618 -> Chat: looking at the close up 21 day chart
2013-11-14 16:09:35 [Message] fib_1618 -> Chat: we see that this resistance zone is where we see the large downward gap that moved through the +600 level
2013-11-14 16:09:45 [Message] fib_1618 -> Chat: if we're then able to close this area
2013-11-14 16:09:55 [Message] fib_1618 -> Chat: then we would be cleared for a challenge of the +750 level
2013-11-14 16:10:20 [Message] fib_1618 -> Chat: where we see the MCSUM pattern found challenging the last time around
2013-11-14 16:10:35 [Message] fib_1618 -> Chat: a break then above this level then would allow prices to accelerate again
2013-11-14 16:10:54 [Message] fib_1618 -> Chat: and it would make a challenge of the all time highs in the NYA a foregone conclusion
2013-11-14 16:10:58 [Message] fib_1618 -> Chat: not a matter of IF
2013-11-14 16:11:03 [Message] fib_1618 -> Chat: only a matter of WHEN
2013-11-14 16:11:25 [Message] fib_1618 -> Chat: moving to the NYSE Composite Breadth MCO
2013-11-14 16:11:34 [Message] fib_1618 -> Chat: and here we finally made it back to the zero line today
2013-11-14 16:11:38 [Message] fib_1618 -> Chat: and in doing so
2013-11-14 16:11:58 [Message] fib_1618 -> Chat: we moved above our blip resistance area
2013-11-14 16:12:21 [Message] fib_1618 -> Chat: and we're now seeing if the snapback to zero resistance point will be able to be taken out as well
2013-11-14 16:12:33 [Message] fib_1618 -> Chat: given the strength we're seeing in the commons
2013-11-14 16:12:45 [Message] fib_1618 -> Chat: which make up some 65% of the issues traded on the NYSE
2013-11-14 16:13:40 [Message] fib_1618 -> Chat: any kind of "stimulus" toward the interest rate sensitive issues that make up around 25% of the issues traded will be the determining factor in whether we'll be able to met this same resistance with success or not
2013-11-14 16:14:27 [Message] fib_1618 -> Chat: even the components here, although back above their zero lines, are still in a crossover sell configuration
2013-11-14 16:14:59 [Message] fib_1618 -> Chat: so we'll have to be just a bit more patient just to make sure that the last two days is something more than just "smoke and mirrors"
2013-11-14 16:15:20 [Message] fib_1618 -> Chat: small point change in the NASDAQ breadth MCO
2013-11-14 16:15:39 [Message] fib_1618 -> Chat: and this is keeping the NASDAQ breadth MCSUM moving sideways right at horizontal support
2013-11-14 16:15:59 [Message] fib_1618 -> Chat: even the components here look a bit congested
2013-11-14 16:16:11 [Message] fib_1618 -> Chat: so nothing clear cut being given at this time
2013-11-14 16:16:40 [Message] fib_1618 -> Chat: the NDX breadth MCO did show continued improvement today
2013-11-14 16:17:13 [Message] fib_1618 -> Chat: and we have now taken out the all important reaction high seen at the end of October
2013-11-14 16:17:31 [Message] fib_1618 -> Chat: this then will allow prices to remain above their old highs
2013-11-14 16:18:00 [Message] fib_1618 -> Chat: with today's price bar providing a simple way of acknowledging this expectation
2013-11-14 16:18:25 [Message] fib_1618 -> Chat: as the intraday lows held within the price congestion area of the old highs
2013-11-14 16:18:37 [Message] fib_1618 -> Chat: and then closed at new highs at the close
2013-11-14 16:19:50 [Message] fib_1618 -> Chat: this then provides the expectation that the broader based NASDAQ Composite will be following the lead of the top 100 issues as they clear the way for higher prices overall
2013-11-14 16:20:23 [Message] fib_1618 -> Chat: continued good follow through as well in the SPX breadth MCO
2013-11-14 16:21:07 [Message] fib_1618 -> Chat: with today's charge being what was needed for the SPX breadth MCSUM to break to new highs within its advancing directional sequence
2013-11-14 16:21:20 [Message] fib_1618 -> Chat: and did so with a gap expansion
2013-11-14 16:21:38 [Message] fib_1618 -> Chat: which showed an increase of money flow moving into this basket of stocks
2013-11-14 16:21:40 [Message] fib_1618 -> Chat: because of this
2013-11-14 16:21:59 [Message] fib_1618 -> Chat: and barring any resistance we might see just above us at the +750 level
2013-11-14 16:22:22 [Message] fib_1618 -> Chat: this has now cleared the way to most likely reach our upside price target of 1825 in the cash SPX
2013-11-14 16:22:52 [Message] fib_1618 -> Chat: in fact
2013-11-14 16:23:13 [Message] fib_1618 -> Chat: the recent consolidation in the price pattern gives us an approximate target now of at least 1800
2013-11-14 16:23:34 [Message] fib_1618 -> Chat: where we might find some psychological resistance once we get there
2013-11-14 16:23:45 [Message] fib_1618 -> Chat: before making the final assault on 1825
2013-11-14 16:24:02 [Message] fib_1618 -> Chat: now...
