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fib_1618

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Posts: 4,492
Reply with quote  #1 
2015-11-24 16:00:25 fib1618: good day
2015-11-24 16:00:28 fib1618: how is everyone?
2015-11-24 16:02:32 thespookyone: Great, you?
2015-11-24 16:02:34 fib1618: OK...any questions or comments before we get started??
2015-11-24 16:02:39 fib1618: doing fine...tired
2015-11-24 16:02:46 thespookyone: ditto
2015-11-24 16:02:54 fib1618: tough getting old
2015-11-24 16:03:09 fib1618: your mind says "go go go"
2015-11-24 16:03:14 rite01: Naps work for me
2015-11-24 16:03:17 fib1618: you body says "whoa whoa whoa"
2015-11-24 16:03:45 fib1618: I get scared sometimes on how quickly I can nod off
2015-11-24 16:03:50 rite01: and a rhyme to boot
2015-11-24 16:04:09 fib1618: I can be fast forwarding a DVR through a commercial and fall asleep right in the middle of doing it!
2015-11-24 16:04:19 rite01: Vitamins?
2015-11-24 16:04:32 fib1618: my brain just shuts down
2015-11-24 16:04:41 fib1618: I eat food...what do I need vitamins for?
2015-11-24 16:04:52 rite01: 8 hours a day as a rule for sleep
2015-11-24 16:04:53 fib1618: I don't like pills
2015-11-24 16:04:58 fib1618: I try
2015-11-24 16:05:11 fib1618: my day though starts early...I'm up at 3:30 each morning
2015-11-24 16:05:21 rite01: wow no wonder
2015-11-24 16:05:24 fib1618: so by the time 7:00 rolls around...I'm done
2015-11-24 16:05:43 fib1618: one of the disadvantages living on the Pacific coast
2015-11-24 16:05:55 fib1618: I still have to work on east coast time
2015-11-24 16:06:08 fib1618: my breakfast is lunch for many others
2015-11-24 16:06:55 fib1618: don't even know when I'll have another vacation again
2015-11-24 16:07:00 rite01: That's the main reason Gary Smith never moved to CA which would have been his first choice to live
2015-11-24 16:07:02 fib1618: maybe in another year
2015-11-24 16:07:13 fib1618: you know Gary?
2015-11-24 16:07:15 thespookyone: Fun to trade from Scotland, starts at 2:30 in the afternoon [smile]
2015-11-24 16:07:25 fib1618: [smile]
2015-11-24 16:07:31 rite01: yes I know him
2015-11-24 16:07:40 fib1618: Gary lived in Reno for a while
2015-11-24 16:07:45 rite01: I know that
2015-11-24 16:07:53 fib1618: so that's P coast [smile]
2015-11-24 16:08:25 rite01: He moved back couldn't get used to the time
2015-11-24 16:08:51 fib1618: [smile]
2015-11-24 16:09:15 fib1618: OK...let's get cracking so that maybe we can adjourn early for the holidays
2015-11-24 16:09:54 fib1618: after moving lower in the morning
2015-11-24 16:10:08 fib1618: the NYA reversed hard intraday
2015-11-24 16:10:27 fib1618: and closed above Friday's settlement
2015-11-24 16:10:42 fib1618: the NYSE CO breadth MCO also moved higher on this reversal
2015-11-24 16:10:57 fib1618: to help in supporting this rebound
2015-11-24 16:11:11 fib1618: and settled today with a +22 reading
2015-11-24 16:11:37 fib1618: this helped the NYSE CO breadth MCSUM to gap to the upside today
2015-11-24 16:12:03 fib1618: breaking the ledge pattern that we pointed to on Monday
2015-11-24 16:13:02 fib1618: so it would seem that the buyers stepped in when they needed to
2015-11-24 16:13:10 fib1618: and have taken control of the action
2015-11-24 16:13:29 fib1618: just need to see confirmation with the Composite
