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Posts: 5,013
Reply with quote  #1 
2012-11-07 16:00:12 [Message] fib_1618 -> Chat: good day
2012-11-07 16:00:15 [Message] fib_1618 -> Chat: how is everyone?
2012-11-07 16:01:05 [Message] fib_1618 -> Chat: don't you love the way bottoms form?
2012-11-07 16:01:30 [Message] fib_1618 -> Chat: OK...any questions or comments from the audience??
2012-11-07 16:02:31 [Message] fib_1618 -> Chat: anyone had the gonads to trade the futures last night?
2012-11-07 16:02:45 [Message] thespookyone -> Chat: not me
2012-11-07 16:02:51 [Message] fib_1618 -> Chat: some ride
2012-11-07 16:03:11 [Message] fib_1618 -> Chat: I feel asleep about 8 Pacific when the Dow was down 105
2012-11-07 16:03:13 [Message] thespookyone -> Chat: sure was
2012-11-07 16:03:20 [Message] fib_1618 -> Chat: woke up about 1 and we were even
2012-11-07 16:03:39 [Message] fib_1618 -> Chat: fell back asleep and woke up again at 4 and down 25
2012-11-07 16:04:01 [Message] fib_1618 -> Chat: and then some big mouth in Europe opened his mouth and down we went again
2012-11-07 16:04:34 [Message] fib_1618 -> Chat: anyway...I enjoy market bottoms like this
2012-11-07 16:04:44 [Message] fib_1618 -> Chat: before we get into the data
2012-11-07 16:04:50 [Message] fib_1618 -> Chat: which should be diverging across the board now
2012-11-07 16:04:56 [Message] fib_1618 -> Chat: ISEE at 76 tonight
2012-11-07 16:05:05 [Message] fib_1618 -> Chat: so we have a buy signal there
2012-11-07 16:05:26 [Message] fib_1618 -> Chat: and I'm sure we had some high TRIN numbers as well
2012-11-07 16:05:48 [Message] fib_1618 -> Chat: it was asked on TT about an Elliott count earlier
2012-11-07 16:06:11 [Message] fib_1618 -> Chat: and I put in the A-B-C-X-A-B-C count idea that we've been working with here in the chat room
2012-11-07 16:06:29 [Message] fib_1618 -> Chat: with what should be divergent lows here
2012-11-07 16:06:46 [Message] fib_1618 -> Chat: there's a good chance now that we saw our bottom at 11:30 today
2012-11-07 16:06:54 [Message] fib_1618 -> Chat: just got the news
2012-11-07 16:07:10 [Message] fib_1618 -> Chat: Athens approved an austerity extension
2012-11-07 16:07:26 [Message] fib_1618 -> Chat: so that should move the futures higher
2012-11-07 16:07:40 [Message] fib_1618 -> Chat: questions or comments??
2012-11-07 16:07:51 [Message] fib_1618 -> Chat: then let me get DP up and we'll get started
2012-11-07 16:08:02 [Message] fib_1618 -> Chat: Japan down 1.2% at the open
2012-11-07 16:08:15 [Message] fib_1618 -> Chat: Australia down 1%
2012-11-07 16:08:25 [Message] fib_1618 -> Chat: playing a little catch up
2012-11-07 16:08:55 [Message] fib_1618 -> Chat: after moving to higher highs yesterday
2012-11-07 16:09:10 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO moved sharply back below its zero line today
2012-11-07 16:09:25 [Message] fib_1618 -> Chat: taking out last Friday's low point in the process
2012-11-07 16:09:38 [Message] fib_1618 -> Chat: we are, however, now supporting bull divergence between the MCO and price
2012-11-07 16:10:05 [Message] fib_1618 -> Chat: and we still support a series of bottoms above bottoms to the pattern structure
2012-11-07 16:10:22 [Message] fib_1618 -> Chat: same situation with the CO components
2012-11-07 16:10:42 [Message] fib_1618 -> Chat: and with today's reversal
2012-11-07 16:11:01 [Message] fib_1618 -> Chat: the NYSE CO breadth MCSUM fulfilled its obligation of a simple snapback up to its zero line yesterday
2012-11-07 16:11:16 [Message] fib_1618 -> Chat: and we have only slightly take out the recent lows
