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Posts: 4,423
Reply with quote  #1 
2015-11-03 16:00:02 fib1618: good day
2015-11-03 16:00:05 fib1618: how is everyone?
2015-11-03 16:00:27 Miss D: good, how are you
2015-11-03 16:00:40 fib1618: doing fine Miss's been awhile!
2015-11-03 16:01:15 Miss D: yeah, I get here when I can
2015-11-03 16:01:42 fib1618: good thing we have transcripts then!
2015-11-03 16:01:48 Miss D: yep
2015-11-03 16:01:55 rite01: Agree
2015-11-03 16:02:44 fib1618: OK...any questions or comments before we get started??
2015-11-03 16:03:19 rite01: I've tightened up my stops
2015-11-03 16:03:34 fib1618: on your longs?
2015-11-03 16:03:41 rite01: you bet longs
2015-11-03 16:03:51 fib1618: that's the best way to play
2015-11-03 16:04:27 rite01: not sure why I did just a feeling
2015-11-03 16:06:33 fib1618: why? the trend is up
2015-11-03 16:06:49 fib1618: OK...enough chitchat
2015-11-03 16:06:53 fib1618: let's market chat!
2015-11-03 16:07:11 rite01: we are ready
2015-11-03 16:07:49 fib1618: after bouncing off the zero line on Monday and moving above last week's high point
2015-11-03 16:07:59 fib1618: the NYSE CO breadth MCO moved slightly higher again today
2015-11-03 16:08:05 fib1618: and generated a small point change
2015-11-03 16:08:49 fib1618: yesterday's higher MCO high has also now allowed prices to follow through on last weeks advance
2015-11-03 16:09:24 fib1618: and the NYA is now within 150 points of reaching its upside price objective given at the beginning of October by the MCO
2015-11-03 16:09:47 fib1618: also of importance
2015-11-03 16:10:20 fib1618: is that the CO MCO also broke above two different degrees of declining tops lines as well
2015-11-03 16:10:41 fib1618: with it holding above the +25 level today
2015-11-03 16:10:51 fib1618: a move to the +50 level is now probable
2015-11-03 16:11:07 fib1618: and with it
2015-11-03 16:11:14 fib1618: a challenge of the MCO highs of mid October
2015-11-03 16:11:31 fib1618: also of note is that the NYSE CO breadth MCSUM has now moved above the +250 level
2015-11-03 16:11:52 fib1618: and with any good follow through tomorrow
2015-11-03 16:12:23 fib1618: this should then be plenty of new momentum to where our next target would be the +500 level
2015-11-03 16:12:38 fib1618: so far then
2015-11-03 16:12:45 fib1618: we finally got our booster shot that we were looking for after last Wednesday
2015-11-03 16:13:18 fib1618: and now we wait and see how large the dose we'll be working with
2015-11-03 16:13:40 fib1618: moving to the NYSE Composite breadth MCO
2015-11-03 16:13:51 fib1618: and here we basically have the same pattern sequence as the CO MCO
2015-11-03 16:14:10 fib1618: except we had a divergent bottom above a bottom last week
2015-11-03 16:14:36 fib1618: and we continue to see leadership with the interest rate sensitive issues over the common stocks to the upside
2015-11-03 16:14:38 fib1618: also of note
2015-11-03 16:14:46 fib1618: and like the CO MCO
2015-11-03 16:15:08 fib1618: we have a small point change tonight in both the RA and Traditional breadth MCO's
2015-11-03 16:15:24 fib1618: so let's again expect a dramatic move in the major market averages in the next two trading sessions
2015-11-03 16:15:41 fib1618: one trigger, of course, may come with the ADP jobs data in the morning
2015-11-03 16:16:38 fib1618: but there's also PMI and ISM data as well
2015-11-03 16:17:02 fib1618: so maybe one of these reports will be the what the market will work off of
2015-11-03 16:17:20 fib1618: but as was touched upon last week
