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Posts: 5,113
Reply with quote  #1 
2014-12-02 16:00:24 [Message] fib_1618 -> Chat: good day
2014-12-02 16:00:29 [Message] fib_1618 -> Chat: how is everyone?
2014-12-02 16:02:50 [Message] hawk5734 -> Chat: very good sir...and you?
2014-12-02 16:03:15 [Message] fib_1618 -> Chat: doing fine...thanks for asking
2014-12-02 16:06:00 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started?
2014-12-02 16:06:58 [Message] unc1998 -> Chat: Nice call last week on the oil stocks  [smile]
2014-12-02 16:07:07 [Message] fib_1618 -> Chat: can you believe that?
2014-12-02 16:07:17 [Message] fib_1618 -> Chat: glad we took the longer term look of things on Tuesday
2014-12-02 16:07:30 [Message] unc1998 -> Chat: excellent timing 
2014-12-02 16:07:38 [Message] fib_1618 -> Chat: did you sell on Wednesday?
2014-12-02 16:07:52 [Message] unc1998 -> Chat: on the open 
2014-12-02 16:07:56 [Message] fib_1618 -> Chat: good job
2014-12-02 16:08:07 [Message] fib_1618 -> Chat: I thought of you when it closed at...I think...82?
2014-12-02 16:08:19 [Message] fib_1618 -> Chat: was hoping you did follow through
2014-12-02 16:08:22 [Message] unc1998 -> Chat: congrats to any of y'all that shorted
2014-12-02 16:08:31 [Message] fib_1618 -> Chat: yea...those too
2014-12-02 16:08:50 [Message] fib_1618 -> Chat: and gold is having a heart attack of late
2014-12-02 16:09:09 [Message] fib_1618 -> Chat: better to step aside there
2014-12-02 16:09:22 [Message] fib_1618 -> Chat: OK...let's get SC up and get started
2014-12-02 16:09:53 [Message] fib_1618 -> Chat: after moving down and through the zero line on Monday
2014-12-02 16:10:14 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO provided us with an obligatory snapback to or towards the zero line today
2014-12-02 16:10:55 [Message] fib_1618 -> Chat: while bouncing right on the -25 level which tends to provide short term support during times when we see advancing trends
2014-12-02 16:11:04 [Message] fib_1618 -> Chat: very much like we see with the MCSUM and the -250 level on an intermediate term basis
2014-12-02 16:11:28 [Message] fib_1618 -> Chat: and with Monday's decline
2014-12-02 16:11:43 [Message] fib_1618 -> Chat: we now have a pronounced top beneath a top working on this MCO
2014-12-02 16:11:53 [Message] fib_1618 -> Chat: so until this line of resistance is broken
2014-12-02 16:12:13 [Message] fib_1618 -> Chat: control will remain with the sellers on a short term trending basis
2014-12-02 16:12:50 [Message] fib_1618 -> Chat: as we have been commenting on for several weeks now
2014-12-02 16:13:21 [Message] fib_1618 -> Chat: the NYSE Composite breadth MCO also echoed the CO directional bias on Monday of moving to below its zero line and then snapping back to this same line today
2014-12-02 16:13:38 [Message] fib_1618 -> Chat: here though the Composite MCO actually found initial support at the -20 level
2014-12-02 16:14:20 [Message] fib_1618 -> Chat: showing an ever so slight positive weighting with the interest rate sensitive issues that trade on the NYSE
2014-12-02 16:14:26 [Message] fib_1618 -> Chat: as long as this continues
2014-12-02 16:14:41 [Message] fib_1618 -> Chat: we're likely to look back on this as a mild correction
2014-12-02 16:15:42 [Message] fib_1618 -> Chat: to the point in which this is more of a regrouping by the participants after being blindsided on Friday by the large declines in both energy and the metals
2014-12-02 16:16:05 [Message] fib_1618 -> Chat: in both cases
2014-12-02 16:16:23 [Message] fib_1618 -> Chat: the CO and Composite breadth MCSUM's remain fully in sync with each other