2015-11-24 16:13:32 fib1618: and looking there
2015-11-24 16:13:36 thespookyone: Tough market to try and short, which I haven't been doing that
2015-11-24 16:14:02 rite01: outside range day to boot
2015-11-24 16:14:11 fib1618: we see that we also moved higher on the NYSE breadth MCO
2015-11-24 16:14:23 fib1618: been tough for the last two weeks
2015-11-24 16:14:46 rite01: tough long or short for me
2015-11-24 16:14:54 fib1618: seems that the bulls are being supported by every mention of another terrorist raid in Europe
2015-11-24 16:15:12 fib1618: happened again today
2015-11-24 16:15:34 fib1618: to be honest
2015-11-24 16:15:48 fib1618: I'm really looking forward to taking a break from looking at the charts
2015-11-24 16:16:00 fib1618: and hoping that I'll have new eye next week
2015-11-24 16:16:29 fib1618: in any event
2015-11-24 16:16:33 rite01: I agree
2015-11-24 16:16:59 fib1618: there sure hasn't been anything showing strength here in the MCO of late
2015-11-24 16:17:16 fib1618: even today
2015-11-24 16:17:22 rite01: high highs and lower lows
2015-11-24 16:17:41 fib1618: higher highs...and higher lows
2015-11-24 16:17:48 rite01: recently
2015-11-24 16:17:51 fib1618: but the whole thing is funky
2015-11-24 16:17:56 rite01: right sorry
2015-11-24 16:18:27 fib1618: taking ruler to monitor though
2015-11-24 16:18:46 fib1618: and we broke above the declining tops lines in the NYSE CO and Composite MCO's today
2015-11-24 16:18:52 fib1618: and that needs to be respected
2015-11-24 16:19:31 fib1618: the NASDAQ breadth MCO also continues to move north
2015-11-24 16:19:42 fib1618: now at a +21
2015-11-24 16:20:02 fib1618: the NYSE CO MCO is at a +22
2015-11-24 16:20:26 fib1618: and the NASDAQ Composite is at a +12
2015-11-24 16:20:35 fib1618: so nothing really going on here
2015-11-24 16:20:48 fib1618: not until we get above +25
2015-11-24 16:21:16 fib1618: the NDX breadth MCO had another small point change today
2015-11-24 16:21:27 fib1618: standing at a -14
2015-11-24 16:21:37 fib1618: so no confirmation there with the NASDAQ
2015-11-24 16:22:06 fib1618: small point change on the SPX breadth MCO
2015-11-24 16:22:14 fib1618: with a -1 reading
2015-11-24 16:22:32 fib1618: seems like we sold off in the morning
2015-11-24 16:22:40 fib1618: and when there were no one else selling
2015-11-24 16:22:50 fib1618: we just bounced back to the starting point
2015-11-24 16:23:11 fib1618: small point change on the OEX breadth MCO with a -21
2015-11-24 16:23:27 fib1618: just no consistency here
2015-11-24 16:23:49 fib1618: how about a triangle on the daily?
2015-11-24 16:24:12 fib1618: small point change on the Dow breadth MCO
2015-11-24 16:24:19 fib1618: with a -21 reading
2015-11-24 16:24:37 fib1618: but then we get to the MID breadth MCO
2015-11-24 16:24:44 fib1618: and we had a power move to the upside today
2015-11-24 16:25:20 fib1618: and we've just about closed our MCSUM gap resistance area as well
2015-11-24 16:25:42 fib1618: same with the SML breadth MCO and MCSUM
2015-11-24 16:25:56 fib1618: in fact
2015-11-24 16:26:02 fib1618: the SML is now stronger than the MID
2015-11-24 16:26:12 fib1618: this is all very peculiar
2015-11-24 16:26:27 rite01: so the gap resistance area is the first big down move in MCSUM?