2013-11-14 16:24:21 [Message] fib_1618 -> Chat: if there is any continued strength in the SPX breadth MCO to take out the reaction highs of late October
2013-11-14 16:24:31 [Message] fib_1618 -> Chat: then we would get new upside targets to work with
2013-11-14 16:24:50 [Message] fib_1618 -> Chat: let me see if I can give some sort of an idea of what that might sec
2013-11-14 16:25:41 [Message] fib_1618 -> Chat: I'm coming up with around 1900
2013-11-14 16:25:55 [Message] fib_1618 -> Chat: under the assumption of equality between price advances
2013-11-14 16:26:08 [Message] fib_1618 -> Chat: now remember
2013-11-14 16:26:37 [Message] fib_1618 -> Chat: the ultimate target that the SPX breadth MCSUM gave back in May was something like 2250 on the SPX
2013-11-14 16:26:46 [Message] fib_1618 -> Chat: I would have to review the chats from that time
2013-11-14 16:26:53 [Message] fib_1618 -> Chat: but I believe that's what the target is
2013-11-14 16:27:09 [Message] fib_1618 -> Chat: so as we continue to stair step higher
2013-11-14 16:27:21 [Message] fib_1618 -> Chat: and as long as the character of the MCO remains friendly
2013-11-14 16:27:44 [Message] fib_1618 -> Chat: the more likely that we're going to meet these same expectations given by the MCSUM
2013-11-14 16:28:07 [Message] fib_1618 -> Chat: good follow through to the upside as well in the OEX breadth MCO
2013-11-14 16:28:33 [Message] fib_1618 -> Chat: and you can see the gap expansion that it created today in the OEX breadth MCSUM..especially on the close up chart
2013-11-14 16:28:45 [Message] fib_1618 -> Chat: this now clears the way for a test of the all time highs in the OEX
2013-11-14 16:28:53 [Message] fib_1618 -> Chat: which I think is 832?
2013-11-14 16:29:00 [Message] fib_1618 -> Chat: I keep forgetting this number
2013-11-14 16:29:03 [Message] fib_1618 -> Chat: let me check again
2013-11-14 16:29:05 [Message] fib_1618 -> Chat: one sec
2013-11-14 16:29:45 [Message] fib_1618 -> Chat: yes
2013-11-14 16:29:49 [Message] fib_1618 -> Chat: 832.65 on a closing basis
2013-11-14 16:30:17 [Message] fib_1618 -> Chat: and we are now 33.96 points away from this target
2013-11-14 16:30:24 [Message] fib_1618 -> Chat: or 4%
2013-11-14 16:30:37 [Message] fib_1618 -> Chat: now....