2014-12-02 16:16:36 [Message] fib_1618 -> Chat: after topping out on Friday at around the +600 level
2014-12-02 16:16:51 [Message] fib_1618 -> Chat: and given that the MCO's are below their zero lines
2014-12-02 16:17:03 [Message] fib_1618 -> Chat: while the components are not
2014-12-02 16:17:31 [Message] fib_1618 -> Chat: this tells us that we are in a corrective sequence and NOT the point in which of change in trend would be noted
2014-12-02 16:17:39 [Message] fib_1618 -> Chat: another...pause to refresh
2014-12-02 16:18:11 [Message] fib_1618 -> Chat: moving to the NASDAQ breadth MCO
2014-12-02 16:18:20 [Message] fib_1618 -> Chat: and it too moved down and through its zero line on Monday
2014-12-02 16:18:46 [Message] fib_1618 -> Chat: and we saw prices react violently with this change in control
2014-12-02 16:19:00 [Message] fib_1618 -> Chat: looking the components
2014-12-02 16:19:12 [Message] fib_1618 -> Chat: and today's bounce allowed the 10% Trend to snapback to its zero line
2014-12-02 16:19:25 [Message] fib_1618 -> Chat: while the 5% bounced off this same line of neutrality
2014-12-02 16:19:37 [Message] fib_1618 -> Chat: all in a day's work for the technicians out there
2014-12-02 16:19:46 [Message] fib_1618 -> Chat: where now we'll have to see what happens next
2014-12-02 16:19:52 [Message] fib_1618 -> Chat: on the bearish side of things
2014-12-02 16:20:16 [Message] fib_1618 -> Chat: we do note that the NASDAQ breadth MCSUM continues to have its challenges on this run higher
2014-12-02 16:20:27 [Message] fib_1618 -> Chat: this time finding resistance at the +200 level
2014-12-02 16:20:47 [Message] fib_1618 -> Chat: not one would call convincing work by the buyers
2014-12-02 16:21:02 [Message] fib_1618 -> Chat: and if the bulls don't belly up here on Wednesday
2014-12-02 16:21:18 [Message] fib_1618 -> Chat: we can expect that we'll see a retracement back to the zero line on the NASDAQ breadth MCSUM
2014-12-02 16:21:23 [Message] fib_1618 -> Chat: fortunately though
2014-12-02 16:21:38 [Message] fib_1618 -> Chat: the NDX has been pulling much of the weight of this advance
2014-12-02 16:21:44 [Message] fib_1618 -> Chat: let's see if it still is...
2014-12-02 16:22:03 [Message] fib_1618 -> Chat: and it's doing more than just it's part
2014-12-02 16:22:16 [Message] fib_1618 -> Chat: as the NDX breadth MCO still remains above its zero line
2014-12-02 16:22:37 [Message] fib_1618 -> Chat: while the components are still well above their zero lines for now
2014-12-02 16:22:49 [Message] fib_1618 -> Chat: looking at the NDX breadth MCSUM
2014-12-02 16:23:21 [Message] fib_1618 -> Chat: and we're now about 100 data points away from reaching our +1500 objective that was given last week
2014-12-02 16:23:54 [Message] fib_1618 -> Chat: and there's nothing as yet suggesting that this target won't be met before any chance of a reversal might be seen
2014-12-02 16:24:26 [Message] fib_1618 -> Chat: we'll also note the inside range days today on both the NASDAQ and NDX
2014-12-02 16:24:30 [Message] fib_1618 -> Chat: and with Monday closing lower
2014-12-02 16:24:43 [Message] fib_1618 -> Chat: we should have a up close on Wednesday
2014-12-02 16:24:45 [Message] fib_1618 -> Chat: then again
2014-12-02 16:24:53 [Message] fib_1618 -> Chat: with such a large decline as we did on Monday
2014-12-02 16:25:13 [Message] fib_1618 -> Chat: this is more in keeping to a simple reflex when prices move too far and too fast
2014-12-02 16:25:38 [Message] fib_1618 -> Chat: so Wednesday is going to a be an important "character day" for this index more than the others
2014-12-02 16:26:00 [Message] fib_1618 -> Chat: as noted over the weekend