2015-11-24 16:26:42 fib1618: as peculiar as the Investment Grade bonds being weaker than the Junk Bond A/D line
2015-11-24 16:27:03 fib1618: gap resistance is the point of extreme measured by the MCO
2015-11-24 16:27:06 fib1618: either up or down
2015-11-24 16:27:16 fib1618: it is the point of capitulation by the majority
2015-11-24 16:27:31 fib1618: this gap then provides resistance or support
2015-11-24 16:27:35 fib1618: and until it's taken out
2015-11-24 16:27:51 fib1618: the point of this same capitulation remains in control
2015-11-24 16:27:59 fib1618: so now that these gaps are being closed
2015-11-24 16:28:32 fib1618: it tells us that lows of a week or so ago are likely to hold
2015-11-24 16:28:47 fib1618: and a change in direction is probable
2015-11-24 16:28:50 fib1618: problem is
2015-11-24 16:29:07 fib1618: this is primarily going on in the MID and SML
2015-11-24 16:29:13 fib1618: not in the large caps
2015-11-24 16:29:17 fib1618: nor in the secondaries
2015-11-24 16:29:25 fib1618: it's very peculiar
2015-11-24 16:30:07 fib1618: and the TM breadth MCO also climbed higher today
2015-11-24 16:30:11 fib1618: and rests at a +16
2015-11-24 16:30:57 fib1618: and this is keeping zero line support in the TM breadth MCSUM
2015-11-24 16:31:02 fib1618: so...
2015-11-24 16:31:35 fib1618: it would appear that the MID and SML baskets are receiving investment dollars right now
2015-11-24 16:31:59 fib1618: and this is usually a good sign that an advancing price sequence is in its infancy
2015-11-24 16:32:23 fib1618: with the great many other breadth MCSUM's finding zero line support
2015-11-24 16:32:42 fib1618: this would also suggest that the path of least resistance has now changed back from down to that of being up
2015-11-24 16:32:55 fib1618: the large reversal price bars also suggest this
2015-11-24 16:33:21 fib1618: especially since we had quite a bit of evidence that we would close lower today....and didn't
2015-11-24 16:33:32 fib1618: and this needs to be respected for what it may suggest
2015-11-24 16:33:41 fib1618: on the flip side
2015-11-24 16:33:46 fib1618: it is a holiday week
2015-11-24 16:34:21 fib1618: so let's again look at the volume McClellan's and see if they improved today with the reversal
2015-11-24 16:34:51 rite01: aren't the two days before a holiday usually up?
2015-11-24 16:35:04 fib1618: and we did get pushes higher above both zero lines in the NYSE CO and Composite volume MCO's
2015-11-24 16:35:14 fib1618: there are seasonality factors
2015-11-24 16:35:19 rite01: seasonal trade?
2015-11-24 16:35:23 fib1618: but usually it's the day before the holiday
2015-11-24 16:35:28 fib1618: and two day's after
2015-11-24 16:35:34 rite01: right, thanks
2015-11-24 16:35:38 fib1618: we also have end of month allocation in play here
2015-11-24 16:35:43 fib1618: since the 30th falls on Monday
2015-11-24 16:36:03 fib1618: so if you're a fund manager
2015-11-24 16:36:17 fib1618: and you're taking Wednesday off to go somewhere
2015-11-24 16:36:24 fib1618: and you're not coming back until Monday
2015-11-24 16:36:37 fib1618: maybe what we're seeing here is this allocation process
2015-11-24 16:36:41 fib1618: problem is
2015-11-24 16:37:02 fib1618: we just can't ignore the upside breaks in the MCO's today "just because"
2015-11-24 16:37:06 fib1618: it is what it is
2015-11-24 16:37:19 fib1618: let's continue with the volume data
2015-11-24 16:37:42 fib1618: like it's breadth cousins
2015-11-24 16:37:50 fib1618: the NASDAQ volume MCO continued higher
2015-11-24 16:38:01 fib1618: but the NDX volume MCO moved lower today
2015-11-24 16:38:06 fib1618: what do we believe here?