2013-11-14 16:30:57 [Message] fib_1618 -> Chat: if the OEX breadth MCO is able to take out the highs of October during this sequence
2013-11-14 16:31:14 [Message] fib_1618 -> Chat: then the will allow prices to power through these same highs without too much of a problem
2013-11-14 16:31:37 [Message] fib_1618 -> Chat: especially since the OEX breadth MCSUM is already pushing above the +750 level
2013-11-14 16:32:26 [Message] fib_1618 -> Chat: making it easier for prices to move with larger under lying bids to support the directional sequence
2013-11-14 16:32:32 [Message] fib_1618 -> Chat: any move above +800
2013-11-14 16:32:53 [Message] fib_1618 -> Chat: would then open the door for +1000 before our next chance of a pause in the pattern
2013-11-14 16:33:25 [Message] fib_1618 -> Chat: we see continued improvement in the Dow breadth MCO
2013-11-14 16:33:41 [Message] fib_1618 -> Chat: as well as the 10% Trend which has now moved above comparable pattern resistance
2013-11-14 16:34:28 [Message] fib_1618 -> Chat: the Dow breadth MCSUM has now shown enough dynamic strength now to where a challenge of the +750 level is about as close to a certainty as one can get in this business
2013-11-14 16:34:47 [Message] fib_1618 -> Chat: and as long as the complex bullish structure remains intact in the MCO
2013-11-14 16:35:06 [Message] fib_1618 -> Chat: traders should be able to remain long and strong this index
2013-11-14 16:35:56 [Message] fib_1618 -> Chat: did we figure out the upside target for the Dow based on the basing structure?
2013-11-14 16:36:02 [Message] fib_1618 -> Chat: I think we did last week
2013-11-14 16:36:04 [Message] fib_1618 -> Chat: anyway
2013-11-14 16:36:11 [Message] fib_1618 -> Chat: let me measure it again
2013-11-14 16:36:46 [Message] fib_1618 -> Chat: each inch is 2000 Dow points
2013-11-14 16:36:58 [Message] fib_1618 -> Chat: the length of the base is 2 1/2"
2013-11-14 16:37:05 [Message] fib_1618 -> Chat: so...that would be 5000 Dow points
2013-11-14 16:37:06 [Message] fib_1618 -> Chat: or
2013-11-14 16:37:16 [Message] fib_1618 -> Chat: let's call it 20,000
2013-11-14 16:37:31 [Message] fib_1618 -> Chat: numbing
2013-11-14 16:37:41 [Message] fib_1618 -> Chat: but with all this cash out there
2013-11-14 16:38:15 [Message] fib_1618 -> Chat: and tightening still not on the immediate radar
2013-11-14 16:38:18 [Message] fib_1618 -> Chat: why not?
2013-11-14 16:38:28 [Message] fib_1618 -> Chat: anyway
2013-11-14 16:38:37 [Message] fib_1618 -> Chat: not to sound like Don
2013-11-14 16:38:57 [Message] fib_1618 -> Chat: but this has the classic look and feel of a very large 3rd wave in progress
2013-11-14 16:39:13 [Message] thespookyone -> Chat: BET
2013-11-14 16:39:14 [Message] fib_1618 -> Chat: but our discipline side says...
2013-11-14 16:39:34 [Message] fib_1618 -> Chat: as long as the market keeps proving that it can accomplish targets such as this one
2013-11-14 16:39:40 [Message] fib_1618 -> Chat: then all we have to do is participate
2013-11-14 16:39:54 [Message] fib_1618 -> Chat: for as long, and as high, as it wants to take us
2013-11-14 16:40:04 [Message] fib_1618 -> Chat: we'll get our answers later
2013-11-14 16:40:07 [Message] fib_1618 -> Chat: hmmmm...
2013-11-14 16:40:16 [Message] fib_1618 -> Chat: what if they put ACA on hold?