2014-12-02 16:26:38 [Message] fib_1618 -> Chat: the NASDAQ was less than 260 points from its all time highs on Friday
2014-12-02 16:27:31 [Message] fib_1618 -> Chat: and if anyone thought that we were likely to accomplish challenging this high without some sort of trip up along the way, that wouldn't be a reasonable expectation
2014-12-02 16:27:35 [Message] fib_1618 -> Chat: then again
2014-12-02 16:28:14 [Message] fib_1618 -> Chat: having been up about 77% of the time in a month...a shake out like we had on Monday was not too surprising and, in fact, is quite healthy
2014-12-02 16:28:35 [Message] fib_1618 -> Chat: as it shapes sentiment that much quickly so that we can bottom again and then be on our way
2014-12-02 16:28:56 [Message] fib_1618 -> Chat: notice all the negative statements on Monday
2014-12-02 16:29:00 [Message] fib_1618 -> Chat: especially with Apple?
2014-12-02 16:29:23 [Message] fib_1618 -> Chat: everyone is again fixated on that one stock
2014-12-02 16:29:33 [Message] fib_1618 -> Chat: and any time it says "boo" it's somehow a top
2014-12-02 16:30:30 [Message] fib_1618 -> Chat: regardless...even with yesterday's decline, the stock is still up 20% from the mid October lows
2014-12-02 16:30:46 [Message] fib_1618 -> Chat: and just like before
2014-12-02 16:31:04 [Message] fib_1618 -> Chat: it will again be used as a proxy on what the market should or will be doing
2014-12-02 16:31:08 [Message] fib_1618 -> Chat: but in reality
2014-12-02 16:31:39 [Message] fib_1618 -> Chat: the market will have already made its move while the majority watch for Apple to "say so"
2014-12-02 16:32:11 [Message] fib_1618 -> Chat: the SPX had a strong reversal price bar today
2014-12-02 16:32:43 [Message] fib_1618 -> Chat: as it not only closed above yesterday's intraday highs
2014-12-02 16:33:10 [Message] fib_1618 -> Chat: but also closed just above the closing levels seen last Tuesday
2014-12-02 16:33:50 [Message] fib_1618 -> Chat: and did so with just above average volume
2014-12-02 16:34:07 [Message] fib_1618 -> Chat: this would suggest that another attempt at a new closing high is likely as soon as tomorrow
2014-12-02 16:34:29 [Message] fib_1618 -> Chat: though since we didn't close above Friday's closing mark
2014-12-02 16:35:07 [Message] fib_1618 -> Chat: the odds are not as great that we'll actually see this without some sort of indecision day first and then see the pattern follow though towards the end of the week
2014-12-02 16:35:31 [Message] fib_1618 -> Chat: as a chartist though
2014-12-02 16:35:52 [Message] fib_1618 -> Chat: finding support at the 2050 level continues to maintain our stair stepping pattern to higher highs
2014-12-02 16:36:07 [Message] fib_1618 -> Chat: and moving to the SPX breadth MCO
2014-12-02 16:36:24 [Message] fib_1618 -> Chat: we see that today's bounce also came with a zero line bounce
2014-12-02 16:36:45 [Message] fib_1618 -> Chat: while the components remain well above their zero line
2014-12-02 16:36:56 [Message] fib_1618 -> Chat: so still a lot of work for the bears to overcome here
2014-12-02 16:37:26 [Message] fib_1618 -> Chat: we'll also note that we moved up and through the +1250 level on the SPX breadth MCSUM today
2014-12-02 16:37:41 [Message] fib_1618 -> Chat: so any follow through on Wednesday will allow prices to continue their move to new highs
2014-12-02 16:38:06 [Message] fib_1618 -> Chat: with...I think...the next measured price target we worked on here in the room about a week or so ago was about 2100
2014-12-02 16:38:21 [Message] fib_1618 -> Chat: after that...we should be clear to move to our longer term target of 2250