2015-11-24 16:38:46 fib1618: the SPX volume MCO only snapped back to its zero line today
2015-11-24 16:38:55 thespookyone: I think it's rotation toward risk
2015-11-24 16:39:05 fib1618: remaining below last week's high point
2015-11-24 16:39:08 fib1618: could be
2015-11-24 16:39:12 fib1618: but if that's the case
2015-11-24 16:39:31 fib1618: it would only do so if the cost of money was going to continue to be low
2015-11-24 16:39:39 fib1618: at least in theory
2015-11-24 16:39:44 thespookyone: true
2015-11-24 16:39:45 fib1618: and if so
2015-11-24 16:40:06 fib1618: why aren't we seeing movement in the NDX?
2015-11-24 16:40:21 fib1618: is the NDX basket of issues now considered "value oriented"?
2015-11-24 16:40:28 thespookyone: not sure, but I've seen some very large call buying in bonds
2015-11-24 16:40:46 fib1618: that's interesting
2015-11-24 16:40:55 fib1618: because GDP was adjusted higher this morning
2015-11-24 16:41:02 fib1618: and if the economy is expanding
2015-11-24 16:41:08 fib1618: rates are likely to move higher to offset inflationary expectations
2015-11-24 16:41:09 thespookyone: and, that hit me as odd with an interest rate raise pending..
2015-11-24 16:41:16 fib1618: which means bonds should move lower
2015-11-24 16:41:24 rite01: I don't think they will raise
2015-11-24 16:41:25 thespookyone: yep
2015-11-24 16:41:30 fib1618: the whole thing is peculiar
2015-11-24 16:41:39 fib1618: at this point
2015-11-24 16:41:46 fib1618: I don't think it matters anymore
2015-11-24 16:41:49 thespookyone: it is, but when I see large money, it gets me thinking
2015-11-24 16:41:50 fib1618: raise
2015-11-24 16:41:51 fib1618: lower
2015-11-24 16:41:55 fib1618: just do something
2015-11-24 16:42:13 fib1618: kinda lost myself
2015-11-24 16:42:22 fib1618: and I haven't been lost in a long time
2015-11-24 16:42:36 thespookyone: well, the rest of the world is lowering, no?
2015-11-24 16:42:46 fib1618: I don't know
2015-11-24 16:42:51 fib1618: but if you need other countries to support your debt
2015-11-24 16:43:06 rite01: Dave as good a time as any to take some time off
2015-11-24 16:43:16 fib1618: you make your product more competitive
2015-11-24 16:43:24 fib1618: that's true Mike
2015-11-24 16:43:35 fib1618: I would just like to see some consistency here
2015-11-24 16:43:42 fib1618: I get the feeling that the market is lost
2015-11-24 16:43:42 thespookyone: yes, but maybe our market is now our product, not our bonds
2015-11-24 16:43:51 thespookyone: our
2015-11-24 16:44:06 fib1618: if the Fed raises rates
2015-11-24 16:44:14 fib1618: the Dollar becomes stronger
2015-11-24 16:44:35 fib1618: a stronger dollar is not attractive to foreign investment
2015-11-24 16:44:43 thespookyone: true
2015-11-24 16:44:44 fib1618: this is why the DAX A/D line moved to new highs last week
2015-11-24 16:44:56 fib1618: in the face of French massacres just to its west
2015-11-24 16:45:07 fib1618: the DAX MCSUM is at +900
2015-11-24 16:45:14 thespookyone: Wow
2015-11-24 16:45:25 fib1618: but the FTSE is close to the zero line
2015-11-24 16:45:37 fib1618: the CAC right in between
2015-11-24 16:46:01 fib1618: maybe the market is broken [smile]
2015-11-24 16:46:09 thespookyone: well, that's about what we've had, the Dow and SPX flying, the Naz not so much
2015-11-24 16:46:29 thespookyone: the FTSE is the Naz, no?
