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


PayPal Verified
Join our market chat sessions every Tuesday and Thursday at 4:00 pm Pacific time!
More information on subscriber services can be found at
http://www.technicalwatch.com/subs.htm




Support Technical Watch!
Buy from our Book Store!
Register Calendar Latest Topics
 
 
 


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


Reply
  Author   Comment  
fib_1618

Moderator
Registered:
Posts: 4,458
Reply with quote  #1 
2011-12-08 15:59:59 [Message] fib_1618 -> Chat: good day
2011-12-08 16:00:01 [Message] fib_1618 -> Chat: how is everyone?
2011-12-08 16:01:06 [Message] fib_1618 -> Chat: gee...I thought maybe you guys would be more animated today
2011-12-08 16:01:39 [Message] thespookyone -> Chat: wee. LOL
2011-12-08 16:02:00 [Message] thespookyone -> Chat: $$$
2011-12-08 16:02:46 [Message] fib_1618 -> Chat: how about that last hour today?!?!
2011-12-08 16:03:03 [Message] fib_1618 -> Chat: I had to take 3 Dramamine for that one!
2011-12-08 16:03:07 [Message] thespookyone -> Chat: breadth called it
2011-12-08 16:03:13 [Message] fib_1618 -> Chat: it was just a matter of time
2011-12-08 16:03:22 [Message] thespookyone -> Chat: yep
2011-12-08 16:03:26 [Message] fib_1618 -> Chat: we chipped away at the lower end of the range yesterday
2011-12-08 16:03:37 [Message] fib_1618 -> Chat: and punched through it nicely in the last half hour today
2011-12-08 16:04:10 [Message] thespookyone -> Chat: the xle setup coming in was especially nice, I thought
2011-12-08 16:04:30 [Message] fib_1618 -> Chat: yep
2011-12-08 16:04:47 [Message] fib_1618 -> Chat: OK...any questions or comments before we pour through the data?
2011-12-08 16:05:14 [Message] thespookyone -> Chat: you've seen this quite well
2011-12-08 16:05:29 [Message] fib_1618 -> Chat: it took all my will power not to pre look at the data tonight...so I'm looking forward to it
2011-12-08 16:05:43 [Message] thespookyone -> Chat: I waited too, for fun
2011-12-08 16:05:58 [Message] fib_1618 -> Chat: first impressions are always the best I've found over the years
2011-12-08 16:06:06 [Message] fib_1618 -> Chat: so...without further adieu
2011-12-08 16:06:15 [Message] fib_1618 -> Chat: lets go to DP and see what we have
2011-12-08 16:06:34 [Message] fib_1618 -> Chat: oh boy
2011-12-08 16:06:48 [Message] fib_1618 -> Chat: first of all
2011-12-08 16:06:58 [Message] fib_1618 -> Chat: I hope no one here is even thinking of going long at this point
2011-12-08 16:07:08 [Message] fib_1618 -> Chat: OK...here we go
2011-12-08 16:07:21 [Message] fib_1618 -> Chat: after a couple of days of small point changes
2011-12-08 16:07:49 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO finally broke down today back below its zero line suggesting that the counter trend rally from the Black Friday lows is now complete
2011-12-08 16:08:01 [Message] fib_1618 -> Chat: as we can also see on the chart
2011-12-08 16:08:26 [Message] fib_1618 -> Chat: we took out the little hesitation point we see on the MCO prior to it moving back above the zero line last week
2011-12-08 16:09:30 [Message] fib_1618 -> Chat: this "blip support" area is as important as the "blip resistance" areas we had prior to last Wednesday's power move higher that needed to be taken out to give the bulls a chance of snapping back fully to the MCO zero line
2011-12-08 16:10:06 [Message] fib_1618 -> Chat: so near term here
2011-12-08 16:10:28 [Message] fib_1618 -> Chat: we should expect to have a snapback to or towards the zero line here as soon as Friday
2011-12-08 16:11:02 [Message] fib_1618 -> Chat: but given that the components of this MCO also moved to a sell signal today
2011-12-08 16:11:19 [Message] fib_1618 -> Chat: along with the zero line providing resistance to the NYSE CO breadth MCSUM
2011-12-08 16:11:35 [Message] fib_1618 -> Chat: we may not need this technical expectation to occur at this juncture
2011-12-08 16:12:19 [Message] fib_1618 -> Chat: especially since the very problem in which the market is trying to work out, the EU, is having their conference this coming weekend
2011-12-08 16:12:31 [Message] fib_1618 -> Chat: so....maybe a bit of hope for tomorrow
2011-12-08 16:12:57 [Message] fib_1618 -> Chat: and probably some sort of bad news on Monday should get the ball rolling to our eventual test of the Black Friday price lows
2011-12-08 16:12:59 [Message] fib_1618 -> Chat: if not more
2011-12-08 16:13:30 [Message] fib_1618 -> Chat: the composite NYSE breadth MCO also moved back below its zero line today
2011-12-08 16:13:55 [Message] fib_1618 -> Chat: but we don't have an all clear sell signal as yet on the components
2011-12-08 16:14:02 [Message] fib_1618 -> Chat: looking at the NYSE breadth MCSUM
2011-12-08 16:14:18 [Message] fib_1618 -> Chat: we defiantly see more of a ledge pattern there than a fishhook
2011-12-08 16:14:38 [Message] fib_1618 -> Chat: but either structure suggests that we have at least one move move lower in this MCSUM still yet to come
2011-12-08 16:14:39 [Message] fib_1618 -> Chat: for the bulls
2011-12-08 16:14:48 [Message] fib_1618 -> Chat: they need to see support at the zero line
2011-12-08 16:15:17 [Message] fib_1618 -> Chat: which is both horizontal AND trendline support
2011-12-08 16:15:34 [Message] fib_1618 -> Chat: a break of that level then would be a highly bearish event
2011-12-08 16:15:59 [Message] fib_1618 -> Chat: and would strongly suggest a test of the 10/4 price lows
2011-12-08 16:16:15 [Message] fib_1618 -> Chat: of which the MCO has already given as its downside target
2011-12-08 16:16:34 [Message] fib_1618 -> Chat: and since its the zero line
2011-12-08 16:17:03 [Message] fib_1618 -> Chat: any move down and through will likely give us quite a bit of volatility to go along with this same break