2014-12-02 16:38:55 [Message] fib_1618 -> Chat: looking at the OEX 21 day close up price chart
2014-12-02 16:39:04 [Message] fib_1618 -> Chat: and here we saw a higher close with today's reversal
2014-12-02 16:39:23 [Message] fib_1618 -> Chat: so this increases the odds that we will see new all time closing highs as soon as Wednesday
2014-12-02 16:40:05 [Message] fib_1618 -> Chat: buy stop here on the OEX is at 920
2014-12-02 16:40:42 [Message] fib_1618 -> Chat: with any break above the declining tops line on the OEX breadth MCO probably to be enough of a burst of energy to see the OEX rally to the 1000 level
2014-12-02 16:41:21 [Message] fib_1618 -> Chat: where we should then see a one or two week pause like we saw with the SPX at 2000
2014-12-02 16:42:00 [Message] fib_1618 -> Chat: new all time closing highs today in the Dow
2014-12-02 16:42:27 [Message] fib_1618 -> Chat: as we finally broke to the upside of the high level consolidation pattern of the last week
2014-12-02 16:43:07 [Message] fib_1618 -> Chat: the Dow breadth MCO and its components remain nicely buoyant in this effort
2014-12-02 16:43:31 [Message] fib_1618 -> Chat: while the Dow breadth MCSUM is now within a day or so of reaching its +1750 target
2014-12-02 16:44:25 [Message] fib_1618 -> Chat: you can also see on the Dow breadth MCSUM how we seem to be losing our "breadth" the higher we go
2014-12-02 16:44:33 [Message] fib_1618 -> Chat: sort of like climbing a mountain
2014-12-02 16:44:45 [Message] fib_1618 -> Chat: where the air continues to get thinner and thinner
2014-12-02 16:44:54 [Message] fib_1618 -> Chat: but you're strong enough to keep going in spite of it
2014-12-02 16:45:26 [Message] fib_1618 -> Chat: we see that the MID breadth MCO also moved below its zero line on Monday
2014-12-02 16:45:42 [Message] fib_1618 -> Chat: and like the NYSE charts
2014-12-02 16:45:53 [Message] fib_1618 -> Chat: we snapped back to or towards the MCO zero line today
2014-12-02 16:46:11 [Message] fib_1618 -> Chat: notice too how the MID breadth MCSUM found its natural resistance at the +1000 level
2014-12-02 16:46:19 [Message] fib_1618 -> Chat: and has now eased off from those highs
2014-12-02 16:46:44 [Message] fib_1618 -> Chat: also a good character day for the price average
2014-12-02 16:46:58 [Message] fib_1618 -> Chat: as we saw bounce off horizontal support today
2014-12-02 16:47:02 [Message] fib_1618 -> Chat: inside range as well
2014-12-02 16:47:12 [Message] fib_1618 -> Chat: which could indicate a higher close on Wednesday
2014-12-02 16:47:39 [Message] fib_1618 -> Chat: also in play here
2014-12-02 16:47:45 [Message] fib_1618 -> Chat: is that if you take ruler to monitor
2014-12-02 16:48:07 [Message] fib_1618 -> Chat: and connect the closing high points in the MID in July and September and extend the line forward in time
2014-12-02 16:48:26 [Message] fib_1618 -> Chat: you'll see that the price pattern bounced right off this line of what was previous resistance
2014-12-02 16:48:34 [Message] fib_1618 -> Chat: essence...snapback complete ( )
2014-12-02 16:48:46 [Message] fib_1618 -> Chat: still need some upside follow through though
2014-12-02 16:48:50 [Message] fib_1618 -> Chat: and the quicker we get it
2014-12-02 16:49:15 [Message] fib_1618 -> Chat: the stronger the implications for any continued upside price gains over the short term going into next week
2014-12-02 16:49:30 [Message] fib_1618 -> Chat: lots of data over the next couple of days as well
2014-12-02 16:49:34 [Message] fib_1618 -> Chat: with the jobs numbers
2014-12-02 16:50:20 [Message] fib_1618 -> Chat: productivity and chain store sales
2014-12-02 16:50:23 [Message] fib_1618 -> Chat: btw