2015-11-03 16:18:02 fib1618: the Jobs data is probably going to be the market mover for any future course of interest rate hikes by the FED
2015-11-03 16:18:37 fib1618: consensus is 185,000
2015-11-03 16:18:52 fib1618: with a range of 140,000 to 230,000
2015-11-03 16:18:58 fib1618: but from what I'm seeing
2015-11-03 16:19:13 fib1618: and though it may not show up until Friday's numbers
2015-11-03 16:19:37 fib1618: but there doesn't seem to be a lot of holiday hiring going on right now
2015-11-03 16:19:44 fib1618: and because of this
2015-11-03 16:19:54 fib1618: the numbers are likely to be "lower than expected"
2015-11-03 16:20:01 fib1618: of course
2015-11-03 16:20:27 fib1618: that would jell with what the NYSE Bond and Preferred A/D lines are suggesting that we're going to continue to see lower rates
2015-11-03 16:20:37 fib1618: so we'll see how it all sorts out
2015-11-03 16:20:50 fib1618: in any event
2015-11-03 16:21:07 fib1618: any strength in positive plurality in the A/D line near term
2015-11-03 16:21:32 fib1618: is likely to push the NYSE Composite breadth MCSUM up and through the important +500 level
2015-11-03 16:21:34 fib1618: and with that
2015-11-03 16:21:50 fib1618: we'll see a full on challenge of the all time highs in many of the major market indices
2015-11-03 16:23:01 fib1618: moving to the NASDAQ Composite Index
2015-11-03 16:23:51 fib1618: and we see that we closed just 73 points from the all time highs today
2015-11-03 16:24:09 fib1618: looking at the NASDAQ breadth MCO
2015-11-03 16:24:18 fib1618: and we have confirmation of not only today's higher price highs
2015-11-03 16:24:35 fib1618: but we have also moved above 2 levels of prior resistance in the MCO itself
2015-11-03 16:25:08 fib1618: this now provides enough evidence that a new all time high is likely to be seen in the NASDAQ during this current price sequence
2015-11-03 16:25:53 fib1618: and depending how we challenge the NASDAQ breadth MCSUM's zero line in the next couple of days
2015-11-03 16:26:21 fib1618: will pretty much dictate is we'll be able to stay above the old highs seen in July or not
2015-11-03 16:26:53 fib1618: also of importance
2015-11-03 16:27:05 fib1618: is that the NASDAQ Composite is back into a bullish configuration
2015-11-03 16:27:23 fib1618: with the 20 day leading the 50 day which is leading the 200 day EMA to the upside
2015-11-03 16:27:33 fib1618: because of this
2015-11-03 16:27:46 fib1618: the path of least resistance remains with the buyers until PROVEN otherwise
2015-11-03 16:28:09 fib1618: also of note is the expanding volume of the last two days
2015-11-03 16:28:42 fib1618: showing that the bids below current market levels are strong
2015-11-03 16:29:39 rite01: expanding volume?
2015-11-03 16:29:48 fib1618: yes...on the daily
2015-11-03 16:29:57 fib1618: moving to the NDX
2015-11-03 16:30:39 fib1618: and I just confirmed it
2015-11-03 16:30:47 fib1618: we finally closed at new all time highs today
2015-11-03 16:30:57 fib1618: so after 15 years
2015-11-03 16:31:17 fib1618: there isn't a major market index in the US that hasn't moved to new all time highs now
2015-11-03 16:31:26 fib1618: the NDX was the last one
2015-11-03 16:31:31 fib1618: and no fanfare (so far)
2015-11-03 16:31:41 fib1618: checking the intraday highs
2015-11-03 16:32:11 fib1618: and that would be at 4816
2015-11-03 16:32:24 fib1618: so still 97 points to go there
2015-11-03 16:32:27 fib1618: can you imagine?
2015-11-03 16:32:38 fib1618: the all time closing high was 4704
2015-11-03 16:32:41 thespookyone: unreal
2015-11-03 16:32:54 fib1618: but the INTRADAY the high of that day was 4816!
2015-11-03 16:33:05 fib1618: talk about a blow off!