2012-11-07 16:11:29 [Message] fib_1618 -> Chat: so if the bears are going to muster up some momentum here
2012-11-07 16:11:33 [Message] fib_1618 -> Chat: this would be the time to do so
2012-11-07 16:11:42 [Message] fib_1618 -> Chat: if, however, they again show no back bone
2012-11-07 16:12:01 [Message] fib_1618 -> Chat: this will likely be our low point overall to match that of the MID and SML
2012-11-07 16:12:32 [Message] fib_1618 -> Chat: the NYSE composite breadth MCO also moved sharply lower today
2012-11-07 16:12:42 [Message] fib_1618 -> Chat: but we have only the 10% moving below its zero line
2012-11-07 16:12:47 [Message] fib_1618 -> Chat: while the 5% remains above its zero line
2012-11-07 16:13:10 [Message] fib_1618 -> Chat: this would then instruct us that today's slide in prices was part of a larger corrective sequence
2012-11-07 16:13:22 [Message] fib_1618 -> Chat: and if the MCO can hold these levels
2012-11-07 16:13:35 [Message] fib_1618 -> Chat: a divergent low was created today
2012-11-07 16:14:11 [Message] fib_1618 -> Chat: maximum downside risk right now for the NYA remains at the 8000 level
2012-11-07 16:14:31 [Message] fib_1618 -> Chat: where we see our sideways consolidation pattern back in August
2012-11-07 16:14:50 [Message] fib_1618 -> Chat: today's reversal also moved the NYSE breadth MCSUM to lower lows
2012-11-07 16:15:11 [Message] fib_1618 -> Chat: but it still remains above the +250 level with a reading of +299
2012-11-07 16:15:23 [Message] fib_1618 -> Chat: so even if we have some follow through tomorrow
2012-11-07 16:15:59 [Message] fib_1618 -> Chat: or any kind of spill over from those who hear about the markets 2% decline tonight and associate it to more coming soon
2012-11-07 16:16:21 [Message] fib_1618 -> Chat: then we should see a tradable low, overall, sometime within the week
2012-11-07 16:16:41 [Message] fib_1618 -> Chat: this low would still be part of a correctional sequence
2012-11-07 16:16:51 [Message] fib_1618 -> Chat: and not the start of a change in trend
2012-11-07 16:16:58 [Message] fib_1618 -> Chat: although, it could be
2012-11-07 16:17:21 [Message] fib_1618 -> Chat: but we'll have to wait for better confirmation before we stick our proverbial necks out
2012-11-07 16:18:03 [Message] fib_1618 -> Chat: the NASDAQ also gaped lower today
2012-11-07 16:18:15 [Message] fib_1618 -> Chat: and with the NASDAQ breadth MCO diverging now
2012-11-07 16:18:41 [Message] fib_1618 -> Chat: this gap might turn out to be an "exhaustion" gap given that there was an important news event(s) that accompanied the decline
2012-11-07 16:19:04 [Message] fib_1618 -> Chat: if we mix in a little Elliott into the mix
2012-11-07 16:19:30 [Message] fib_1618 -> Chat: if this is our complex ABC X ABC pattern
2012-11-07 16:19:53 [Message] fib_1618 -> Chat: wave C would minimally be .618 times the length of wave A
2012-11-07 16:20:24 [Message] fib_1618 -> Chat: which would put it at around 2945
2012-11-07 16:20:36 [Message] fib_1618 -> Chat: we closed today at 2937
2012-11-07 16:20:53 [Message] fib_1618 -> Chat: let me see if I can get a more specific numbers
2012-11-07 16:21:29 [Message] fib_1618 -> Chat: the NASDAQ did close below its 200 day EMA today
2012-11-07 16:22:21 [Message] fib_1618 -> Chat: 2941 on a closing basis
2012-11-07 16:22:45 [Message] fib_1618 -> Chat: so our minimal expectation for a completed Elliott structure was meet today
2012-11-07 16:22:54 [Message] fib_1618 -> Chat: if we move below 2930 tomorrow
2012-11-07 16:23:02 [Message] fib_1618 -> Chat: we're looking at A = C at...