2014-12-02 16:50:37 [Message] fib_1618 -> Chat: I'm hearing that shipping is swamped with packages right now
2014-12-02 16:50:48 [Message] fib_1618 -> Chat: talking specifically FED EX and UPS
2014-12-02 16:50:52 [Message] fib_1618 -> Chat: trucks are full for deliveries
2014-12-02 16:51:05 [Message] fib_1618 -> Chat: which suggests that there was a lot of shopping online over the holiday
2014-12-02 16:51:12 [Message] fib_1618 -> Chat: including yours truly
2014-12-02 16:53:17 [Message] hawk5734 -> Chat: I did not understand the "snapback complete" dialogue on the MID
2014-12-02 16:54:06 [Message] fib_1618 -> Chat: let me reread
2014-12-02 16:54:19 [Message] fib_1618 -> Chat: oh...
2014-12-02 16:55:03 [Message] fib_1618 -> Chat: the prices declined on Monday to where there was the previous declining tops line connecting the July and September tops
2014-12-02 16:55:16 [Message] fib_1618 -> Chat: for every break of trend
2014-12-02 16:55:39 [Message] fib_1618 -> Chat: there is usually a snapback to test the imbalance that was provided to break that same trend
2014-12-02 16:55:56 [Message] fib_1618 -> Chat: so if we continue to move to new highs here
2014-12-02 16:56:12 [Message] fib_1618 -> Chat: not only did Monday's decline provide a pause...a rest point
2014-12-02 16:56:56 [Message] fib_1618 -> Chat: but it also included a simple technical obligation that is necessary to test the waters
2014-12-02 16:57:12 [Message] fib_1618 -> Chat: when prices move in one direction or the other
2014-12-02 16:57:56 [Message] fib_1618 -> Chat: there are usual 2-5 day consolidation points for the market to take a breather, look around to see if there's any support for the move, and if successful..we continue on our journey
2014-12-02 16:58:25 [Message] fib_1618 -> Chat: make sense now?
2014-12-02 16:58:56 [Message] fib_1618 -> Chat: let me know if you have a follow up
2014-12-02 16:59:05 [Message] fib_1618 -> Chat: moving to the SML
2014-12-02 16:59:14 [Message] hawk5734 -> Chat: thanks
2014-12-02 16:59:23 [Message] fib_1618 -> Chat: and here we continue to see the weakest spoke in the equity wheel
2014-12-02 16:59:29 [Message] fib_1618 -> Chat: with lower MCO lows on Monday
2014-12-02 16:59:49 [Message] fib_1618 -> Chat: after already seeing a move below the zero line before Thanksgiving
2014-12-02 17:00:06 [Message] fib_1618 -> Chat: fortunately though
2014-12-02 17:00:25 [Message] fib_1618 -> Chat: the SML breadth components continue to maintain buoyancy here above their zero line
2014-12-02 17:00:27 [Message] fib_1618 -> Chat: which means
2014-12-02 17:00:41 [Message] fib_1618 -> Chat: that the 19 day and 39 day EMA's of the SML AD line continues to move higher in spite of this loss in upside acceleration
2014-12-02 17:00:57 [Message] fib_1618 -> Chat: though with the SML MCO below its zero line
2014-12-02 17:01:11 [Message] fib_1618 -> Chat: the distance between these same EMA's is narrowing
2014-12-02 17:01:27 [Message] fib_1618 -> Chat: but overall, the cumulative directional flow of money continues to be moving in
2014-12-02 17:01:45 [Message] fib_1618 -> Chat: just not as brisk as it was in early November
2014-12-02 17:02:36 [Message] fib_1618 -> Chat: and we see we pretty much have this same divergence between the TM breadth MCO's being below its zero line while the TM MCO components remain positive
2014-12-02 17:03:14 [Message] fib_1618 -> Chat: so, overall, it's a simple corrective sequence without much in the way of negative substance
2014-12-02 17:03:23 [Message] fib_1618 -> Chat: what the press likes to call - profit taking
2014-12-02 17:03:27 [Message] fib_1618 -> Chat: so...