2015-11-03 16:34:18 fib1618: now looking at the NDX breadth MCO
2015-11-03 16:35:10 fib1618: and here we continue to see a textbook example of a complex bullish structure
2015-11-03 16:35:24 fib1618: one in which shows the power of the buyers over an extended period of time
2015-11-03 16:35:31 fib1618: when we see such patterns in the MCO
2015-11-03 16:36:17 fib1618: it tells us that the strength in money flow moving into this index is not likely to ease off for a longer than usual period of time
2015-11-03 16:36:39 fib1618: and with the current configuration we have
2015-11-03 16:36:58 fib1618: we're likely to see new all time closes in the NDX now as a matter of course
2015-11-03 16:37:09 fib1618: but on the flip side
2015-11-03 16:37:21 fib1618: we also know that things like this don't last forever
2015-11-03 16:37:37 fib1618: so a move to the NDX MCO zero line can be expected at anytime
2015-11-03 16:37:52 fib1618: as the booster engines suddenly shut down
2015-11-03 16:38:19 fib1618: trend wise
2015-11-03 16:38:37 fib1618: the 13 day ADX currently has a reading of 31
2015-11-03 16:38:56 fib1618: and we usually don't see trend exhaustion until this indicator moves above the 40 level
2015-11-03 16:39:08 fib1618: so although we could see a snapback to today's breakout levels
2015-11-03 16:39:17 rite01: thanks good to know
2015-11-03 16:39:31 fib1618: we should expect that this specific index will continue to see higher highs for much of the month of November
2015-11-03 16:40:16 fib1618: you can also see the tremendous strength of capital moving into this index by the amplitude of the NDX breadth MCSUM
2015-11-03 16:40:45 fib1618: with wide separation of the individual postings over the last month
2015-11-03 16:41:06 fib1618: so a scan of this group to see which sectors are leading
2015-11-03 16:41:21 fib1618: and then fine tuning it to the best of that particular group
2015-11-03 16:41:32 fib1618: should prove quite beneficial to our trading accounts
2015-11-03 16:42:03 fib1618: we see that the SPX breadth MCO also pulled back a bit today
2015-11-03 16:42:12 fib1618: but the bigger news since last we met is...
2015-11-03 16:42:27 fib1618: that SPX Advance/Decline line moved to new all time highs on Monday
2015-11-03 16:42:50 fib1618: so this, in and of itself, strongly suggests that new all time highs in prices are soon to be seen in this index
2015-11-03 16:43:32 fib1618: with the all time intraday highs on the SPX around 2132
2015-11-03 16:43:52 fib1618: so we're only 22 points away from matching that
2015-11-03 16:44:12 fib1618: and the way the market has been racking up large percentage moves of late
2015-11-03 16:44:17 fib1618: this can happen as soon as tomorrow
2015-11-03 16:44:22 fib1618: in any event
2015-11-03 16:44:47 fib1618: any further strength in the SPX breadth MCO above the +58 level
2015-11-03 16:45:09 fib1618: would be more than enough to continue the impulsive price structure to reach higher highs
2015-11-03 16:45:14 fib1618: also as a reminder
2015-11-03 16:45:22 fib1618: in spite of the August correction
2015-11-03 16:45:56 fib1618: we never did can a cancellation of the longer term 2250 price objective given by the McClellan Summation Index back in 2013
2015-11-03 16:46:23 fib1618: and we're now only 140 points from reaching that goal
2015-11-03 16:46:27 fib1618: so far
2015-11-03 16:46:55 fib1618: the market looks as though it's just looking for any kind of confirmation that the FED will not raise rates over the intermediate term
2015-11-03 16:47:05 fib1618: and once we get clarity on this
2015-11-03 16:47:22 fib1618: things could really move dramatically higher from here for the US market
2015-11-03 16:48:21 fib1618: as the hedge funds and institutions who have lost large sums of capital by being on the wrong side of this advance finally have to "throw in the towel" and cover their bearish allocations (and still they'll get paid millions of dollars for their "expertise")
2015-11-03 16:49:47 fib1618: believe it or not
2015-11-03 16:49:57 fib1618: the OEX is now 4 points away from its all time closing highs
2015-11-03 16:50:14 fib1618: and we have a small point change in the OEX breadth MCO
2015-11-03 16:50:37 fib1618: and here again
2015-11-03 16:51:13 fib1618: you can see a textbook example of what many look for in strongly trending the OEX "impulses" its way to higher highs
2015-11-03 16:51:46 fib1618: remember how negative sentiment was a month ago?
2015-11-03 16:51:52 fib1618: that we were going to crash?
2015-11-03 16:52:17 fib1618: just another great example of how sentiment extremes can help in giving clarity
2015-11-03 16:52:19 fib1618: oh...