2012-11-07 16:23:28 [Message] fib_1618 -> Chat: 2893
2012-11-07 16:23:42 [Message] fib_1618 -> Chat: but that seems too deep with the divergence we currently developed today
2012-11-07 16:24:24 [Message] fib_1618 -> Chat: so if we do move below's likely it will be accompanied by a high degree of negative breadth plurality which would put a whole new spin on things
2012-11-07 16:24:31 [Message] fib_1618 -> Chat: but this is all guess work for now
2012-11-07 16:25:29 [Message] fib_1618 -> Chat: 2930, by the way, is the downside intraday target for the .618 retracement of A
2012-11-07 16:25:43 [Message] fib_1618 -> Chat: well...not a retracement really
2012-11-07 16:26:00 [Message] fib_1618 -> Chat: but the wave off set of the structure
2012-11-07 16:26:15 [Message] fib_1618 -> Chat:'s a good guideline for the next day or so
2012-11-07 16:26:33 [Message] fib_1618 -> Chat: the NDX breadth MCO also moved lower today
2012-11-07 16:26:44 [Message] fib_1618 -> Chat: but we note that it still remains above its recent bottom
2012-11-07 16:27:04 [Message] fib_1618 -> Chat: so we continue to see continued constructive behavior with the internals
2012-11-07 16:27:22 [Message] fib_1618 -> Chat: and if we hold here at just below the MCO zero line (now at a -7)
2012-11-07 16:27:35 [Message] fib_1618 -> Chat: we could now see a significant rally event
2012-11-07 16:27:46 [Message] fib_1618 -> Chat: at this point
2012-11-07 16:27:57 [Message] fib_1618 -> Chat: we'll hope for something equal and opposite of today
2012-11-07 16:28:25 [Message] fib_1618 -> Chat: and with any near term turn
2012-11-07 16:28:42 [Message] fib_1618 -> Chat: the bulls would want to see the components move above their zero line with this same move to confirm the turn
2012-11-07 16:29:17 [Message] fib_1618 -> Chat: which, as we talked about yesterday, was the Achilles heel facing traders for the near term time frame (today and Thursday)
2012-11-07 16:29:33 [Message] fib_1618 -> Chat: (talk about an ambush...boy, we sure got one!)
2012-11-07 16:30:41 [Message] fib_1618 -> Chat: another piece of information that we didn't touch on yesterday
2012-11-07 16:30:47 [Message] fib_1618 -> Chat: but if you put ruler to monitor
2012-11-07 16:31:10 [Message] fib_1618 -> Chat: and align it to the accelerated declining structure of the NDX breadth MCSUM
2012-11-07 16:31:34 [Message] fib_1618 -> Chat: you will note that yesterday's gap expansion to the upside jumped over this same line of negative influence
2012-11-07 16:31:36 [Message] fib_1618 -> Chat: in other words
2012-11-07 16:31:56 [Message] fib_1618 -> Chat: we had a breakout for the ongoing intermediate trend of money leading this index yesterday
2012-11-07 16:32:06 [Message] fib_1618 -> Chat: and a bit of a snapback to this same breakout today
2012-11-07 16:32:11 [Message] fib_1618 -> Chat: and...