2014-12-02 17:03:37 [Message] fib_1618 -> Chat: even without the energy sector
2014-12-02 17:03:51 [Message] fib_1618 -> Chat: which has a large weighting in the major market averages
2014-12-02 17:04:09 [Message] fib_1618 -> Chat: we continue to see prices remain in and around their high points seen last week
2014-12-02 17:04:23 [Message] fib_1618 -> Chat: and with any kind of firmness over the next couple of weeks
2014-12-02 17:04:42 [Message] fib_1618 -> Chat: prices should continue to travel the path of least resistance to the upside
2014-12-02 17:04:54 [Message] fib_1618 -> Chat: let's see how the volume McClellan's are doing
2014-12-02 17:05:40 [Message] fib_1618 -> Chat: the NYSE CO volume MCO also found support today just above the -25 level today
2014-12-02 17:05:53 [Message] fib_1618 -> Chat: as long as we can maintain this buoyancy
2014-12-02 17:06:16 [Message] fib_1618 -> Chat: prices will continue to drift higher...with any pullbacks to be swift and least for now
2014-12-02 17:06:41 [Message] fib_1618 -> Chat: same indication here with the NYA Composite volume MCO
2014-12-02 17:07:28 [Message] fib_1618 -> Chat: while we also see that the Composite is also showing a bit more strength as we saw with the breadth side
2014-12-02 17:07:50 [Message] fib_1618 -> Chat: of the two
2014-12-02 17:08:08 [Message] fib_1618 -> Chat: we'll keep more of an eye on the NYSE CO volume 10% index
2014-12-02 17:08:14 [Message] fib_1618 -> Chat: as it bounced off its zero line today
2014-12-02 17:08:41 [Message] fib_1618 -> Chat: and with any reversal near term suggesting that this corrective process is probably going to extend into next week
2014-12-02 17:09:23 [Message] fib_1618 -> Chat: got a technical bounce higher today in the NASDAQ volume MCO
2014-12-02 17:09:39 [Message] fib_1618 -> Chat: settling the day with a +4 reading
2014-12-02 17:09:49 [Message] fib_1618 -> Chat: so, if anything
2014-12-02 17:10:16 [Message] fib_1618 -> Chat: Monday's sell off in the NASDAQ was not accompanied by heavy selling
2014-12-02 17:10:29 [Message] fib_1618 -> Chat: though according to the NASDAQ breadth MCO
2014-12-02 17:10:36 [Message] fib_1618 -> Chat: it was wide spread in scope
2014-12-02 17:10:52 [Message] fib_1618 -> Chat: small point change tonight in the NDX volume MCO
2014-12-02 17:11:23 [Message] fib_1618 -> Chat: as money continues to flow heavily into this basket of issues
2014-12-02 17:11:39 [Message] fib_1618 -> Chat: with the NDX volume MCSUM now at +1659
2014-12-02 17:11:57 [Message] fib_1618 -> Chat: we should be close to our next objective there of +1750 by Monday
2014-12-02 17:12:38 [Message] fib_1618 -> Chat: unlike the bounce off the SPX breadth MCO zero line we saw earlier
2014-12-02 17:13:01 [Message] fib_1618 -> Chat: the SPX volume MCO actually snapped back up to its zero line today after breaking slightly below it on Monday
2014-12-02 17:13:39 [Message] fib_1618 -> Chat: so we remain pretty much evened up right now between buyers and sellers in the SPX
2014-12-02 17:13:55 [Message] fib_1618 -> Chat: and not surprisingly
2014-12-02 17:14:03 [Message] fib_1618 -> Chat: the OEX is pretty much showing the same thing
2014-12-02 17:14:43 [Message] fib_1618 -> Chat: no real opinion on the Dow
2014-12-02 17:15:00 [Message] fib_1618 -> Chat: but with the Dow volume MCSUM at +1601