2015-11-03 16:52:24 fib1618: and the high TRIN readings?
2015-11-03 16:52:32 rite01: yes in late September early Oct.
2015-11-03 16:52:58 fib1618: the kick off was Monday, October 5th
2015-11-03 16:53:16 fib1618: that weekend is was a gloomy as it was back at the 2009 lows
2015-11-03 16:53:32 fib1618: and we just exploded higher
2015-11-03 16:53:39 fib1618: it even caught us off guard
2015-11-03 16:53:56 fib1618: but we did finally get with the program on the 8th
2015-11-03 16:54:09 fib1618: and haven't looked back
2015-11-03 16:54:36 fib1618: though the road traveled has had its share of internal detours
2015-11-03 16:54:58 rite01: getting 80% of a major move is pretty good in my book
2015-11-03 16:55:17 fib1618: we're not greedy
2015-11-03 16:55:31 fib1618: it's not often you get in at the market turn anyway
2015-11-03 16:55:42 fib1618: the Dow is now 202 points from its all time highs
2015-11-03 16:55:59 fib1618: how did that happen? [smile]
2015-11-03 16:56:35 fib1618: we also saw higher price highs today after finally reaching our target objective of 17,750 yesterday
2015-11-03 16:56:53 fib1618: or was it 17,750?
2015-11-03 16:56:59 fib1618: no matter
2015-11-03 16:57:05 fib1618: objective met
2015-11-03 16:57:34 fib1618: we also moved to new highs today in the Dow breadth MCSUM
2015-11-03 16:57:48 fib1618: so the next stop there will be the +1250 level
2015-11-03 16:58:43 fib1618: the MID breadth MCO also moved above last week's high point on Monday
2015-11-03 16:58:55 fib1618: but remains just slightly below the mid October highs
2015-11-03 16:59:19 fib1618: still...yesterday's push by the buyers was enough to keep the MID breadth MCSUM climbing
2015-11-03 16:59:48 fib1618: and it's now less than 60 data points from reaching the important +500 level
2015-11-03 17:00:06 fib1618: but with yesterday's higher high
2015-11-03 17:00:23 fib1618: that should be enough now to reach the early October price target of 1500
2015-11-03 17:00:39 fib1618: this is the index to watch now
2015-11-03 17:00:54 fib1618: especially after last Wednesday's sharp breakout
2015-11-03 17:01:20 fib1618: as money may start to move from the large caps and into this area as a "undervalued" play
2015-11-03 17:01:30 rite01: is that a mid range close today?
2015-11-03 17:01:57 fib1618: it is
2015-11-03 17:02:21 fib1618: but I don't know if it will be a short term trend change indication or not with ADP in the morning
2015-11-03 17:02:25 fib1618: more of a hesitation is more probable
2015-11-03 17:02:45 rite01: so far it's been the only one
2015-11-03 17:02:45 fib1618: moving to the SML index
2015-11-03 17:02:58 fib1618: and we have now met its upside price target today
2015-11-03 17:03:11 fib1618: in the way of a "hesitation"?
2015-11-03 17:03:38 fib1618: or just a general observation?
2015-11-03 17:04:10 fib1618: you're right...last mid range close that I see was at the October lows
2015-11-03 17:04:28 fib1618: whoops...looking at the SML chart
2015-11-03 17:04:33 fib1618: let me check the MID
2015-11-03 17:04:53 fib1618: no...there's a mid range close in mid October
2015-11-03 17:04:59 fib1618: anyway
2015-11-03 17:05:05 fib1618: with momentum picking up
2015-11-03 17:05:18 fib1618: it wouldn't be consistent to see a down close on Wednesday
2015-11-03 17:05:32 fib1618: but we'll respect the price bar anyway for what it may suggest
2015-11-03 17:05:45 rite01: thanks
2015-11-03 17:05:59 fib1618: the SML breadth MCO also moved above last week's high point today
2015-11-03 17:06:14 fib1618: and the SML components remain bullish at this time
2015-11-03 17:06:26 fib1618: in fact
2015-11-03 17:06:36 fib1618: the MCO components are telling the tale here for the short term
2015-11-03 17:06:55 fib1618: as all remain very strong here
2015-11-03 17:07:05 fib1618: I'll check the A/D lines in a moment
2015-11-03 17:07:33 fib1618: and the Wilshire 5000 reached it's upside price target today
2015-11-03 17:08:04 fib1618: so almost all of the upside price targets given by the early October thrusts in the breadth MCO's have now been met
2015-11-03 17:08:22 fib1618: with an all out challenge of the summer highs still likely to take place before this is over
2015-11-03 17:08:47 fib1618: with a small point upside change in the TM breadth MCO indicating that we are currently compressed and about to move sharply in the next couple of days
2015-11-03 17:09:02 fib1618: so...