2012-11-07 16:32:19 [Message] fib_1618 -> Chat: a divergent one at that to go with the MCO
2012-11-07 16:33:04 [Message] fib_1618 -> Chat: so any kind of firmness tomorrow, and it would be time to go shopping on the long side here
2012-11-07 16:33:16 [Message] fib_1618 -> Chat: along with the MID and SML stocks
2012-11-07 16:33:43 [Message] fib_1618 -> Chat: a higher bottom today as well on the SPX breadth MCO
2012-11-07 16:33:57 [Message] fib_1618 -> Chat: so bull divergence in place there as well
2012-11-07 16:34:12 [Message] fib_1618 -> Chat: and the SPX breadth MCSUM did NOT move to lower lows today
2012-11-07 16:34:34 [Message] fib_1618 -> Chat: so if the buyers begin to move in to support prices at these levels near term
2012-11-07 16:34:43 [Message] fib_1618 -> Chat: this would also be a good buy point for the longs
2012-11-07 16:34:48 [Message] fib_1618 -> Chat: with a stop at today's lows
2012-11-07 16:35:05 [Message] fib_1618 -> Chat: no sense in trying to get cute here
2012-11-07 16:35:22 [Message] fib_1618 -> Chat: as although this divergence is present
2012-11-07 16:35:28 [Message] fib_1618 -> Chat: it still needs to be triggered
2012-11-07 16:35:49 [Message] fib_1618 -> Chat: so it would look like that this is one of those days in which we talked about on Friday
2012-11-07 16:36:14 [Message] fib_1618 -> Chat: where standing aside was the best course in not to get involved with an emotional news event
2012-11-07 16:36:48 [Message] fib_1618 -> Chat: and allowing the market to work its magic in producing a structural low to where the ladder will be able to hold steady with both legs firmly on the ground
2012-11-07 16:37:03 [Message] fib_1618 -> Chat: again...ISEE was at 76 today
2012-11-07 16:37:16 [Message] fib_1618 -> Chat: so the option speculators were at it again
2012-11-07 16:37:18 [Message] fib_1618 -> Chat: and once again
2012-11-07 16:37:41 [Message] fib_1618 -> Chat: more than likely piling into inexpensive front month puts that will go off the board a week from Friday
2012-11-07 16:37:54 [Message] fib_1618 -> Chat: which also means
2012-11-07 16:37:57 [Message] fib_1618 -> Chat: today was....
2012-11-07 16:38:04 [Message] fib_1618 -> Chat: that's right...WWW
2012-11-07 16:38:30 [Message] fib_1618 -> Chat: moving to the OEX
2012-11-07 16:39:04 [Message] fib_1618 -> Chat: and the breadth MCO structure is showing a bit more weakness here than the total 500
2012-11-07 16:39:28 [Message] fib_1618 -> Chat: so this may indicate that we're likely not quite done with shaking the tree fully of the weak hands
2012-11-07 16:40:15 [Message] fib_1618 -> Chat: and it was this index that had us back on our heels yesterday with the non confirmation between the MCO and its components
2012-11-07 16:40:56 [Message] fib_1618 -> Chat: so it will be up to the bulls to step up and show their conviction here in order for us to have a more solid low to rally from
2012-11-07 16:41:19 [Message] fib_1618 -> Chat: hard reversal on the Dow breadth MCO
2012-11-07 16:41:35 [Message] fib_1618 -> Chat: but it remains in a texturally sound structure of bottoms above bottoms
2012-11-07 16:41:40 [Message] fib_1618 -> Chat: and now supporting a divergent low
2012-11-07 16:42:26 [Message] fib_1618 -> Chat: and we should also be cognizant of the fact that we did break below the August lows today
2012-11-07 16:42:40 [Message] fib_1618 -> Chat: so, if anything, we should see a snapback attempt near term