2013-11-14 16:40:37 [Message] fib_1618 -> Chat: think of the economic stimulus that could provide
2013-11-14 16:41:03 [Message] fib_1618 -> Chat: interesting be sure
2013-11-14 16:41:44 [Message] fib_1618 -> Chat: moving to the MID
2013-11-14 16:41:59 [Message] fib_1618 -> Chat: and like the NYSE Composite
2013-11-14 16:42:08 [Message] fib_1618 -> Chat: the MID breadth MCO continued to improve today as well
2013-11-14 16:42:41 [Message] fib_1618 -> Chat: and we have quickly moved up enough to where we are now challenging our gap resistance zone on the MID breadth MCSUM
2013-11-14 16:42:58 [Message] fib_1618 -> Chat: so any further strength here that might be seen by Monday would be a highly bullish event
2013-11-14 16:43:21 [Message] fib_1618 -> Chat: looking at the close up chart of the MID price pattern
2013-11-14 16:43:38 [Message] fib_1618 -> Chat: and you can see that we're seeing something different here as far as the amplitude of the price bars
2013-11-14 16:43:44 [Message] fib_1618 -> Chat: they are now elongating higher now
2013-11-14 16:44:00 [Message] fib_1618 -> Chat: this is a sign of a rush might be taking place to own this basket of stocks
2013-11-14 16:44:32 [Message] fib_1618 -> Chat: the bids are moving quickly as demand is far outpacing the supply available to purchase
2013-11-14 16:45:28 [Message] fib_1618 -> Chat: and it's pretty much an outcome of having the MID breadth MCSUM already at an accelerated level above the +750 area
2013-11-14 16:45:51 [Message] fib_1618 -> Chat: one thing to consider as well
2013-11-14 16:46:09 [Message] fib_1618 -> Chat: if by some chance enough buying comes in now to make another high in the MCSUM
2013-11-14 16:46:30 [Message] fib_1618 -> Chat: and take out the "double hump" patterns pointed to over the last week
2013-11-14 16:46:53 [Message] fib_1618 -> Chat: this would be a highly bullish event of a bottom above a bottom
2013-11-14 16:47:13 [Message] fib_1618 -> Chat: which is another way of referring to as a textural move in the MCSUM
2013-11-14 16:47:14 [Message] fib_1618 -> Chat: now...
2013-11-14 16:47:23 [Message] fib_1618 -> Chat: this is another rarity...this kind of structure
2013-11-14 16:47:25 [Message] fib_1618 -> Chat: in fact, off hand...
2013-11-14 16:47:36 [Message] fib_1618 -> Chat: I can't think of a time in the past where I've seen something like this
2013-11-14 16:47:46 [Message] fib_1618 -> Chat: but if we put our Elliott hat on for a minute
2013-11-14 16:48:06 [Message] fib_1618 -> Chat: we also know that 3rd waves have the most dynamic numbers in both breadth and volume
2013-11-14 16:48:18 [Message] fib_1618 -> Chat: if this is a 3rd wave of Primary of Cycle degree
2013-11-14 16:49:13 [Message] fib_1618 -> Chat: then a bottom above bottom structure in an oscillator like this one would actually make a whole lot of sense to support such an all around accelerated advancing sequence
2013-11-14 16:49:39 [Message] fib_1618 -> Chat: as it would support the dynamics of such an event
2013-11-14 16:49:54 [Message] fib_1618 -> Chat: just talking out loud here
2013-11-14 16:50:15 [Message] fib_1618 -> Chat: but first we have to make a new high, don't we?
2013-11-14 16:50:23 [Message] fib_1618 -> Chat: and that isn't going to be easy
2013-11-14 16:50:35 [Message] fib_1618 -> Chat: but it's something to digest nonetheless
2013-11-14 16:50:56 [Message] fib_1618 -> Chat: now here's an interesting situation
2013-11-14 16:51:10 [Message] fib_1618 -> Chat: where all other breadth MCO's continued higher today
2013-11-14 16:51:15 [Message] fib_1618 -> Chat: the SML breadth MCO did not
2013-11-14 16:51:26 [Message] fib_1618 -> Chat: as it was down 8 points
2013-11-14 16:51:29 [Message] fib_1618 -> Chat: but...