2011-12-08 16:17:09 [Message] fib_1618 -> Chat: but that's for next week
2011-12-08 16:17:34 [Message] fib_1618 -> Chat: back below the zero line as well with the NASDAQ breadth MCO
2011-12-08 16:17:58 [Message] fib_1618 -> Chat: and the NASDAQ breadth MCSUM has now moved to a lower low in this current sequence by falling off its ledge formation
2011-12-08 16:18:52 [Message] fib_1618 -> Chat: the rising bottoms line here on the NASDAQ breadth MCSUM just so happens to intersect the -500 level
2011-12-08 16:19:05 [Message] fib_1618 -> Chat: so we should look for this target as a minimal downside objective for now
2011-12-08 16:19:18 [Message] fib_1618 -> Chat: again...probably next week after some sort of firmness on Friday
2011-12-08 16:19:42 [Message] fib_1618 -> Chat: looks like we're setting up for some kind of week for OPEX
2011-12-08 16:20:18 [Message] fib_1618 -> Chat: the problem child of the group, the NDX breadth MCO, is now back to minimally "oversold" levels
2011-12-08 16:20:54 [Message] fib_1618 -> Chat: and our mentioning of the NDX breadth MCSUM looking like it was sliding lower turned out to be the best interpretation
2011-12-08 16:21:41 [Message] fib_1618 -> Chat: with a break below the -250 level probably being enough to break the rising trend line of the NDX price chart itself connecting the October and November bottoms
2011-12-08 16:21:59 [Message] fib_1618 -> Chat: gosh...that's a 150 point move just to get to that line
2011-12-08 16:22:24 [Message] fib_1618 -> Chat: moving to the SPX breadth MCO
2011-12-08 16:22:45 [Message] fib_1618 -> Chat: and the first thing we notice is that the market is pretty much in sync here with all of their MCO's
2011-12-08 16:23:06 [Message] fib_1618 -> Chat: sell signal on the SPX components as well
2011-12-08 16:23:25 [Message] fib_1618 -> Chat: and look how the +250 level found resistance on the SPX breadth MCSUM
2011-12-08 16:24:04 [Message] fib_1618 -> Chat: the OEX breadth MCO moved below its zero line today
2011-12-08 16:24:14 [Message] fib_1618 -> Chat: but the 5% component remains above zero suggesting corrective activity
2011-12-08 16:24:34 [Message] fib_1618 -> Chat:  at least so far
2011-12-08 16:24:49 [Message] fib_1618 -> Chat: but any further weakness tomorrow
2011-12-08 16:25:02 [Message] fib_1618 -> Chat: and the OEX breadth MCSUM will be moving to lower lows
2011-12-08 16:25:22 [Message] fib_1618 -> Chat: with the near term objective of the +250 level
2011-12-08 16:25:33 [Message] fib_1618 -> Chat: but given the greater weakness of the broader market
2011-12-08 16:25:52 [Message] fib_1618 -> Chat: more than likely we won't see good support to come in here until the zero line
2011-12-08 16:26:11 [Message] fib_1618 -> Chat: where we will once again see balance between buyers and sellers
2011-12-08 16:26:51 [Message] fib_1618 -> Chat: moving to the Dow
2011-12-08 16:27:25 [Message] fib_1618 -> Chat: and we see that we had the potential for bear divergence yesterday between the close of the Dow and the lower highs in the Dow breadth MCO
2011-12-08 16:27:49 [Message] fib_1618 -> Chat: but until we break below the "blip support" area we see on the chart
2011-12-08 16:28:01 [Message] fib_1618 -> Chat: it's only a potential and not a probable situation
2011-12-08 16:28:50 [Message] fib_1618 -> Chat: given the overall weakness of the bounce, however, its a better than a 50/50 chance that it will turn out to be bear divergence
2011-12-08 16:29:33 [Message] fib_1618 -> Chat: sell signal generated on the MID breadth MCO and its components today
2011-12-08 16:29:44 [Message] fib_1618 -> Chat: and the MID breadth MCSUM moved to lower lows as well
2011-12-08 16:29:59 [Message] fib_1618 -> Chat: with a current reading of +84
2011-12-08 16:30:31 [Message] fib_1618 -> Chat: the first chance of the MID MCSUM moving down and through its zero line will be on Monday
2011-12-08 16:31:01 [Message] fib_1618 -> Chat: and remember what tends to happen when opinions shift..we tend to see big moves in the averages
2011-12-08 16:31:13 [Message] fib_1618 -> Chat: in this case from up to down
2011-12-08 16:31:28 [Message] fib_1618 -> Chat: could be the EU meeting that would cause the disappointment
2011-12-08 16:31:43 [Message] fib_1618 -> Chat: but we also have the Iranian situation going on right now
2011-12-08 16:31:59 [Message] fib_1618 -> Chat: no less political backlash in Russia
2011-12-08 16:32:22 [Message] fib_1618 -> Chat: in any case
2011-12-08 16:32:37 [Message] fib_1618 -> Chat: the market seems to have a pattern of late of moving in one direction or the other and then terminating that sequence on Tuesday
2011-12-08 16:33:03 [Message] fib_1618 -> Chat: we might see this again this time around as well
2011-12-08 16:33:16 [Message] fib_1618 -> Chat: but at this point...we know that the bears have the power here
2011-12-08 16:33:53 [Message] fib_1618 -> Chat: both with the direction of money flow and the exhaustive nature of the recent bounce off the 11/25 lows
2011-12-08 16:34:36 [Message] fib_1618 -> Chat: the SML breadth MCO and its components are showing the same kind of internal weakness as compared with the MID
2011-12-08 16:34:54 [Message] fib_1618 -> Chat: but here the SML breadth MCO has yet to break below its blip support area
2011-12-08 16:34:58 [Message] fib_1618 -> Chat: could do it tomorrow
2011-12-08 16:35:13 [Message] fib_1618 -> Chat: or we might get a snapback first
2011-12-08 16:35:26 [Message] fib_1618 -> Chat: I guess it all depends on who opens their mouth over night
2011-12-08 16:35:30 [Message] fib_1618 -> Chat: speaking of which
2011-12-08 16:35:41 [Message] fib_1618 -> Chat: how about the futures market this morning?