2012-11-07 16:42:54 [Message] fib_1618 -> Chat: since we went a little too far, too fast
2012-11-07 16:43:09 [Message] fib_1618 -> Chat: this is why the market bottomed as sharply as it did today
2012-11-07 16:43:25 [Message] fib_1618 -> Chat: as if stretching the rubber band as far as it would go
2012-11-07 16:43:44 [Message] fib_1618 -> Chat: and then releasing that tension...and then moving sideways for practically the rest of the day
2012-11-07 16:43:56 [Message] fib_1618 -> Chat: and until the MOC orders hit the floor at the end of the day
2012-11-07 16:44:23 [Message] fib_1618 -> Chat: snapback to the zero line now complete on the MID breadth MCO
2012-11-07 16:44:36 [Message] fib_1618 -> Chat: with bottoms above bottoms continuing to hold the pattern in check
2012-11-07 16:44:51 [Message] fib_1618 -> Chat: and here too
2012-11-07 16:45:16 [Message] fib_1618 -> Chat: yesterday's gap higher in the MID breadth MCSUM was actually a jump above the accelerated declining tops line
2012-11-07 16:45:47 [Message] fib_1618 -> Chat: on the slightly negative side
2012-11-07 16:46:03 [Message] fib_1618 -> Chat: both of the MID components moved to negative today
2012-11-07 16:46:38 [Message] fib_1618 -> Chat: and prices themselves did find resistance again at the 1000 price level
2012-11-07 16:46:46 [Message] fib_1618 -> Chat: but did not move to lower lows today
2012-11-07 16:46:56 [Message] fib_1618 -> Chat: giving us intramarket divergence
2012-11-07 16:47:07 [Message] fib_1618 -> Chat: or to put it another way
2012-11-07 16:47:41 [Message] fib_1618 -> Chat: this usually happens during final exhaustion moves that are generally caused by a news event of some kind
2012-11-07 16:47:58 [Message] fib_1618 -> Chat: so unless the bears can add to this significantly in the next couple of days
2012-11-07 16:48:13 [Message] fib_1618 -> Chat: prices on the MID would be deemed at "wholesale" right now and worth our attention
2012-11-07 16:49:05 [Message] fib_1618 -> Chat: the SML also did not move to below its intraday lows of the last week or so
2012-11-07 16:49:18 [Message] fib_1618 -> Chat: but it did CLOSE at new lows for this sequence
2012-11-07 16:49:29 [Message] fib_1618 -> Chat: and with the SML breadth MCO still supporting higher lows here
2012-11-07 16:49:38 [Message] fib_1618 -> Chat: we now have double bull divergence in place
2012-11-07 16:50:03 [Message] fib_1618 -> Chat: the first of which was the 3rd week of October
2012-11-07 16:50:44 [Message] fib_1618 -> Chat: so unless bears can overwhelm this developing trend reversal in the direction of money flow within a day or two
2012-11-07 16:50:58 [Message] fib_1618 -> Chat: we're likely to see a significant run up in prices within a week
2012-11-07 16:51:44 [Message] fib_1618 -> Chat: and a reversal as well on the TM breadth MCO
2012-11-07 16:51:50 [Message] fib_1618 -> Chat: closing with a -27
2012-11-07 16:52:14 [Message] fib_1618 -> Chat: and looking a bit vulnerable right now
2012-11-07 16:52:23 [Message] fib_1618 -> Chat: on the bulls side though
2012-11-07 16:52:32 [Message] fib_1618 -> Chat: we are only now approaching the zero line
2012-11-07 16:52:40 [Message] fib_1618 -> Chat: with a reading of +40
2012-11-07 16:53:09 [Message] fib_1618 -> Chat: so the bulls will need to belly up soon or there could be trouble that will need our attention
2012-11-07 16:53:10 [Message] fib_1618 -> Chat: so...