2015-11-03 17:09:17 fib1618: when things looked like we were going to need some backing and filling
2015-11-03 17:09:29 fib1618: the bulls pulled themselves up by their boot straps
2015-11-03 17:10:03 fib1618: and have now given the longs some additional upside strength to go with it
2015-11-03 17:10:13 fib1618: with new all time highs in the NDX
2015-11-03 17:10:34 fib1618: and with other major indices getting real close now in joining in the party
2015-11-03 17:11:10 fib1618: we'll continue to lean toward this path of least resistance and wring out all that we can in the process
2015-11-03 17:11:19 fib1618: let me look around for a moment
2015-11-03 17:11:33 fib1618: new all time highs in the XLY
2015-11-03 17:11:51 fib1618: fully confirmed by the internals
2015-11-03 17:12:13 fib1618: and as we usually see when this happens
2015-11-03 17:12:27 fib1618: the defensive stocks are being shun the XLP
2015-11-03 17:12:52 fib1618: KAPOW! the XLE broke out to the upside today
2015-11-03 17:13:21 fib1618: after it found zero line support on the XLE breadth MCSUM
2015-11-03 17:13:27 fib1618: long and strong there
2015-11-03 17:13:42 rite01: no double top here
2015-11-03 17:13:52 fib1618: saw something today questioning the strength in the energy complex now...brought a smile on my face
2015-11-03 17:13:57 fib1618: well...there was a double top
2015-11-03 17:13:59 fib1618: but remember
2015-11-03 17:14:17 fib1618: the downside from that tiny double top was only around $63
2015-11-03 17:14:20 fib1618: and we hit that
2015-11-03 17:14:24 fib1618: and reversed
2015-11-03 17:14:32 rite01: that's right, forgot
2015-11-03 17:15:16 fib1618: there is always a path that is traveled in this business
2015-11-03 17:15:24 fib1618: and as a technician
2015-11-03 17:15:35 fib1618: our job it to not only look for these side roads
2015-11-03 17:15:54 fib1618: but also to determine how important they are in the bigger pattern structure
2015-11-03 17:16:00 fib1618: so...we both got it right
2015-11-03 17:16:12 fib1618: you got your hesitation...a pause to refresh
2015-11-03 17:16:24 fib1618: but this was still part of the bigger pattern of seeing new recovery highs
2015-11-03 17:16:45 fib1618: right angle triangle on the XLF price chart
2015-11-03 17:16:55 fib1618: should break out to the upside by Thursday
2015-11-03 17:17:33 fib1618: new recovery highs on the XLK today
2015-11-03 17:18:13 fib1618: all time highs there is at $55
2015-11-03 17:18:16 fib1618: so a long way to go
2015-11-03 17:18:24 fib1618: and when comparing to the NASDAQ and NDX
2015-11-03 17:18:29 fib1618: is sorely undervalued
2015-11-03 17:19:41 fib1618: NDX A/D line now challenging its all time highs
2015-11-03 17:20:42 fib1618: SPX A/D line at all time highs
2015-11-03 17:20:57 fib1618: OEX A/D line at all time highs
2015-11-03 17:21:39 fib1618: and that's it...for now
2015-11-03 17:21:58 fib1618: what's interesting here
2015-11-03 17:22:00 fib1618: is that usually
2015-11-03 17:22:09 fib1618: if we were in the final phases in a bull move
2015-11-03 17:22:16 fib1618: the large caps will lead
2015-11-03 17:22:25 fib1618: while the rest of the market lags
2015-11-03 17:22:35 fib1618: and so far
2015-11-03 17:22:41 fib1618: that seems to be the case
2015-11-03 17:22:56 fib1618: but with the sectors joining in on the party
2015-11-03 17:23:08 fib1618: hard to say if this time it's different or not
2015-11-03 17:23:30 fib1618: XLY A/D line at all time highs
2015-11-03 17:24:11 fib1618: XLF A/D line challenging the all time highs
2015-11-03 17:24:44 fib1618: XLV A/D line challenging
2015-11-03 17:24:50 fib1618: and when I say "challenging"
2015-11-03 17:24:58 fib1618: it's within 2 trading days of seeing new highs
2015-11-03 17:25:39 fib1618: XLK A/D line at all time highs
2015-11-03 17:25:51 fib1618: XLP and XLU were at all time highs in October
2015-11-03 17:26:08 fib1618: anyway...