2014-12-02 17:15:35 [Message] fib_1618 -> Chat: any kind of buying will push prices higher far easier than it would be in trying to seeing prices move to the downside
2014-12-02 17:16:46 [Message] fib_1618 -> Chat: a nice bounce off the MID volume 10% component's zero line today
2014-12-02 17:17:12 [Message] fib_1618 -> Chat: while the MID volume MCSUM looks to be finishing up a inverted ledge pattern
2014-12-02 17:17:26 [Message] fib_1618 -> Chat: which would indicate an upside move out of this ledge near term
2014-12-02 17:18:53 [Message] fib_1618 -> Chat: we see that the SML volume MCO bounced off its minimal "oversold" level of -50 today
2014-12-02 17:19:15 [Message] fib_1618 -> Chat: and we'll look for a simple snapback toward the -20 level for now
2014-12-02 17:19:32 [Message] fib_1618 -> Chat: with any further strength indicating that a near term price pattern low is likely in place
2014-12-02 17:20:18 [Message] fib_1618 -> Chat: and while the TM volume MCO snapped back up to its zero line today
2014-12-02 17:20:37 [Message] fib_1618 -> Chat: the TM volume MCSUM has now snapped back to its +750 level
2014-12-02 17:21:02 [Message] fib_1618 -> Chat: we'll see how this all sorts out by Thursday as far as any support coming in near term or not
2014-12-02 17:21:05 [Message] fib_1618 -> Chat: so...
2014-12-02 17:21:21 [Message] fib_1618 -> Chat: although Monday's sell off was broad based
2014-12-02 17:21:34 [Message] fib_1618 -> Chat: there wasn't a lot of negative conviction behind it
2014-12-02 17:22:10 [Message] fib_1618 -> Chat: more like those who took the previous week off came back to work on Monday and decided to reallocate their portfolios to compliment the energy happenings on Friday
2014-12-02 17:22:27 [Message] fib_1618 -> Chat: and now cooler heads are moving back in
2014-12-02 17:23:05 [Message] fib_1618 -> Chat: let's see how the volume oscillators are fairing
2014-12-02 17:23:36 [Message] fib_1618 -> Chat: CVI's saw spikes below their zero lines on Monday
2014-12-02 17:23:43 [Message] fib_1618 -> Chat: and are not back above these same lines today
2014-12-02 17:24:18 [Message] fib_1618 -> Chat: almost like a unanticipated wave in a large ocean
2014-12-02 17:24:31 [Message] fib_1618 -> Chat: and now we're beyond it
2014-12-02 17:24:53 [Message] fib_1618 -> Chat: while the STVO's and VTO's remain positive
2014-12-02 17:25:12 [Message] fib_1618 -> Chat: NYSE TRIN at 1.43
2014-12-02 17:25:25 [Message] fib_1618 -> Chat: Open 10 at 1.01
2014-12-02 17:25:29 [Message] fib_1618 -> Chat: minimally "oversold"
2014-12-02 17:26:14 [Message] fib_1618 -> Chat: let's also note that the 55 day SMA of the TRIN is now back at levels last seen with the mid October lows with a 1.10 reading
2014-12-02 17:26:35 [Message] fib_1618 -> Chat: that would be enough for a important bottom
2014-12-02 17:26:48 [Message] fib_1618 -> Chat: NASDAQ TRIN at .96
2014-12-02 17:26:58 [Message] fib_1618 -> Chat: Open 10 at .85
2014-12-02 17:27:12 [Message] fib_1618 -> Chat: so we're staying out of "overbought" territory by and large
2014-12-02 17:27:15 [Message] fib_1618 -> Chat: and that's a good thing
2014-12-02 17:27:26 [Message] fib_1618 -> Chat: TM TRIN at 1.05
2014-12-02 17:27:40 [Message] fib_1618 -> Chat: Open 10 at .91
2014-12-02 17:27:44 [Message] fib_1618 -> Chat: neutral there
2014-12-02 17:27:46 [Message] fib_1618 -> Chat: so...