2012-11-07 16:53:29 [Message] fib_1618 -> Chat: as was the general feel from yesterday
2012-11-07 16:53:34 [Message] fib_1618 -> Chat: the bulls had a good day
2012-11-07 16:53:39 [Message] fib_1618 -> Chat: and they also had a so so day
2012-11-07 16:54:11 [Message] fib_1618 -> Chat: where a election surprise, or disappointment, might provide another shake out to work with
2012-11-07 16:54:55 [Message] fib_1618 -> Chat: but this anticipated shake out would also compliment the larger cap MCO's that still did not have divergent structures like those with the MID and SML
2012-11-07 16:55:03 [Message] fib_1618 -> Chat: so...that was taken care of today
2012-11-07 16:55:10 [Message] fib_1618 -> Chat: and now it's decision time
2012-11-07 16:55:53 [Message] fib_1618 -> Chat: and whether or not the very last bit of sellers have been wrung out so that the buyers can come flooding in to fill this void
2012-11-07 16:56:19 [Message] fib_1618 -> Chat: any hard sell off from here would pretty much blow out any or all divergences
2012-11-07 16:56:25 [Message] fib_1618 -> Chat: so it's a matter now of "show me"
2012-11-07 16:56:35 [Message] fib_1618 -> Chat: but with the background sentiment as it is
2012-11-07 16:57:04 [Message] fib_1618 -> Chat: the odds are increasing that our expectation of a developing bottom have now increased quite a bit from yesterday
2012-11-07 16:57:21 [Message] fib_1618 -> Chat: let's see how the volume McClellan's did
2012-11-07 16:57:47 [Message] fib_1618 -> Chat: we have a divergent low as well with the NYSE CO volume MCO now
2012-11-07 16:57:53 [Message] fib_1618 -> Chat: so we remain in sync there
2012-11-07 16:58:25 [Message] fib_1618 -> Chat: we also have divergence now, and held the recent bottom, on the NYSE composite volume MCO
2012-11-07 16:58:28 [Message] fib_1618 -> Chat: so good
2012-11-07 16:59:11 [Message] fib_1618 -> Chat: remembering that our fear from yesterday was all of the MCO volume components that were not confirming yesterday's rally
2012-11-07 16:59:18 [Message] fib_1618 -> Chat: that was taken care of today
2012-11-07 16:59:35 [Message] fib_1618 -> Chat: with the NASDAQ volume MCO also supporting some divergence here now
2012-11-07 16:59:57 [Message] fib_1618 -> Chat: and the NASDAQ volume MCSUM remains above last weeks lows
2012-11-07 17:00:09 [Message] fib_1618 -> Chat: so if we turn around again as fast as we did today
2012-11-07 17:00:24 [Message] fib_1618 -> Chat: we would have slight bull divergence with the MCSUM
2012-11-07 17:01:08 [Message] fib_1618 -> Chat: a simple snapback down to or towards the zero line today on the NDX volume MCO
2012-11-07 17:01:48 [Message] fib_1618 -> Chat: and now testing the price support area that held prior to the August/September advance
2012-11-07 17:01:58 [Message] fib_1618 -> Chat: so we should see at least a bounce attempt there as soon as tomorrow
2012-11-07 17:02:25 [Message] fib_1618 -> Chat: and if we see the NDX volume MCO move back above its zero line with this bounce
2012-11-07 17:02:46 [Message] fib_1618 -> Chat: we will then have a divergent structure in place with the NDX volume MCSUM
2012-11-07 17:03:16 [Message] fib_1618 -> Chat: bull divergence and a higher low on the SPX volume MCO
2012-11-07 17:03:40 [Message] fib_1618 -> Chat: a little weaker on the OEX volume MCO like its breadth counterpart
2012-11-07 17:04:16 [Message] fib_1618 -> Chat: we're now diverging on the Dow volume MCO
2012-11-07 17:04:30 [Message] fib_1618 -> Chat: but it sure would be nice if we had a little more back and fill there
2012-11-07 17:04:47 [Message] fib_1618 -> Chat: bull divergence on the MID volume MCO
2012-11-07 17:05:01 [Message] fib_1618 -> Chat: and a zero line snapback test on the MID volume MCSUM
2012-11-07 17:05:37 [Message] fib_1618 -> Chat: with the components both suggesting at least a bounce attempt on Thursday off their zero line
2012-11-07 17:05:55 [Message] fib_1618 -> Chat: divergence as well with the SML volume MCO
2012-11-07 17:06:03 [Message] fib_1618 -> Chat: though the components remain negative
2012-11-07 17:06:30 [Message] fib_1618 -> Chat: and a bit of a break down with the TM volume MCO data
2012-11-07 17:07:04 [Message] fib_1618 -> Chat: but it will be up to the bears to show some follow through, or they may have run out of time (and ammunition) to drive prices lower from here
2012-11-07 17:07:07 [Message] fib_1618 -> Chat: sooooo....