2015-11-03 17:26:18 fib1618: too much money to keep a good stock market down it would seem
2015-11-03 17:26:25 fib1618: let's see how volume is doing
2015-11-03 17:27:21 fib1618: both the NYSE CO and Composite volume MCO's have moved above to area of declining tops
2015-11-03 17:27:29 fib1618: which means volume is leading to the upside right now
2015-11-03 17:27:52 fib1618: and with the NYSE volume MCSUM now at +271
2015-11-03 17:28:32 fib1618: and further follow through near term should be more than enough to really kick start prices in the broad market to higher highs
2015-11-03 17:29:10 fib1618: just got this Tweet that "Auto Sales have hit levels not seen since 2000"
2015-11-03 17:29:21 fib1618: don't know if that's good or bad
2015-11-03 17:29:29 fib1618: but if we base it on the XLY
2015-11-03 17:29:33 fib1618: it's probably good news
2015-11-03 17:29:44 fib1618: and if this is so
2015-11-03 17:30:08 fib1618: either 1) people are buying because they think interest rates are about to go higher (sense of urgency)
2015-11-03 17:30:26 fib1618: or 2) people are buying because they feel comfortable with the debt load as the cost of money is historically low
2015-11-03 17:30:33 fib1618: either way
2015-11-03 17:30:44 fib1618: it's a good sign that things are improving
2015-11-03 17:30:56 fib1618: and since earnings is what drives stock prices
2015-11-03 17:31:46 fib1618: we might see something we haven't seen in a while...a mark up of equity prices because of valuation and not because of a lack of competition for investment dollars
2015-11-03 17:32:23 fib1618: up volume continues to expand in the NASDAQ volume MCO
2015-11-03 17:32:41 fib1618: after seeing double bottom support at the zero line
2015-11-03 17:33:25 fib1618: the NDX volume MCO continues to echo the strength seen in its breadth cousin
2015-11-03 17:34:32 fib1618: the SPX, OEX and Dow volume MCO's continue to show a lack of conviction
2015-11-03 17:34:54 fib1618: but if the MID and SML volume MCO's are looking better, it could be just rotation
2015-11-03 17:35:13 fib1618: and that's exactly what we're seeing here
2015-11-03 17:35:19 fib1618: at least that's one idea
2015-11-03 17:35:32 fib1618: but whatever the reason
2015-11-03 17:35:51 fib1618: we're starting to get some participation in the MID and SML volume MCO's now
2015-11-03 17:36:06 fib1618: and that should support the recent surge in the breadth data
2015-11-03 17:36:13 fib1618: still...a bit sloppy though
2015-11-03 17:36:22 fib1618: but improving nonetheless
2015-11-03 17:36:46 fib1618: and a solid performance by the TM volume MCO since last week
2015-11-03 17:37:15 fib1618: as it moved above the mid September highs today by an eyelash
2015-11-03 17:37:38 fib1618: but we're starting to see the TM volume MCSUM expanding to the upside now
2015-11-03 17:37:48 fib1618: and that should continue for another couple of days
2015-11-03 17:37:51 fib1618: so...
2015-11-03 17:38:07 fib1618: it's not an "all in" kind of market right now
2015-11-03 17:38:20 fib1618: but one in which we're getting some of the kinks out of the engine
2015-11-03 17:38:36 fib1618: and the idle is starting to smooth out
2015-11-03 17:39:29 fib1618: not too much in the way of changes in the OBV set
2015-11-03 17:39:44 fib1618: as we're still "overbought" on the STVO and VTO
2015-11-03 17:39:51 fib1618: but we continue to rise above this
2015-11-03 17:40:10 fib1618: NYSE TRIN at .68
2015-11-03 17:40:18 fib1618: buying is solid
2015-11-03 17:40:29 fib1618: Open 10 at 1.02
2015-11-03 17:40:36 fib1618: still technically "oversold" in spite of the fact that we're approaching all time price highs in several indices
2015-11-03 17:41:03 fib1618: NASDAQ TRIN at .76
2015-11-03 17:41:14 fib1618: Open 10 at .84
2015-11-03 17:41:20 fib1618: no real change there
2015-11-03 17:41:35 fib1618: TM TRIN at .72.