2011-12-08 16:35:50 [Message] fib_1618 -> Chat: pretty much flat all night
2011-12-08 16:35:59 [Message] fib_1618 -> Chat: job creation figures came out
2011-12-08 16:36:16 [Message] fib_1618 -> Chat: along with the anticipation of the EU doing their own quantitative easing
2011-12-08 16:36:34 [Message] fib_1618 -> Chat: the Dow futures went up 90 points in 10 minutes
2011-12-08 16:37:11 [Message] fib_1618 -> Chat: and then the head of the ECB opened his mouth and the futures were down 100 points 15 minutes after!
2011-12-08 16:37:15 [Message] thespookyone -> Chat: was wild, the ECB guy sounded like Reed Hastings from Netflix, LOL
2011-12-08 16:37:20 [Message] fib_1618 -> Chat: lol
2011-12-08 16:37:38 [Message] fib_1618 -> Chat: "I don't know what the media keeps thinking here"
2011-12-08 16:37:57 [Message] fib_1618 -> Chat: absolutely the wildest gyrations I have EVER seen in the markets
2011-12-08 16:38:16 [Message] fib_1618 -> Chat: every morning of late I just shake my head in amazement
2011-12-08 16:38:32 [Message] fib_1618 -> Chat: anyway
2011-12-08 16:38:36 [Message] fib_1618 -> Chat: one moment
2011-12-08 16:40:21 [Message] fib_1618 -> Chat: was just outside
2011-12-08 16:40:24 [Message] fib_1618 -> Chat: guess what?
2011-12-08 16:40:32 [Message] fib_1618 -> Chat: full moon on Saturday
2011-12-08 16:40:56 [Message] fib_1618 -> Chat: and you know what kind of lunacy that brings
2011-12-08 16:41:23 [Message] fib_1618 -> Chat: the SML breadth MCSUM fell off its ledge today
2011-12-08 16:41:54 [Message] fib_1618 -> Chat: and after kissing the zero line yesterday, the TM breadth MCSUM moved lower today
2011-12-08 16:42:34 [Message] fib_1618 -> Chat: so far, then, we seeing some classic technical conditions in the markets making our forecast pretty much spot on
2011-12-08 16:42:40 [Message] fib_1618 -> Chat: breakdowns...
2011-12-08 16:42:49 [Message] fib_1618 -> Chat: going to deeply "oversold" levels
2011-12-08 16:42:53 [Message] fib_1618 -> Chat: snapping back
2011-12-08 16:43:11 [Message] fib_1618 -> Chat: allowing the longer term oscillator perform a snapback of its own
2011-12-08 16:43:20 [Message] fib_1618 -> Chat: and in a perfect technical world, next week should be a good week for the bears
2011-12-08 16:44:02 [Message] fib_1618 -> Chat: as the market resumes what the FED and others attempted to bring to a halt
2011-12-08 16:44:54 [Message] thespookyone -> Chat: well, if they stay out this time, it probably bottoms
2011-12-08 16:45:16 [Message] fib_1618 -> Chat: and it should turn out to be a great example of no matter what a Government thinks it can do to change the course of a trend, it is usually just a temporary fix and the market will eventually find a way to get things done on its own time table and terms
2011-12-08 16:45:32 [Message] fib_1618 -> Chat: it's just like capitalism
2011-12-08 16:45:42 [Message] fib_1618 -> Chat: if the government leaves you alone
2011-12-08 16:45:49 [Message] fib_1618 -> Chat: the free market will always find a way to work things out
2011-12-08 16:46:23 [Message] fib_1618 -> Chat: OK...let's move to the more important area right now...the volume McClellan's
2011-12-08 16:48:22 [Message] fib_1618 -> Chat: OK
2011-12-08 16:48:30 [Message] fib_1618 -> Chat: with the volume charts
2011-12-08 16:48:48 [Message] fib_1618 -> Chat: our biggest concern here is the potential for a Summation Failure pattern structure
2011-12-08 16:48:52 [Message] fib_1618 -> Chat: as a quick review
2011-12-08 16:49:12 [Message] fib_1618 -> Chat: a Summation Failure occurs when we have an over extended MCSUM well above the +500 level
2011-12-08 16:49:22 [Message] fib_1618 -> Chat: it peaks out and starts to decline to correct those excesses in buying power
2011-12-08 16:49:44 [Message] fib_1618 -> Chat: when it doesn't find support at the +500 level
2011-12-08 16:49:48 [Message] fib_1618 -> Chat: and then the +250 level
2011-12-08 16:49:56 [Message] fib_1618 -> Chat: it then finds "balanced" support at its zero line
2011-12-08 16:50:21 [Message] fib_1618 -> Chat: this instructs us that though the bulls had good control of the prior rally
2011-12-08 16:50:51 [Message] fib_1618 -> Chat: there wasn't that many waiting for a pullback in order to hook on to ride the train further north
2011-12-08 16:51:05 [Message] fib_1618 -> Chat: usually during times of thrusts
2011-12-08 16:51:38 [Message] fib_1618 -> Chat: you will see these 250 MCSUM multiples provide support during the initial stages of this newly found energy boost
2011-12-08 16:52:17 [Message] fib_1618 -> Chat: having very little buying after a mature bull market is another clue as to this same maturity
2011-12-08 16:52:19 [Message] fib_1618 -> Chat: no less
2011-12-08 16:52:46 [Message] fib_1618 -> Chat: the idea that we talked about early last month about bull market termination moves in the MCSUM
2011-12-08 16:53:02 [Message] fib_1618 -> Chat: (which turned out to be a one of the better timed discussions we've had here)
2011-12-08 16:53:13 [Message] fib_1618 -> Chat: now...once we hit the zero line
2011-12-08 16:53:28 [Message] fib_1618 -> Chat: being that we now have balance between buyers and sellers
2011-12-08 16:53:48 [Message] fib_1618 -> Chat: it is then the prime opportunity for the bulls to re-establish the current uptrend on this bounce
2011-12-08 16:54:06 [Message] fib_1618 -> Chat: with both sides being pretty much equal as their opinion
2011-12-08 16:54:08 [Message] fib_1618 -> Chat: so initially
2011-12-08 16:54:16 [Message] fib_1618 -> Chat: we see buying come in aggressively
2011-12-08 16:54:21 [Message] fib_1618 -> Chat: just like we saw last week
2011-12-08 16:54:41 [Message] fib_1618 -> Chat: but then this same buying disappears quickly
2011-12-08 16:54:53 [Message] fib_1618 -> Chat: leaving very little energy to sustain growth
2011-12-08 16:54:59 [Message] fib_1618 -> Chat: it is usually at this time
2011-12-08 16:55:15 [Message] fib_1618 -> Chat: when we do see higher price highs as the momentum of the initial move is used up
2011-12-08 16:55:26 [Message] fib_1618 -> Chat: but since there isn't any fresh money coming in
2011-12-08 16:55:39 [Message] fib_1618 -> Chat: the market rises up...stalls, and then starts heading lower again
2011-12-08 16:55:59 [Message] fib_1618 -> Chat: sort of like...remember when you were a kid and you had a water powered rocket?