2013-11-14 16:51:41 [Message] fib_1618 -> Chat: it also satisfied a simple snapback to its zero line as well
2013-11-14 16:52:16 [Message] fib_1618 -> Chat: so something like this could be in preparation of the broader market making a move of its own
2013-11-14 16:52:29 [Message] fib_1618 -> Chat: we'll probably know by Monday
2013-11-14 16:52:49 [Message] fib_1618 -> Chat: looking at the SML breadth MCSUM then
2013-11-14 16:53:03 [Message] fib_1618 -> Chat: and we have the look of a "ledge" formation at work
2013-11-14 16:55:07 [Message] fib_1618 -> Chat: but that can be righted very quickly with a zero line bounce in the MCO
2013-11-14 16:55:30 [Message] fib_1618 -> Chat: and the TM breadth MCO has now fulfilled its obligatory snapback to its zero line
2013-11-14 16:55:46 [Message] fib_1618 -> Chat: and like the NYSE Composite
2013-11-14 16:56:01 [Message] fib_1618 -> Chat: although the components here are positive
2013-11-14 16:56:06 [Message] fib_1618 -> Chat: they remain on a crossover sell
2013-11-14 16:56:09 [Message] fib_1618 -> Chat: so...
2013-11-14 16:56:33 [Message] fib_1618 -> Chat: day by day...inch by inch...the bulls are finding more takers after yesterday's stand
2013-11-14 16:57:24 [Message] fib_1618 -> Chat: with any further strength then opening the door wide to meet the upside price targets that were generated back with the mid September highs in the MCO's
2013-11-14 16:57:33 [Message] fib_1618 -> Chat: looking at the volume McClellan's
2013-11-14 16:58:12 [Message] fib_1618 -> Chat: and we see that the NYSE CO volume MCO is now leading breadth to the upside
2013-11-14 16:58:22 [Message] fib_1618 -> Chat: as it breaks above pattern resistance
2013-11-14 16:58:43 [Message] fib_1618 -> Chat: this is now an indication that the bulls are putting more muscle in their conviction
2013-11-14 16:59:19 [Message] fib_1618 -> Chat: and leads us to believe that Wednesday's reversal point was a kick off our re-initiating the current uptrend
2013-11-14 16:59:45 [Message] fib_1618 -> Chat: notice here too of how the +500 level held NYSE CO volume MCSUM support
2013-11-14 16:59:57 [Message] fib_1618 -> Chat: and this should be viewed as a highly bullish event in and of itself
2013-11-14 17:00:26 [Message] fib_1618 -> Chat: the NYSE breadth MCSUM is also showing leadership to upside as well
2013-11-14 17:00:40 [Message] fib_1618 -> Chat: so although the breadth side is playing catch up here
2013-11-14 17:01:07 [Message] fib_1618 -> Chat: the amount of up volume moving into the exchange is firm enough now to see a challenge of the all time highs in the NYA
2013-11-14 17:01:26 [Message] fib_1618 -> Chat: and if we can take out the recent highs in the MCSUM
2013-11-14 17:01:49 [Message] fib_1618 -> Chat: then we should have enough momentum behind us to see the NYA join the other major market indices at new all time highs
2013-11-14 17:02:18 [Message] fib_1618 -> Chat: you just can't under-estimate the underlying power of this advance
2013-11-14 17:02:59 [Message] fib_1618 -> Chat: looks like the NASDAQ volume MCO snapped back to its old highs that were just overcome on Wednesday
2013-11-14 17:03:28 [Message] fib_1618 -> Chat: but until we see upside gap expansion in the NASDAQ volume MCSUM