2015-11-03 17:41:49 fib1618: Open 10 at .91 - neutral
2015-11-03 17:41:55 fib1618: and when we're neutral
2015-11-03 17:42:05 fib1618: we know that one side is about to take control
2015-11-03 17:42:28 fib1618: we've seen a good example of this zero line concept with the breadth MCO's of late
2015-11-03 17:42:50 fib1618: where with every zero line challenge the buyers took control
2015-11-03 17:43:00 fib1618: re-enforcing exactly who's in charge
2015-11-03 17:43:06 fib1618: let me check the BETS
2015-11-03 17:43:20 fib1618: and see if the Canadian issues are still under water here
2015-11-03 17:44:14 fib1618: NAUD bounced off its 200 day EMA today
2015-11-03 17:44:18 fib1618: that's bullish
2015-11-03 17:44:55 fib1618: -20
2015-11-03 17:44:58 fib1618: cash
2015-11-03 17:45:51 fib1618: that's why with the -40 reading over the weekend included to set protective bullish stops (above market)
2015-11-03 17:46:08 fib1618: I guess, maybe, the BETS has its limitations
2015-11-03 17:46:12 fib1618: always learning
2015-11-03 17:46:16 fib1618: anything else?
2015-11-03 17:46:20 rite01: The TM volume MCO moved above September highs?  My chart showing current vol MCO still well below.
2015-11-03 17:46:42 fib1618: let me check
2015-11-03 17:47:26 rite01: Just want to make sure I'm following is all
2015-11-03 17:47:35 fib1618: yes, it did
2015-11-03 17:47:43 fib1618: above the mid September highs
2015-11-03 17:47:48 fib1618: but by an eyelash
2015-11-03 17:48:00 fib1618: mid September was +39
2015-11-03 17:48:08 fib1618: today was +41
2015-11-03 17:48:23 rite01: early mid maybe
2015-11-03 17:48:23 fib1618: are you maybe looking at the OEX??
2015-11-03 17:48:38 rite01: no TM
2015-11-03 17:48:55 fib1618: the early September highs are at +50
2015-11-03 17:49:04 fib1618: so any take out of those levels
2015-11-03 17:49:23 fib1618: and it's pretty much assured that we'll see new all time highs in the Wilshire 5000
2015-11-03 17:49:45 fib1618: anything else?
2015-11-03 17:50:02 rite01: I've got 41 on vol MCO currently
2015-11-03 17:50:16 fib1618: pretty we can only get some solid up volume figures...
2015-11-03 17:50:27 fib1618: yes
2015-11-03 17:50:30 fib1618: today was +41
2015-11-03 17:50:36 fib1618: mid September was +39
2015-11-03 17:50:57 rite01: OK I see it now.... sorry everyone
2015-11-03 17:51:03 fib1618: no problems
2015-11-03 17:51:11 fib1618: clarity is foremost
2015-11-03 17:51:22 fib1618: no sense in not understanding what's going on
2015-11-03 17:51:33 fib1618: and it keeps me on my proverbial toes
2015-11-03 17:51:36 fib1618: [smile]
2015-11-03 17:51:50 rite01: Spent too many years doing that already :blush:
2015-11-03 17:52:02 fib1618: like I always say
2015-11-03 17:52:15 fib1618: the only dumb question in here is the one that isn't asked
2015-11-03 17:52:25 fib1618: OK...if there's nothing else
2015-11-03 17:52:28 fib1618: I'm going to take off
2015-11-03 17:52:36 fib1618: everyone have a great couple of days
2015-11-03 17:52:42 fib1618: and we'll see how things look on Thursday
2015-11-03 17:52:44 fib1618: good night
2015-11-03 17:52:53 rite01: Good night everyone

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