2011-12-08 16:56:02 [Message] tracca -> Chat: Fib, NDX MCSUM was around +700, peaked, came down without hesitation, cut through its zero line, could not climb back up, and turned down, still heading south. Was that not a Summation Failure?
2011-12-08 16:56:19 [Message] fib_1618 -> Chat: it took off...lost its water pressure...and then fell back to Earth
2011-12-08 16:56:26 [Message] fib_1618 -> Chat: its the same concept here
2011-12-08 16:56:39 [Message] fib_1618 -> Chat: and since there are no new buyers here
2011-12-08 16:56:51 [Message] fib_1618 -> Chat: the selling starts to accelerate
2011-12-08 16:57:01 [Message] fib_1618 -> Chat: and once we're back to being balanced again (the zero line)
2011-12-08 16:57:11 [Message] fib_1618 -> Chat: no longer are there buyers there to help support prices
2011-12-08 16:57:26 [Message] fib_1618 -> Chat: and we tend to get a "crash like" event because of this
2011-12-08 16:57:37 [Message] fib_1618 -> Chat: no Tracca
2011-12-08 16:57:51 [Message] fib_1618 -> Chat: a Summation Failure MUST find support at the zero line
2011-12-08 16:57:59 [Message] fib_1618 -> Chat: remember we had two bearish scenarios here 3 weeks ago
2011-12-08 16:58:17 [Message] fib_1618 -> Chat: we had the first one where we move down and through the zero line without hesitation
2011-12-08 16:58:25 [Message] fib_1618 -> Chat: bounce higher to snapback to the zero line
2011-12-08 16:58:34 [Message] fib_1618 -> Chat: and then purge the system into our price lows
2011-12-08 16:58:36 [Message] fib_1618 -> Chat: now...
2011-12-08 16:58:49 [Message] fib_1618 -> Chat: this was looking like the preferred method up until....
2011-12-08 16:59:01 [Message] fib_1618 -> Chat: yes...the "announcement"
2011-12-08 16:59:32 [Message] fib_1618 -> Chat: the other more bearish outcome would had been finding zero line support (by any means necessary)
2011-12-08 16:59:53 [Message] fib_1618 -> Chat: fail to re-establish the trend by moving back above the +250 level on the MCSUM
2011-12-08 17:00:08 [Message] fib_1618 -> Chat: and then fall back to the zero line in the matter just described
2011-12-08 17:00:25 [Message] fib_1618 -> Chat: it is always better to purge as quickly as possible
2011-12-08 17:01:01 [Message] fib_1618 -> Chat: because markets don't find a price bottom until all of the willing AND unwilling sellers have moved out of the market
2011-12-08 17:01:08 [Message] fib_1618 -> Chat: stopping at the zero line
2011-12-08 17:01:12 [Message] fib_1618 -> Chat: allows balance
2011-12-08 17:01:15 [Message] fib_1618 -> Chat: no fear
2011-12-08 17:01:20 [Message] fib_1618 -> Chat: and gives hope of renewal
2011-12-08 17:01:31 [Message] fib_1618 -> Chat: the willing are the drivers
2011-12-08 17:01:36 [Message] fib_1618 -> Chat: the unwilling are the passengers
2011-12-08 17:01:51 [Message] fib_1618 -> Chat: if the unwilling sellers don't given up their positions
2011-12-08 17:02:13 [Message] fib_1618 -> Chat: then we know there is going be lower price levels coming just so they can feel squeezed in doing so
2011-12-08 17:02:18 [Message] fib_1618 -> Chat: "slope of hope"
2011-12-08 17:02:38 [Message] fib_1618 -> Chat: the word "capitulation" is the key here
2011-12-08 17:02:48 [Message] fib_1618 -> Chat: and until that happens
2011-12-08 17:03:16 [Message] fib_1618 -> Chat: the market won't find a base from where it can build a new foundation to move against the bear market default
2011-12-08 17:03:34 [Message] fib_1618 -> Chat: so instead of helping with the "announcement"
2011-12-08 17:03:55 [Message] fib_1618 -> Chat: the "announcement" not only delayed the inevitable as indicated by money flow
2011-12-08 17:04:05 [Message] fib_1618 -> Chat: but it made matters worse by giving traders false hope
2011-12-08 17:04:15 [Message] fib_1618 -> Chat: and false hope always leads to panic
2011-12-08 17:04:21 [Message] fib_1618 -> Chat: and panic can lead to "crash like" events
2011-12-08 17:04:48 [Message] fib_1618 -> Chat: we talked a bit about this last week
2011-12-08 17:05:07 [Message] fib_1618 -> Chat: noting how many people who have been wrong for so long all of sudden gained focus
2011-12-08 17:05:22 [Message] fib_1618 -> Chat: that we were going to move to new highs now on the back of the "announcement"
2011-12-08 17:05:27 [Message] fib_1618 -> Chat: don't fight what you can't control
2011-12-08 17:05:31 [Message] fib_1618 -> Chat: blah blah blah...