2012-11-07 17:07:23 [Message] fib_1618 -> Chat: we continue to maintain constructive behavior overall
2012-11-07 17:07:38 [Message] fib_1618 -> Chat: both the breadth and volume data remain pretty much in sync here
2012-11-07 17:07:51 [Message] fib_1618 -> Chat: and with today's hard decline
2012-11-07 17:08:07 [Message] fib_1618 -> Chat: we now have divergent structures across the board
2012-11-07 17:08:13 [Message] fib_1618 -> Chat: with some stronger than others
2012-11-07 17:08:40 [Message] fib_1618 -> Chat: while some need to show a some muscle so that a tradable price low can indeed be created
2012-11-07 17:08:53 [Message] fib_1618 -> Chat: any further breakdown though
2012-11-07 17:09:03 [Message] fib_1618 -> Chat: would suggest that something nasty is coming
2012-11-07 17:09:09 [Message] fib_1618 -> Chat: but at this point
2012-11-07 17:09:22 [Message] fib_1618 -> Chat: with the MCSUM's declining for about 2 months or more
2012-11-07 17:09:39 [Message] fib_1618 -> Chat: and the complex textural patterns being created with the MCO's
2012-11-07 17:09:58 [Message] fib_1618 -> Chat: no less that that MCSUM's had indicated that our next chance of a reversal in trend would be about the middle of this month
2012-11-07 17:10:12 [Message] fib_1618 -> Chat: along with put buying picking up dramatically today
2012-11-07 17:10:38 [Message] fib_1618 -> Chat: we currently have a pretty good foundation for an at least the highs of this year
2012-11-07 17:11:18 [Message] fib_1618 -> Chat: with the only bug-a-boo left on the radar is the capital gains selling that is sure to come between the end of this month and the 10th of December
2012-11-07 17:11:42 [Message] fib_1618 -> Chat: let's check around to see how other indicators are doing
2012-11-07 17:12:23 [Message] fib_1618 -> Chat: nothing much to talk about on the Bollinger PVI
2012-11-07 17:12:38 [Message] fib_1618 -> Chat: though the CBOE data saw a large amount of put buying today
2012-11-07 17:13:45 [Message] fib_1618 -> Chat: the CBOE put/call ratio also got to levels that have been consistent to price lows in the recent past
2012-11-07 17:14:59 [Message] fib_1618 -> Chat: CVI's got close to being climactic today
2012-11-07 17:15:39 [Message] fib_1618 -> Chat: STVO's are now neutral after working off their somewhat "overbought" levels of yesterday
2012-11-07 17:15:46 [Message] fib_1618 -> Chat: though really not much to talk about
2012-11-07 17:16:00 [Message] fib_1618 -> Chat: VTO's remain sluggish
2012-11-07 17:16:08 [Message] fib_1618 -> Chat: and on the bearish side of neutral
2012-11-07 17:16:20 [Message] fib_1618 -> Chat: NYSE TRIN at 2.28
2012-11-07 17:16:26 [Message] fib_1618 -> Chat: (not surprising)
2012-11-07 17:16:46 [Message] fib_1618 -> Chat: Open 10 now back to deeply "oversold" at 1.19
2012-11-07 17:17:07 [Message] fib_1618 -> Chat: well...let's be fair..."highly" "oversold"
2012-11-07 17:17:47 [Message] fib_1618 -> Chat: also notice that both the 21 day and 55 day SMA's of the TRIN are both minimally "oversold" as well
2012-11-07 17:18:01 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.34
2012-11-07 17:18:11 [Message] fib_1618 -> Chat: Open 10 at 1.03
2012-11-07 17:18:49 [Message] fib_1618 -> Chat: with the 55 day SMA of the TRINQ now "oversold"
2012-11-07 17:19:02 [Message] fib_1618 -> Chat: and the TM TRIN at 1.81
2012-11-07 17:19:10 [Message] fib_1618 -> Chat: Open 10 at 1.09
2012-11-07 17:19:26 [Message] fib_1618 -> Chat: and the 55 day SMA also being "oversold" as well
2012-11-07 17:19:29 [Message] fib_1618 -> Chat: so...