2015-11-24 16:46:31 fib1618: the OEX volume is still at -16
2015-11-24 16:46:42 fib1618: the FTSE is value - closer to the NYSE
2015-11-24 16:46:48 thespookyone: oh
2015-11-24 16:46:52 fib1618: the DAX is growth...closer to the NASDAQ
2015-11-24 16:46:58 thespookyone: ah!
2015-11-24 16:47:08 fib1618: remember back in 1928
2015-11-24 16:47:10 thespookyone: I knew each was one or the other
2015-11-24 16:47:12 fib1618: the FTSE topped first
2015-11-24 16:47:15 fib1618: than the Dow in '29
2015-11-24 16:47:26 thespookyone: right
2015-11-24 16:47:57 fib1618: the Dow volume MCO is back to its zero line now
2015-11-24 16:48:04 fib1618: with a -7 reading
2015-11-24 16:48:09 fib1618: so volume isn't there
2015-11-24 16:48:21 fib1618: but it's there with the MID!
2015-11-24 16:48:37 fib1618: and with the SML
2015-11-24 16:48:42 thespookyone: oh yea
2015-11-24 16:48:55 fib1618: maybe we have a "Sybil" market
2015-11-24 16:49:04 fib1618: one with many personalities
2015-11-24 16:49:09 fib1618: looking for something to work with
2015-11-24 16:49:31 fib1618: I wish I had more here
2015-11-24 16:49:38 fib1618: but you see what I'm seeing
2015-11-24 16:49:52 thespookyone: tough waters
2015-11-24 16:50:02 fib1618: the one thing we do know right now is that the MID and SML are firmly bullish
2015-11-24 16:50:21 fib1618: but the NDX, SPX, OEX and Dow are looking for help
2015-11-24 16:50:50 fib1618: but we're also seeing zero line support in the many of the MCSUM's
2015-11-24 16:50:56 fib1618: so...
2015-11-24 16:50:58 fib1618: I guess
2015-11-24 16:51:13 fib1618: you have to play the odds here
2015-11-24 16:51:34 fib1618: and take on a hit and run pattern of trading
2015-11-24 16:51:39 thespookyone: what of the MCO on the XLI, is that machine gun movement above the zero line bullish?
2015-11-24 16:51:40 fib1618: that wouldn't had helped today though
2015-11-24 16:51:54 fib1618: let's see how the sectors look..first breadth
2015-11-24 16:52:40 fib1618: the XLY breadth MCO is finding resistance at the +25 level
2015-11-24 16:53:03 fib1618: and indications here is that of a double top in prices
2015-11-24 16:53:07 fib1618: let me check the volume
2015-11-24 16:53:36 fib1618: with decreasing volume into this recent high
2015-11-24 16:53:39 fib1618: that's not a good thing
2015-11-24 16:54:20 fib1618: no divergence though...at least in the classic sense
2015-11-24 16:54:54 fib1618: zero line resistance holding in the XLP breadth MCO
2015-11-24 16:55:14 fib1618: as the XLP breadth MCSUM continues to sag lower
2015-11-24 16:56:05 fib1618: the XLE breadth MCO broke above its zero line today
2015-11-24 16:56:33 fib1618: but the XLE components remain corrective
2015-11-24 16:57:07 fib1618: looks like a completed fishhook structure in the XLF breadth MCSUM
2015-11-24 16:57:26 fib1618: you know
2015-11-24 16:57:39 fib1618: it's like the market wants to find a way to move higher
2015-11-24 16:58:02 fib1618: but it's not getting the necessary "nourishment" to do so
2015-11-24 16:58:40 fib1618: the XLV price structure looks to be stuck in a triangle
2015-11-24 16:59:01 fib1618: though the XLV breadth MCSUM has rebounded off the +500 level
2015-11-24 16:59:19 fib1618: what the heck?!?!
2015-11-24 16:59:30 fib1618: the XLI breadth MCO had a small point change today
2015-11-24 16:59:53 fib1618: but it's only at a +10?!?
2015-11-24 16:59:59 fib1618: where the beef?