2011-12-08 17:05:37 [Message] fib_1618 -> Chat: this is called merchandising
2011-12-08 17:05:41 [Message] fib_1618 -> Chat: look at today
2011-12-08 17:05:52 [Message] fib_1618 -> Chat: breadth was 7:1 negative at 15:00
2011-12-08 17:05:59 [Message] fib_1618 -> Chat: and the Dow was down 190 points
2011-12-08 17:06:04 [Message] fib_1618 -> Chat: all of sudden
2011-12-08 17:06:19 [Message] fib_1618 -> Chat: buying came in and brought the Dow back to a -90 reading
2011-12-08 17:06:27 [Message] fib_1618 -> Chat: all in less than 15 minutes
2011-12-08 17:06:54 [Message] fib_1618 -> Chat: and since we have seen the market sell off intraday for the last couple of days and find itself
2011-12-08 17:07:15 [Message] fib_1618 -> Chat: there were many who decided that since we didn't break horizontal support on the hourly chart
2011-12-08 17:07:20 [Message] fib_1618 -> Chat: that it was time to move long
2011-12-08 17:07:30 [Message] fib_1618 -> Chat: and that looked real good until 15:20
2011-12-08 17:07:55 [Message] fib_1618 -> Chat: when the news broke that the Germans failing to pass the EU brokered draft
2011-12-08 17:08:02 [Message] fib_1618 -> Chat: and down we went
2011-12-08 17:08:13 [Message] fib_1618 -> Chat: in less than 3 minutes
2011-12-08 17:08:20 [Message] fib_1618 -> Chat: we were down 100 points
2011-12-08 17:08:29 [Message] fib_1618 -> Chat: what was breadth doing?
2011-12-08 17:08:41 [Message] fib_1618 -> Chat: went from 7:1 negative to 6:1 negative
2011-12-08 17:09:07 [Message] fib_1618 -> Chat: not something that would instill courage to many technicians
2011-12-08 17:09:41 [Message] thespookyone -> Chat: harder to get 17 countries to agree than 50 states, eh?
2011-12-08 17:09:45 [Message] fib_1618 -> Chat: anyway...my feel here in the office after watching this run up after 15:00 was that it was a trap of some kind
2011-12-08 17:09:55 [Message] fib_1618 -> Chat: little did I know how big a trap it was
2011-12-08 17:10:04 [Message] fib_1618 -> Chat: well..yea
2011-12-08 17:10:12 [Message] fib_1618 -> Chat: since the 17 ARE countries
2011-12-08 17:10:15 [Message] fib_1618 -> Chat: and not states!
2011-12-08 17:10:40 [Message] EricD -> Chat: These levels for a summation failure - zero and +250 - refer to which MCSUM?
2011-12-08 17:10:45 [Message] fib_1618 -> Chat: this has all been manufactured by news events
2011-12-08 17:10:59 [Message] fib_1618 -> Chat: that should give everyone caution based on that alone
2011-12-08 17:11:11 [Message] fib_1618 -> Chat: The 250 multiple levels on the MCSUM is generally consistent for all of the indices Eric
2011-12-08 17:11:17 [Message] fib_1618 -> Chat: but I brought this up based more on our review of the volume MCSUM's, so let's do that
2011-12-08 17:11:41 [Message] fib_1618 -> Chat: looking at the CO NYSE volume MCSUM
2011-12-08 17:11:52 [Message] fib_1618 -> Chat: now here we did slightly move below the zero line here
2011-12-08 17:12:04 [Message] fib_1618 -> Chat: before we saw the run up of the last week
2011-12-08 17:12:26 [Message] fib_1618 -> Chat: not exactly within the strict guidelines of a potential failure pattern
2011-12-08 17:12:29 [Message] fib_1618 -> Chat: but then again
2011-12-08 17:12:42 [Message] fib_1618 -> Chat: much of this is based on the broadest indication of market activity
2011-12-08 17:12:47 [Message] fib_1618 -> Chat: so let's see how the composite looks
2011-12-08 17:13:12 [Message] fib_1618 -> Chat: now here you see an almost perfect Summation Failure pattern in motion
2011-12-08 17:13:26 [Message] tracca -> Chat: Yes, I can see
2011-12-08 17:13:35 [Message] fib_1618 -> Chat: the main problem for the bulls here are now two fold
2011-12-08 17:13:59 [Message] fib_1618 -> Chat: first is that we moved above the declining tops of this MCSUM with the October - November period
2011-12-08 17:14:06 [Message] fib_1618 -> Chat: as we talked about at that time
2011-12-08 17:14:22 [Message] fib_1618 -> Chat: this is a usual occurrence when we get to the end of a bull market sequence
2011-12-08 17:14:41 [Message] fib_1618 -> Chat: this last move is when all of the unwilling buyers move into the market for one reason or the other
2011-12-08 17:15:19 [Message] fib_1618 -> Chat: primarily because they believe that breaking above this same line of declining tops is something of a new sequence getting started
2011-12-08 17:15:27 [Message] fib_1618 -> Chat: so they tend to plow into the market on the upside break
2011-12-08 17:15:46 [Message] fib_1618 -> Chat: this, of course, was one of our focuses during this same run up
2011-12-08 17:15:53 [Message] fib_1618 -> Chat: we had the declining tops line
2011-12-08 17:16:15 [Message] fib_1618 -> Chat: we also had the rally failure highs of last July that we were working with that needed to be taken out
2011-12-08 17:16:24 [Message] fib_1618 -> Chat: and both of these were broken
2011-12-08 17:16:29 [Message] fib_1618 -> Chat: no problem so far
2011-12-08 17:16:52 [Message] fib_1618 -> Chat: but the third and most important ingredient we needed to see was to see new 52 week highs in the MCSUM
2011-12-08 17:17:01 [Message] fib_1618 -> Chat: and with the exception of the OEX and Dow, we didn't see that
2011-12-08 17:17:23 [Message] fib_1618 -> Chat: and when we started to see a deceleration in the postings of the MCSUM
2011-12-08 17:17:42 [Message] fib_1618 -> Chat: it was then that I thought it would be prudent to discuss this bull market termination pattern
2011-12-08 17:17:53 [Message] fib_1618 -> Chat: and less than a week later
2011-12-08 17:17:55 [Message] fib_1618 -> Chat: we topped
2011-12-08 17:17:58 [Message] fib_1618 -> Chat: and so far
2011-12-08 17:18:18 [Message] fib_1618 -> Chat: we didn't find support at the usual 250 areas
2011-12-08 17:18:24 [Message] fib_1618 -> Chat: and now..