2012-11-07 17:19:46 [Message] fib_1618 -> Chat: it would seem that this was a day in which the bull doctor ordered
2012-11-07 17:19:53 [Message] fib_1618 -> Chat: after moving drip by drip lower
2012-11-07 17:20:06 [Message] fib_1618 -> Chat: and showing little in the way of vigor to the upside
2012-11-07 17:20:30 [Message] fib_1618 -> Chat: it looks like we have finally created, or are very near in completing, an exhaustion point
2012-11-07 17:20:54 [Message] fib_1618 -> Chat: where we should see 2-4 weeks of positive market behavior beginning as soon as tomorrow
2012-11-07 17:21:19 [Message] fib_1618 -> Chat: for the longs who are still on hold, we can loosen up a bit on our stops
2012-11-07 17:21:34 [Message] fib_1618 -> Chat: though it might be prudent that if we do see new lows tomorrow
2012-11-07 17:21:44 [Message] fib_1618 -> Chat: and breadth is moving more than 3:1 to the bad
2012-11-07 17:21:52 [Message] fib_1618 -> Chat: that it might time to close those positions
2012-11-07 17:21:56 [Message] fib_1618 -> Chat: for the shorts
2012-11-07 17:22:19 [Message] fib_1618 -> Chat: those tight stops allowed you to have a nice day today
2012-11-07 17:22:32 [Message] fib_1618 -> Chat: but it was likely a hit and run event
2012-11-07 17:22:36 [Message] fib_1618 -> Chat: and if one were short
2012-11-07 17:23:03 [Message] fib_1618 -> Chat: the lack of follow through after 11:30 should give cause for caution in holding the position for too much longer
2012-11-07 17:23:11 [Message] fib_1618 -> Chat: overall
2012-11-07 17:23:35 [Message] fib_1618 -> Chat: all the minimal ingredients are now in place for a trading low of this corrective sequence
2012-11-07 17:23:49 [Message] fib_1618 -> Chat: all we need now is for the market to follow through on this expectation
2012-11-07 17:23:56 [Message] fib_1618 -> Chat: anything else?
2012-11-07 17:25:06 [Message] fib_1618 -> Chat: let me check to see how futures are doing on the Greece news event
2012-11-07 17:25:30 [Message] fib_1618 -> Chat: nothing special...up 21 overall on the Dow
2012-11-07 17:26:06 [Message] fib_1618 -> Chat: how is message board sentiment after today?
2012-11-07 17:26:37 [Message] fib_1618 -> Chat: I will quickly moment
2012-11-07 17:27:33 [Message] fib_1618 -> Chat: looks mixed on TT...I don't go to any other sites
2012-11-07 17:27:43 [Message] fib_1618 -> Chat: comments?
2012-11-07 17:27:45 [Message] fib_1618 -> Chat: questions?
2012-11-07 17:27:53 [Message] fib_1618 -> Chat: answers?
2012-11-07 17:27:58 [Message] fib_1618 -> Chat:
2012-11-07 17:28:46 [Message] fib_1618 -> Chat: keep an eye on gold
2012-11-07 17:29:04 [Message] fib_1618 -> Chat: now that we know that things aren't going to change monetarily wise for a while
2012-11-07 17:29:10 [Message] fib_1618 -> Chat: we might have a bottom there
2012-11-07 17:29:36 [Message] fib_1618 -> Chat: right at the 200 day EMA
2012-11-07 17:29:51 [Message] fib_1618 -> Chat: and expanding volume today on the up close
2012-11-07 17:30:02 [Message] fib_1618 -> Chat: OK...if there's nothing else
2012-11-07 17:30:08 [Message] fib_1618 -> Chat: I'm going to take off a bit early tonight
2012-11-07 17:30:27 [Message] fib_1618 -> Chat: remember that we have one more chat this week...our usual Thursday get together
2012-11-07 17:30:36 [Message] fib_1618 -> Chat: so we'll see how things are going then
2012-11-07 17:30:41 [Message] fib_1618 -> Chat: have a great evening!
2012-11-07 17:30:42 [Message] fib_1618 -> Chat: good night

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