2013-11-14 17:03:40 [Message] fib_1618 -> Chat: we have to be on guard of a possible ledge in progress near term
2013-11-14 17:04:10 [Message] fib_1618 -> Chat: on the flip side
2013-11-14 17:04:22 [Message] fib_1618 -> Chat: we did break above formidable resistance yesterday
2013-11-14 17:04:34 [Message] fib_1618 -> Chat: so a pause here wouldn't be too much out of character
2013-11-14 17:04:42 [Message] fib_1618 -> Chat: just a matter of "show me" now
2013-11-14 17:05:11 [Message] fib_1618 -> Chat: and to show enough of a upside push to bring the MCSUM back to what was its previous "trading range"
2013-11-14 17:05:30 [Message] fib_1618 -> Chat: we also see we closed at 3972 today on the index
2013-11-14 17:05:42 [Message] fib_1618 -> Chat: so another 28 points to go to 4000
2013-11-14 17:06:00 [Message] fib_1618 -> Chat: where we might see some round number psychological resistance
2013-11-14 17:06:33 [Message] fib_1618 -> Chat: looks like a small snapback toward the zero line as well in the NDX volume MCO
2013-11-14 17:06:55 [Message] fib_1618 -> Chat: as we settled at just below the -25 level with a -19
2013-11-14 17:07:25 [Message] fib_1618 -> Chat: and MCSUM gap resistance directly above us at the +500 level on the NDX volume MCSUM
2013-11-14 17:07:28 [Message] fib_1618 -> Chat: keep in mind
2013-11-14 17:07:41 [Message] fib_1618 -> Chat: that during times in which we close these gap zones like this one
2013-11-14 17:08:19 [Message] fib_1618 -> Chat: they usually are accompanied by a robust day in the indices themselves as this imbalance is filled
2013-11-14 17:08:45 [Message] fib_1618 -> Chat: small point change in the SPX volume MCO
2013-11-14 17:09:01 [Message] fib_1618 -> Chat: as the SPX volume MCSUM  is beginning to pull away to the upside
2013-11-14 17:09:31 [Message] fib_1618 -> Chat: all that's needed here is pretty much the standard fare of tonight's chat
2013-11-14 17:09:50 [Message] fib_1618 -> Chat: if we break above the reaction highs seen in late October
2013-11-14 17:10:07 [Message] fib_1618 -> Chat: then we should see an acceleration in prices on a day to day basis
2013-11-14 17:10:17 [Message] fib_1618 -> Chat: sort of like the last two days
2013-11-14 17:11:23 [Message] fib_1618 -> Chat: small point change as well in the OEX volume MCO
2013-11-14 17:11:38 [Message] fib_1618 -> Chat: so we have some tension on the tape again...especially in the large caps
2013-11-14 17:11:46 [Message] fib_1618 -> Chat: could be OPEX related
2013-11-14 17:11:49 [Message] fib_1618 -> Chat: in fact
2013-11-14 17:11:51 [Message] fib_1618 -> Chat: it probably is
2013-11-14 17:12:26 [Message] fib_1618 -> Chat: a bit of divergence between the Dow volume MCO (moving lower) and the Dow breadth MCO (moving higher)
2013-11-14 17:12:36 [Message] fib_1618 -> Chat: again...could be option related
2013-11-14 17:12:59 [Message] fib_1618 -> Chat: but you can see in the MCO structure itself
2013-11-14 17:13:21 [Message] fib_1618 -> Chat: that the oscillator itself is continuing to contract over time
2013-11-14 17:13:32 [Message] fib_1618 -> Chat: so we're building some compression here
2013-11-14 17:13:42 [Message] fib_1618 -> Chat: and this should be released by Tuesday of next week
2013-11-14 17:13:59 [Message] fib_1618 -> Chat: oh...well..