2011-12-08 17:18:32 [Message] fib_1618 -> Chat: we are in a position to where
2011-12-08 17:18:48 [Message] fib_1618 -> Chat: since there are very little takers out there as to bidding prices higher
2011-12-08 17:19:24 [Message] fib_1618 -> Chat: the market will naturally move lower until it does find that level in which bidding will once again be seen to overwhelm any selling that might be present
2011-12-08 17:19:41 [Message] fib_1618 -> Chat: so back to the NYSE volume MCSUM
2011-12-08 17:19:53 [Message] fib_1618 -> Chat: now...the trigger of the Summation Failure is when we move down and through the zero line
2011-12-08 17:20:00 [Message] fib_1618 -> Chat: at this point
2011-12-08 17:20:10 [Message] fib_1618 -> Chat: the bulls still have a chance to find support here
2011-12-08 17:20:19 [Message] fib_1618 -> Chat: so we can't go "all in" here
2011-12-08 17:20:49 [Message] fib_1618 -> Chat: and why this continuing theme of "discipline" has been the mantra here in the chat room for a little over a month
2011-12-08 17:20:58 [Message] fib_1618 -> Chat: these patterns are a process
2011-12-08 17:21:24 [Message] fib_1618 -> Chat: we, as analysts, can anticipate what can and will happen based on our history with indicators and such
2011-12-08 17:21:41 [Message] fib_1618 -> Chat: but the trigger point must be reached before one can really act on these same patterns
2011-12-08 17:21:48 [Message] fib_1618 -> Chat: sort of like breaking a trend line
2011-12-08 17:22:05 [Message] fib_1618 -> Chat: if you do it with higher than average volume, you have a trigger
2011-12-08 17:22:33 [Message] fib_1618 -> Chat: if the volume is below average, no matter if the trend line is broken, it still needs the conviction of opinion to make it happen
2011-12-08 17:22:57 [Message] fib_1618 -> Chat: now...with a current reading of +120
2011-12-08 17:23:19 [Message] fib_1618 -> Chat: and the NYSE volume MCO at a reading of -20
2011-12-08 17:23:48 [Message] fib_1618 -> Chat: it's going to take 3 trading days before we see a trigger point here IF we continue to unwind as is the anticipation of such technical structures
2011-12-08 17:24:04 [Message] fib_1618 -> Chat: now...that's minimally speaking
2011-12-08 17:24:21 [Message] fib_1618 -> Chat: but technically we should snapback to the zero line on Friday first
2011-12-08 17:24:33 [Message] fib_1618 -> Chat: so that would extend the time to 4 trading days
2011-12-08 17:24:47 [Message] fib_1618 -> Chat: and 4 trading days is smack dab right at December OPEX
2011-12-08 17:24:54 [Message] fib_1618 -> Chat: again
2011-12-08 17:25:00 [Message] fib_1618 -> Chat: we're dealing with physics here
2011-12-08 17:25:19 [Message] fib_1618 -> Chat: we're dealing with what the market can do based on its inherent rhythm
2011-12-08 17:25:34 [Message] fib_1618 -> Chat: this rhythm is now broken to the upside
2011-12-08 17:25:49 [Message] fib_1618 -> Chat: and the pendulum is now heading back to the other side
2011-12-08 17:25:59 [Message] fib_1618 -> Chat: we see this every day in life
2011-12-08 17:26:16 [Message] fib_1618 -> Chat: and this is really the best way to lay out a blueprint
2011-12-08 17:26:40 [Message] fib_1618 -> Chat: so...we have the potential here of a Summation Failure on the NYSE volume MCSUM
2011-12-08 17:26:54 [Message] fib_1618 -> Chat: let's see what the sub index' show
2011-12-08 17:27:20 [Message] fib_1618 -> Chat: the NASDAQ volume MCSUM is more lethargic than it is showing failure to perform
2011-12-08 17:28:16 [Message] fib_1618 -> Chat: but it did find support in and around its zero line before attempting to re-establish a challenge of the yearly highs that this MCO suggested would happen back in late October
2011-12-08 17:28:29 [Message] fib_1618 -> Chat: but here we have other information to look at that can help us here
2011-12-08 17:28:47 [Message] fib_1618 -> Chat: how high was the NASDAQ volume MCSUM able to go to before it reached a peak?
2011-12-08 17:29:11 [Message] fib_1618 -> Chat: was it able to move above the level that would provide "escape velocity"?
2011-12-08 17:29:26 [Message] fib_1618 -> Chat: and the answer to that is...only minimally so
2011-12-08 17:29:48 [Message] fib_1618 -> Chat: but it showed nothing in the way of attempting to break free above same level (+500)
2011-12-08 17:29:55 [Message] fib_1618 -> Chat: it just moved sideways
2011-12-08 17:30:05 [Message] fib_1618 -> Chat: waiting and hoping for new fuel to arrive to help it on its journey
2011-12-08 17:30:08 [Message] fib_1618 -> Chat: but it didn't get it
2011-12-08 17:30:41 [Message] fib_1618 -> Chat: and now we have close to nothing happening by the buyers when both sides are being equal in strength
2011-12-08 17:30:48 [Message] fib_1618 -> Chat: what does that tell us?
2011-12-08 17:31:15 [Message] fib_1618 -> Chat: well...it tells us that there is very little interest in bidding prices higher in anticipation of higher earnings moving forward
2011-12-08 17:31:39 [Message] fib_1618 -> Chat: and the best thing that will happen is that we continue to move net sideways
2011-12-08 17:31:44 [Message] fib_1618 -> Chat: but if we break down here
2011-12-08 17:31:52 [Message] fib_1618 -> Chat: and selling starts to pick up
2011-12-08 17:32:05 [Message] fib_1618 -> Chat: there's not going to be any buyers to help support prices, is there?