2014-12-02 17:27:59 [Message] fib_1618 -> Chat: there's nothing really different from last week
2014-12-02 17:28:15 [Message] fib_1618 -> Chat: except that we are now getting indications of a trend that is showing some maturity
2014-12-02 17:28:24 [Message] fib_1618 -> Chat: but nothing that can't be maintained
2014-12-02 17:29:04 [Message] fib_1618 -> Chat: so we should continue to work with the blueprint of short and shallow pullbacks
2014-12-02 17:29:16 [Message] fib_1618 -> Chat: where any surprises will continue to be to the upside
2014-12-02 17:29:35 [Message] fib_1618 -> Chat: of special importance here will be with the NASDAQ Composite and the SML data
2014-12-02 17:30:03 [Message] fib_1618 -> Chat: for as they will the market going into this months OPEX on the 19th
2014-12-02 17:30:34 [Message] fib_1618 -> Chat: and we'll see how things look on Thursday
2014-12-02 17:30:39 [Message] fib_1618 -> Chat: anything else?
2014-12-02 17:31:50 [Message] hawk5734 -> Chat: nothing here....thank you again Fib
2014-12-02 17:32:04 [Message] fib_1618 -> Chat: np [smile]
2014-12-02 17:32:26 [Message] fib_1618 -> Chat: let me check the BETS and we'll sign off
2014-12-02 17:33:35 [Message] fib_1618 -> Chat: -10
2014-12-02 17:33:46 [Message] fib_1618 -> Chat: and the Canadian issues continue to get hammered
2014-12-02 17:33:56 [Message] fib_1618 -> Chat: I would be very, very careful moving long the metals here
2014-12-02 17:34:07 [Message] fib_1618 -> Chat: the indications with the TSX Ventures is very poor here as it has now moved to new lows and about to challenge its all time low mark
2014-12-02 17:34:13 [Message] hawk5734 -> Chat: TSX ugly
2014-12-02 17:34:31 [Message] fib_1618 -> Chat: not surprising given that much of it has its basis in Earth related resources
2014-12-02 17:34:40 [Message] fib_1618 -> Chat: and nothing is playing "fair" right now
2014-12-02 17:34:50 [Message] fib_1618 -> Chat: Australia as well
2014-12-02 17:35:01 [Message] fib_1618 -> Chat: but the NYSE is fine and dandy
2014-12-02 17:35:05 [Message] fib_1618 -> Chat: value is doing fine
2014-12-02 17:35:13 [Message] fib_1618 -> Chat: growth...still a bit skittish
2014-12-02 17:35:41 [Message] fib_1618 -> Chat: how about that rounding top we talked about in the 10 year?
2014-12-02 17:35:55 [Message] fib_1618 -> Chat: you got to love charting patterns that have reliability
2014-12-02 17:35:59 [Message] fib_1618 -> Chat: OK...with that
2014-12-02 17:36:02 [Message] fib_1618 -> Chat: I'm going to take off
2014-12-02 17:36:10 [Message] fib_1618 -> Chat: everyone have a great couple of days
2014-12-02 17:36:18 [Message] fib_1618 -> Chat: and we'll do this all again on Thursday
2014-12-02 17:36:20 [Message] fib_1618 -> Chat: good night
2014-12-02 17:36:42 [Message] hawk5734 -> Chat: good night all....good trading

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