2015-11-24 17:00:20 fib1618: bear divergence in place there
2015-11-24 17:00:41 fib1618: with a break below the MCO lows of last week the trigger
2015-11-24 17:01:30 fib1618: strong bounce higher off near the zero line today in the XLB breadth MCO
2015-11-24 17:02:05 fib1618: the XLK (tech) breadth MCSUM is breaking down
2015-11-24 17:02:22 fib1618: as it continues to try to hold support at the +750 level
2015-11-24 17:02:31 fib1618: that's part of the problem, of course
2015-11-24 17:02:50 fib1618: having many of the MCSUM's in positive territory, and in some cases, well above the +500 level
2015-11-24 17:03:02 fib1618: which makes if very difficult for prices to sag lower and stay there
2015-11-24 17:03:10 fib1618: (case in point...today's action)
2015-11-24 17:03:37 fib1618: and the XLU breadth MCO is just plain messy
2015-11-24 17:03:52 fib1618: with a poke toward the +50 level last week
2015-11-24 17:04:10 fib1618: and now we're back just as quickly below the zero line with a -26 reading
2015-11-24 17:04:37 fib1618: maybe sector volume will help...let's look
2015-11-24 17:05:10 fib1618: XLY and XLP are about identical to the breadth data
2015-11-24 17:05:37 fib1618: the XLE volume MCSUM is below the -500 level
2015-11-24 17:05:49 fib1618: so any upside follow through in prices near term is going to be hard to do
2015-11-24 17:06:24 fib1618: the XLF and XLV volume MCO's are negative
2015-11-24 17:06:52 fib1618: wow...
2015-11-24 17:07:00 fib1618: check out the XLI volume MCO
2015-11-24 17:07:13 fib1618: talk about complexity
2015-11-24 17:07:35 fib1618: and the result is a very high XLI volume MCSUM which is supporting firming prices we see now in the Dow
2015-11-24 17:07:36 thespookyone: but above zero, isn't that bullish?
2015-11-24 17:07:39 fib1618: it is
2015-11-24 17:07:48 thespookyone: like it's coiling
2015-11-24 17:07:54 fib1618: but it's within a range between +50 and zero
2015-11-24 17:08:09 fib1618: it's showing a buy side bias
2015-11-24 17:08:22 fib1618: but it's inconsistent
2015-11-24 17:08:27 fib1618: there's no texture
2015-11-24 17:08:30 fib1618: one day up
2015-11-24 17:08:32 fib1618: one day down
2015-11-24 17:08:43 fib1618: but the total trending imbalance is with the buyers
2015-11-24 17:09:08 fib1618: it's also been above the zero line for the most part for 2 months now
2015-11-24 17:09:26 fib1618: and with the MCSUM just above the +1000 level
2015-11-24 17:09:38 fib1618: it's going to be difficult for this to continue
2015-11-24 17:09:48 fib1618: it's due for a hard reversal back below the zero line
2015-11-24 17:10:17 fib1618: not too often you see this kind of pattern...for this long a time
2015-11-24 17:10:51 fib1618: there was a pop above the zero line today in the XLB volume MCO
2015-11-24 17:10:54 fib1618: so far then
2015-11-24 17:11:03 fib1618: the strength today was in the materials sector
2015-11-24 17:11:08 fib1618: and a bit in the energy sector
2015-11-24 17:11:42 fib1618: the XLK volume MCO is back to below its zero line
2015-11-24 17:12:14 fib1618: with the XLK volume MCSUM finding resistance at the +500 level
2015-11-24 17:12:50 fib1618: and the volume XLU MCO and MCSUM's are pretty much inline with breadth right now