2011-12-08 17:32:15 [Message] fib_1618 -> Chat: and down we go
2011-12-08 17:32:32 [Message] fib_1618 -> Chat: until we do find a level in which buyers can help buoy prices again
2011-12-08 17:32:39 [Message] fib_1618 -> Chat: supply and demand
2011-12-08 17:32:42 [Message] fib_1618 -> Chat: that's all this is
2011-12-08 17:32:50 [Message] fib_1618 -> Chat: no demand
2011-12-08 17:32:59 [Message] fib_1618 -> Chat: and the supply increases
2011-12-08 17:33:02 [Message] fib_1618 -> Chat: more supply
2011-12-08 17:33:11 [Message] fib_1618 -> Chat: the cheaper the paper becomes
2011-12-08 17:33:34 [Message] fib_1618 -> Chat: moving to the NDX volume MCSUM
2011-12-08 17:33:55 [Message] fib_1618 -> Chat: and that hesitation pattern we commented on Tuesday has now broken free to the downside
2011-12-08 17:34:02 [Message] fib_1618 -> Chat: in what looks like a water fall
2011-12-08 17:34:31 [Message] fib_1618 -> Chat: and unless we see the bulls step up here on Friday
2011-12-08 17:34:45 [Message] fib_1618 -> Chat: we're going to move down and through the zero line tomorrow
2011-12-08 17:35:03 [Message] fib_1618 -> Chat: and the balance will shift to the sellers on an intermediate term basis
2011-12-08 17:35:19 [Message] fib_1618 -> Chat: remember something pretty important here
2011-12-08 17:35:49 [Message] fib_1618 -> Chat: breadth, liquidity, is great if you have a boat and want to go sailing
2011-12-08 17:36:07 [Message] fib_1618 -> Chat: but without volume steering you, you will move with the tides
2011-12-08 17:36:16 [Message] fib_1618 -> Chat: and if the tides are going out
2011-12-08 17:36:18 [Message] fib_1618 -> Chat: you will too
2011-12-08 17:36:59 [Message] fib_1618 -> Chat: without volume, prices have no control
2011-12-08 17:37:50 [Message] fib_1618 -> Chat: hopefully this is making sense, if not, ask away
2011-12-08 17:38:08 [Message] fib_1618 -> Chat: moving to the SPX volume MCSUM
2011-12-08 17:38:17 [Message] fib_1618 -> Chat: and here we have the potential of a Summation Failure
2011-12-08 17:38:27 [Message] fib_1618 -> Chat: again...a very clean example of the concept
2011-12-08 17:38:54 [Message] fib_1618 -> Chat: as it missed by "this much" from turning a bearish situation into a very bullish one
2011-12-08 17:39:51 [Message] fib_1618 -> Chat: I still get goose bumps when I see how something that looks so random, like the MCSUM, actually knows when to bounce and where on a graph that has numbers applied to it
2011-12-08 17:40:37 [Message] fib_1618 -> Chat: if there's a great example of how there is order in what seems to be chaotic, just show any doubters charts like this
2011-12-08 17:41:05 [Message] tracca -> Chat: and this happens despite market manipulations
2011-12-08 17:41:12 [Message] fib_1618 -> Chat: another perfect looking Summation Failure structure as well on the OEX volume MCSUM
2011-12-08 17:41:42 [Message] fib_1618 -> Chat: manipulations are just excuses for those who don't understand that the market is larger and more complex than anything or anyone on the planet
2011-12-08 17:42:20 [Message] fib_1618 -> Chat: it presents a visual way to see how the human animal moves from opinion to opinion
2011-12-08 17:42:34 [Message] fib_1618 -> Chat: and does so without any help from no one
2011-12-08 17:42:51 [Message] fib_1618 -> Chat: yes, there can be interventions as we've talked about before
2011-12-08 17:43:07 [Message] fib_1618 -> Chat: but this mass of opinion will always win out in the end
2011-12-08 17:43:16 [Message] fib_1618 -> Chat: and...even more fascinating
2011-12-08 17:43:27 [Message] fib_1618 -> Chat: it's more times than not "predictable"
2011-12-08 17:43:40 [Message] fib_1618 -> Chat: don't ask me how it works
2011-12-08 17:43:42 [Message] fib_1618 -> Chat: it just does
2011-12-08 17:43:52 [Message] fib_1618 -> Chat: if it didn't
2011-12-08 17:44:05 [Message] fib_1618 -> Chat: then these chats would be a waste of your time and money
2011-12-08 17:44:07 [Message] fib_1618 -> Chat: and they're not
2011-12-08 17:44:15 [Message] fib_1618 -> Chat: (at least I hope not )
2011-12-08 17:44:31 [Message] fib_1618 -> Chat: and the great thing about this
2011-12-08 17:44:41 [Message] fib_1618 -> Chat: is that it works with all markets
2011-12-08 17:44:55 [Message] fib_1618 -> Chat: even if we weren't joined at the hip as we are today globally
2011-12-08 17:45:08 [Message] fib_1618 -> Chat: it is the markets participants that dictate price
2011-12-08 17:45:35 [Message] fib_1618 -> Chat: all we do in here is watch this flow of this same participation factor and attempt to put a likely outcome with all things being equal
2011-12-08 17:45:47 [Message] fib_1618 -> Chat: the problems today is that we receive just too much information
2011-12-08 17:46:05 [Message] fib_1618 -> Chat: and it tends to break our focus
2011-12-08 17:47:04 [Message] fib_1618 -> Chat: this is why it's always suggested that every weekend that we look at the market with a birds eye view to remind ourselves not only where we've been, but where were likely go given the underlying strength or weakness given by these shifts in mass opinion
2011-12-08 17:47:25 [Message] fib_1618 -> Chat: this is a day to day thing
2011-12-08 17:47:59 [Message] fib_1618 -> Chat: only because we, as humans, are both emotional and fickle when it comes to our money
2011-12-08 17:48:27 [Message] fib_1618 -> Chat: rarely are there times when one can say: impossible, can't happen
2011-12-08 17:48:46 [Message] fib_1618 -> Chat: but it does take place from time to time all depending on the flow of funds
2011-12-08 17:48:52 [Message] fib_1618 -> Chat: anyway...let's back to the charts
2011-12-08 17:49:17 [Message] fib_1618 -> Chat: we have another potential of a Summation Failure on the Dow volume MCSUM
2011-12-08 17:49:31 [Message] fib_1618 -> Chat: and as a reminder here
2011-12-08 17:50:01 [Message] fib_1618 -> Chat: what needs to happen is that we must see the MCSUM's move above the +250 level to negate these same potentials for severe damage
2011-12-08 17:50:24 [Message] fib_1618 -> Chat: so...if the bulls can come to the tables with a large pile of chips...great
2011-12-08 17:50:51 [Message] fib_1618 -> Chat: we escape the potential of this same damaging effect that these structures cause
2011-12-08 17:51:02 [Message] fib_1618 -> Chat: but until "proven otherwise" we have to go with what we have to work with
2011-12-08 17:51:21 [Message] fib_1618 -> Chat: the MID volume MCSUM found its resistance on a snapback to the zero line
2011-12-08 17:51:47 [Message] fib_1618 -> Chat: this also has the potential of being dangerous for pretty obvious reasons
2011-12-08 17:51:55 [Message] fib_1618 -> Chat: keeping in mind what the MCSUM measures
2011-12-08 17:52:12 [Message] fib_1618 -> Chat: that of two EMA's - the 19 day and 39 day - and their distance from each other
2011-12-08 17:52:18 [Message] fib_1618 -> Chat: and since we're below the zero line
2011-12-08 17:52:25 [Message] fib_1618 -> Chat: we know that the 19 day is below the 39
2011-12-08 17:52:35 [Message] fib_1618 -> Chat: and since we couldn't move back above zero
2011-12-08 17:52:50 [Message] fib_1618 -> Chat: the 19 day EMA found resistance at the 39 day EMA
2011-12-08 17:52:58 [Message] fib_1618 -> Chat: now if you take that to any price chart
2011-12-08 17:53:07 [Message] fib_1618 -> Chat: is something like this bullish or bearish behavior?