2013-11-14 17:14:10 [Message] fib_1618 -> Chat: the MID volume MCO moved to new highs today
2013-11-14 17:14:15 [Message] fib_1618 -> Chat: and is leading breadth to the upside
2013-11-14 17:14:36 [Message] fib_1618 -> Chat: and as we talked about (I think) on Wednesday
2013-11-14 17:14:52 [Message] fib_1618 -> Chat: this higher high in the MCO was needed to break the MID volume MCSUM to new highs of its own
2013-11-14 17:15:02 [Message] fib_1618 -> Chat: working together to achieve a common goal
2013-11-14 17:15:19 [Message] fib_1618 -> Chat: and with this higher high
2013-11-14 17:15:42 [Message] fib_1618 -> Chat: it's highly likely that the momentum of such a move will keep the MID volume MCSUM moving higher and above the +500 level
2013-11-14 17:15:48 [Message] fib_1618 -> Chat: so the MID is back to a buy
2013-11-14 17:16:11 [Message] fib_1618 -> Chat: the SML volume MCO is also showing strength
2013-11-14 17:16:20 [Message] fib_1618 -> Chat: and I just thought of this
2013-11-14 17:16:27 [Message] fib_1618 -> Chat: we didn't go over the volume on Wednesday
2013-11-14 17:16:36 [Message] fib_1618 -> Chat: so any comments in this area were made on Tuesday
2013-11-14 17:16:40 [Message] fib_1618 -> Chat: in any case
2013-11-14 17:16:59 [Message] fib_1618 -> Chat: we getting more and more confirmation that we're at the beginning of another advance here
2013-11-14 17:17:03 [Message] fib_1618 -> Chat: and this is not a fake out
2013-11-14 17:17:15 [Message] fib_1618 -> Chat: with the SML volume MCSUM
2013-11-14 17:17:36 [Message] fib_1618 -> Chat: any new high here above the October double tops would be highly bullish
2013-11-14 17:17:56 [Message] fib_1618 -> Chat: and would allow this indicator to move to the +1000 level
2013-11-14 17:18:15 [Message] fib_1618 -> Chat: now looks like that we're going to rally through Thanksgiving
2013-11-14 17:18:22 [Message] fib_1618 -> Chat: our only pause is with the NYSE Composite
2013-11-14 17:18:33 [Message] fib_1618 -> Chat: which isn't small potatoes when working with this methodology
2013-11-14 17:18:47 [Message] fib_1618 -> Chat: and to round things off
2013-11-14 17:18:59 [Message] fib_1618 -> Chat: the TM volume MCO is also leading its breadth cousin to the upside
2013-11-14 17:19:19 [Message] fib_1618 -> Chat: and we had a small point change to go with today's action
2013-11-14 17:19:23 [Message] fib_1618 -> Chat: so....
2013-11-14 17:19:34 [Message] fib_1618 -> Chat: tension on the tape is a bit compressed on the volume side
2013-11-14 17:19:49 [Message] fib_1618 -> Chat: but the weight of evidence right now is with the buyers
2013-11-14 17:20:14 [Message] fib_1618 -> Chat: meaning that there isn't enough selling to keep prices from being bid to even higher levels
2013-11-14 17:20:20 [Message] fib_1618 -> Chat: forget the fundamentals here
2013-11-14 17:20:41 [Message] fib_1618 -> Chat: all that counts is that money is moving in with enough velocity to where prices can increase in value
2013-11-14 17:20:55 [Message] fib_1618 -> Chat: the fundamentals will catch up later
2013-11-14 17:21:09 [Message] fib_1618 -> Chat: just like what we've been seeing with 3rd quarter earnings
2013-11-14 17:21:39 [Message] fib_1618 -> Chat: as they continue to confirm what the market's expectations were over the last couple of months and why the market rallied
2013-11-14 17:22:15 [Message] fib_1618 -> Chat: we'll call the CVI's minimally climactic here
2013-11-14 17:22:21 [Message] fib_1618 -> Chat: the STVO's as well
2013-11-14 17:22:47 [Message] fib_1618 -> Chat: with the VTO's now following the lead of the shorter term trends in this analytical trio of tools
2013-11-14 17:23:00 [Message] fib_1618 -> Chat: NYSE TRIN at .71
2013-11-14 17:23:09 [Message] fib_1618 -> Chat: Open 10 at .85
2013-11-14 17:23:24 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.06
2013-11-14 17:23:36 [Message] fib_1618 -> Chat: Open 10 at .91
2013-11-14 17:23:46 [Message] fib_1618 -> Chat: TM TRIN at 1.19
2013-11-14 17:23:59 [Message] fib_1618 -> Chat: Open 10 at .88
2013-11-14 17:24:11 [Message] fib_1618 -> Chat: so overall...neutral to a bit bearish
2013-11-14 17:24:25 [Message] fib_1618 -> Chat: an engine that seems to be purring here
2013-11-14 17:24:33 [Message] fib_1618 -> Chat: and not in any real danger of overheating
2013-11-14 17:24:35 [Message] fib_1618 -> Chat: so....