2015-11-24 17:13:19 fib1618: but that's not saying much considering the choppiness in prices in spite of the underlying buyer strength
2015-11-24 17:13:37 fib1618: kind of feels like something is holding the market up here
2015-11-24 17:13:55 fib1618: in any event
2015-11-24 17:14:18 fib1618: we have too many cross currents to work with
2015-11-24 17:14:23 fib1618: and that usually means trading range
2015-11-24 17:14:27 fib1618: chop
2015-11-24 17:14:45 fib1618: as both sides pull and push back and forth
2015-11-24 17:14:55 fib1618: looking at the OBV's
2015-11-24 17:15:33 fib1618: we'll call the CVI's neutral
2015-11-24 17:15:46 fib1618: the STVO's moved deeper into "overbought" territory
2015-11-24 17:15:54 fib1618: and the VTO's just look lethargic
2015-11-24 17:16:21 fib1618: continuing to the sectors
2015-11-24 17:16:39 fib1618: and we see the following STVO's are now "overbought"
2015-11-24 17:16:56 fib1618: XLY
2015-11-24 17:17:06 fib1618: XLP
2015-11-24 17:17:19 fib1618: XLF
2015-11-24 17:17:28 fib1618: XLV
2015-11-24 17:17:36 fib1618: XLI
2015-11-24 17:17:48 fib1618: XLB
2015-11-24 17:18:06 fib1618: XLK (close enough)
2015-11-24 17:18:13 fib1618: and XLU
2015-11-24 17:18:32 fib1618: so the ONLY sector that's not "overbought" in the STVO is the XLE
2015-11-24 17:18:37 fib1618: and it's at zero
2015-11-24 17:18:53 fib1618: hard to go long on that
2015-11-24 17:19:14 fib1618: NYSE TRIN at .76
2015-11-24 17:19:25 fib1618: Open 10 at 1.08
2015-11-24 17:19:36 fib1618: NASDAQ TRIN at 1.04
2015-11-24 17:19:45 fib1618: Open 10 at .94
2015-11-24 17:19:56 fib1618: TM TRIN at .96
2015-11-24 17:20:14 fib1618: Open 10 at .99
2015-11-24 17:20:44 fib1618: so, on one hand, there's enough room here for some sort of hard down
2015-11-24 17:21:07 fib1618: but on the other the intermediate term trend remains buoyant
2015-11-24 17:21:18 fib1618: tough market to trade...so it's more of a stock pickers situation
2015-11-24 17:21:25 fib1618: let's look at the BETS
2015-11-24 17:21:54 fib1618: good upside action in the AMEX (ARCA) charts
2015-11-24 17:22:38 fib1618: the NYAD line looks constructive as it moves to higher highs
2015-11-24 17:22:59 fib1618: -45 and improving
2015-11-24 17:23:17 fib1618: "hold shorts with a bearish bias"
2015-11-24 17:23:27 fib1618: so...
2015-11-24 17:23:46 fib1618: the best solution to all this is pretty much what we covered yesterday
2015-11-24 17:24:12 fib1618: by remaining bearish against last week's intraday highs
2015-11-24 17:24:17 fib1618: and if they're taken out
2015-11-24 17:24:27 fib1618: then we'll have to re-examine our options
2015-11-24 17:24:37 fib1618: on the positive side
2015-11-24 17:24:50 fib1618: the MID and SML say "everything's OK"
2015-11-24 17:25:04 fib1618: while the rest of the market is "looking for help"
2015-11-24 17:25:25 fib1618: whatever is bothering traders though
2015-11-24 17:25:33 fib1618: we probably won't know until next week now
2015-11-24 17:25:35 fib1618: then again
2015-11-24 17:25:53 fib1618: light volume days can have exciting moves as well
2015-11-24 17:26:11 fib1618: so, for now, I'm happy on the sidelines
2015-11-24 17:26:36 fib1618: and patiently wait for better odds to work with
2015-11-24 17:26:48 fib1618: anything else?
2015-11-24 17:26:53 rite01: Where can you find the public/specialist short selling statistics?