2013-11-14 17:24:52 [Message] fib_1618 -> Chat: as long as the buyers continue to support the market at these levels
2013-11-14 17:25:00 [Message] fib_1618 -> Chat: the path of least resistance remains to the upside
2013-11-14 17:25:17 [Message] fib_1618 -> Chat: let me check for a prelim on the BETS
2013-11-14 17:26:20 [Message] fib_1618 -> Chat: NYAD line found snapback support...this is bullish
2013-11-14 17:26:43 [Message] fib_1618 -> Chat: ready?
2013-11-14 17:26:49 [Message] fib_1618 -> Chat: remember we were at +20 on Tuesday?
2013-11-14 17:26:52 [Message] fib_1618 -> Chat: today is at +50
2013-11-14 17:27:04 [Message] thespookyone -> Chat: wow
2013-11-14 17:27:12 [Message] fib_1618 -> Chat: the reason that we're getting huge moves here over the last month or so in this indicator
2013-11-14 17:27:34 [Message] fib_1618 -> Chat: is that we have many of the cumulative charts within tight configurations in relation to their EMA's
2013-11-14 17:27:48 [Message] fib_1618 -> Chat: where a weak day can take us out of a bullish configuration
2013-11-14 17:27:59 [Message] fib_1618 -> Chat: but a strong one we're back to being bullish
2013-11-14 17:28:25 [Message] fib_1618 -> Chat: this is why a weekly review of this information is probably the best way to use this type of tool
2013-11-14 17:28:31 [Message] fib_1618 -> Chat: as we had a +35 last Friday
2013-11-14 17:28:42 [Message] fib_1618 -> Chat: which was a "hold with protective stops"
2013-11-14 17:28:50 [Message] fib_1618 -> Chat: it never got us to close our long positions
2013-11-14 17:28:55 [Message] fib_1618 -> Chat: and here we are again
2013-11-14 17:29:00 [Message] fib_1618 -> Chat: back to seeing strength coming in
2013-11-14 17:29:10 [Message] fib_1618 -> Chat: pretty typical of strong trends
2013-11-14 17:29:28 [Message] fib_1618 -> Chat: OK...anything else anyone want to go over before we have a week off?
2013-11-14 17:29:54 [Message] fib_1618 -> Chat: hopefully I was able to cover all the bases in the interim
2013-11-14 17:30:08 [Message] thespookyone -> Chat: enjoy your time off!
2013-11-14 17:30:13 [Message] fib_1618 -> Chat: I hope to
2013-11-14 17:30:22 [Message] fib_1618 -> Chat: it will probably be well too short
2013-11-14 17:30:27 [Message] tracca -> Chat: have a great vacation
2013-11-14 17:30:45 [Message] fib_1618 -> Chat: hopefully I'll be able to take a longer time off sometime next year [smile]
2013-11-14 17:30:48 [Message] fib_1618 -> Chat: thank you
2013-11-14 17:31:21 [Message] fib_1618 -> Chat: pretty exciting times here
2013-11-14 17:31:31 [Message] fib_1618 -> Chat: especially if we start to snowball
2013-11-14 17:31:40 [Message] fib_1618 -> Chat: as it "seems" we're doing right now
2013-11-14 17:31:46 [Message] fib_1618 -> Chat: hard to believe
2013-11-14 17:31:49 [Message] fib_1618 -> Chat: but it is what it is
2013-11-14 17:31:59 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-11-14 17:32:02 [Message] fib_1618 -> Chat: I'm going to take off
2013-11-14 17:32:11 [Message] fib_1618 -> Chat: everyone have a great week of trading and enjoying life
2013-11-14 17:32:23 [Message] fib_1618 -> Chat: and we'll do this all again on Monday, November 25th
2013-11-14 17:32:25 [Message] fib_1618 -> Chat: good night

Dave's LinkedIn Profile

Technical Watch Twitter Page

Technical Watch Facebook Page

"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

Previous Topic | Next Topic

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Copyright 2000-2019 Technical Watch