2015-11-24 17:27:16 fib1618: I don't think that they're being kept anymore
2015-11-24 17:27:26 rite01: Gary Smith's favorite one of
2015-11-24 17:27:35 fib1618: I seem to remember that the NYSE stopped reporting this about 3 or 4 years ago
2015-11-24 17:27:51 rite01: No wonder I couldn't find it
2015-11-24 17:27:54 fib1618: something lost because of technology
2015-11-24 17:27:56 fib1618: actually
2015-11-24 17:28:07 fib1618: I think it was taken away once the NYSE merged with the AMEX
2015-11-24 17:28:31 fib1618: used to be a great indicator in the 1980's
2015-11-24 17:28:53 rite01: Not the 90's?
2015-11-24 17:29:22 fib1618: honestly...I didn't pay much attention to it in the 90's...was working with a whole different methodology
2015-11-24 17:29:46 rite01: 1 last question
2015-11-24 17:29:52 fib1618: shoot
2015-11-24 17:30:18 rite01: What would you use to follow Put/Call Volume
2015-11-24 17:30:44 fib1618: I would make up your own spreadsheet on that one
2015-11-24 17:30:58 fib1618: you can get the data from the CBOE
2015-11-24 17:31:01 fib1618: and plot it
2015-11-24 17:31:04 rite01: would you that would be Great!
2015-11-24 17:31:15 fib1618: not me
2015-11-24 17:31:21 fib1618: YOU [smile]
2015-11-24 17:31:39 rite01: oh sorry read it wrong
2015-11-24 17:31:41 fib1618: maybe Lew can help on that one
2015-11-24 17:31:51 thespookyone: OEX PC ratio is pretty fair for watching
2015-11-24 17:32:07 fib1618: he's looking for volume only (right?)
2015-11-24 17:32:20 rite01: do you have a URL?
2015-11-24 17:32:26 rite01: Right, volume only
2015-11-24 17:32:43 fib1618: I can give two suggestions
2015-11-24 17:32:52 fib1618: either directly from the CBOE or Yahoo
2015-11-24 17:33:11 thespookyone: CBOE is fine
2015-11-24 17:33:20 rite01: OK thanks...
2015-11-24 17:33:30 fib1618: I have no idea what they share anymore
2015-11-24 17:33:36 fib1618: so you would have to do some work on it
2015-11-24 17:34:00 fib1618: you do have access though to P/C ratios here at SC
2015-11-24 17:34:15 fib1618: chart series DPMI 1130
2015-11-24 17:34:26 rite01: Not sure I'll have to ask I'm on level 2 at SC
2015-11-24 17:34:44 fib1618: if you have the MCO's
2015-11-24 17:34:49 fib1618: you should have this too
2015-11-24 17:34:53 fib1618: check your list
2015-11-24 17:35:02 fib1618: OK...anything else?
2015-11-24 17:35:15 fib1618: I want to wish everyone a great Thanksgiving and to thank you all of for your ongoing patronage to Technical Watch!!
2015-11-24 17:35:27 fib1618: and after you're thankful for all the things you have on Thursday
2015-11-24 17:35:42 fib1618: I want you all to go right out on Friday and buy more stuff!! [smile]
2015-11-24 17:36:01 fib1618: BTW
2015-11-24 17:36:12 fib1618: Amazon has had Black Friday sales now for the last 2 weeks
2015-11-24 17:36:40 rite01: next week don't we have a off day for the chats
2015-11-24 17:36:45 fib1618: as it moved to new all time highs yesterday
2015-11-24 17:36:50 fib1618: nope
2015-11-24 17:36:55 fib1618: Tuesday and Thursday
2015-11-24 17:37:16 rite01: OK - well you warned us about Amazon for a while now
2015-11-24 17:37:17 fib1618: and I should have the December chat schedule up this weekend
2015-11-24 17:37:29 fib1618: OK...that's it for me
2015-11-24 17:37:35 fib1618: you all have a great weekend
2015-11-24 17:37:41 thespookyone: you too!
2015-11-24 17:37:44 fib1618: and we'll see how things are looking next Tuesday
2015-11-24 17:37:46 fib1618: good night
2015-11-24 17:38:18 rite01: good night Lew and all!


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