2011-12-08 17:53:18 [Message] fib_1618 -> Chat: and that's the key here
2011-12-08 17:53:22 [Message] fib_1618 -> Chat: consistency
2011-12-08 17:53:56 [Message] fib_1618 -> Chat: we know as technicians that the better the test and success, the better the outcome of the pattern in one direction
2011-12-08 17:54:05 [Message] fib_1618 -> Chat: but the same hold true to any failures as well
2011-12-08 17:54:31 [Message] fib_1618 -> Chat: this is why we use moving averages and oscillators to measure these same successes and failures
2011-12-08 17:54:42 [Message] fib_1618 -> Chat: no different here
2011-12-08 17:55:04 [Message] fib_1618 -> Chat: pretty much the same situation here with the SML volume MCSUM
2011-12-08 17:55:12 [Message] fib_1618 -> Chat: and what we can also deduce by these charts as well
2011-12-08 17:55:48 [Message] fib_1618 -> Chat: is that any money that did come into the market with last weeks "announcement" did shy away from the MID and SML group of stocks and into the high caps
2011-12-08 17:55:53 [Message] fib_1618 -> Chat: because...
2011-12-08 17:56:34 [Message] fib_1618 -> Chat: the MID and SML did move down and through their zero lines...while the large caps found their support at this same zero line
2011-12-08 17:56:49 [Message] fib_1618 -> Chat: coincidentally (or not) with the "announcement" no less
2011-12-08 17:56:55 [Message] fib_1618 -> Chat: imagine that
2011-12-08 17:57:12 [Message] fib_1618 -> Chat: total market wise
2011-12-08 17:57:29 [Message] fib_1618 -> Chat: we have a rather weak looking Summation Failure pattern in play here as well
2011-12-08 17:57:43 [Message] fib_1618 -> Chat: a combination of large caps holding the pattern above zero
2011-12-08 17:58:03 [Message] fib_1618 -> Chat: and everything else dragging its climb off this same line of neutrality
2011-12-08 17:58:32 [Message] fib_1618 -> Chat: CVI's are close to "oversold"
2011-12-08 17:58:36 [Message] fib_1618 -> Chat: but not quite there
2011-12-08 17:58:52 [Message] fib_1618 -> Chat: STVO's are trying to work off their "overbought" status from Tuesday
2011-12-08 17:59:13 [Message] fib_1618 -> Chat: and with the exception of the Dow VTO
2011-12-08 17:59:22 [Message] fib_1618 -> Chat: the others are pretty much neutral here
2011-12-08 17:59:41 [Message] fib_1618 -> Chat: with the Dow VTO pretty much "overbought" here
2011-12-08 17:59:53 [Message] fib_1618 -> Chat: and since it's trailing the downside unwinding here
2011-12-08 18:00:13 [Message] fib_1618 -> Chat: we should expect the Dow to play catch up on any continued weakness going into next week
2011-12-08 18:00:22 [Message] fib_1618 -> Chat: wow
2011-12-08 18:00:26 [Message] fib_1618 -> Chat: NYSE TRIN at 5.20!
2011-12-08 18:00:35 [Message] fib_1618 -> Chat: Open 10 at .77
2011-12-08 18:00:39 [Message] fib_1618 -> Chat:
2011-12-08 18:00:47 [Message] fib_1618 -> Chat: not a good omen
2011-12-08 18:00:54 [Message] fib_1618 -> Chat: when you get a high TRIN reading like this, and the Open 10 is STILL "overbought"...not a good thing
2011-12-08 18:01:23 [Message] fib_1618 -> Chat: and look at the lack of texture in the NYSE Open 10
2011-12-08 18:01:35 [Message] fib_1618 -> Chat: like a tsunami money came rushing in
2011-12-08 18:01:43 [Message] fib_1618 -> Chat: and you can be sure that once it goes out again
2011-12-08 18:01:57 [Message] fib_1618 -> Chat: it's likely to leave a lot of destruction behind
2011-12-08 18:02:10 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.08
2011-12-08 18:02:23 [Message] fib_1618 -> Chat: Open 10 at .80
2011-12-08 18:02:35 [Message] fib_1618 -> Chat: technically "overbought"
2011-12-08 18:02:40 [Message] fib_1618 -> Chat: this is not good
2011-12-08 18:02:52 [Message] fib_1618 -> Chat: TM TRIN at 1.61
2011-12-08 18:03:02 [Message] fib_1618 -> Chat: Open 10 at .82
2011-12-08 18:03:12 [Message] fib_1618 -> Chat: so...
2011-12-08 18:03:24 [Message] fib_1618 -> Chat: the best recommendation remains to be defensive here
2011-12-08 18:03:45 [Message] fib_1618 -> Chat: and hope that it doesn't turn into something more dire
2011-12-08 18:04:04 [Message] fib_1618 -> Chat: but for right now...the bears have all the control
2011-12-08 18:04:18 [Message] fib_1618 -> Chat: the bulls had their chance twice and couldn't perform
2011-12-08 18:04:24 [Message] fib_1618 -> Chat: so...we'll see how it goes
2011-12-08 18:04:28 [Message] fib_1618 -> Chat: anything else?
2011-12-08 18:04:49 [Message] thespookyone -> Chat: oil looks double toppy to me-and gold could get in trouble here, as well-not to mention silver
2011-12-08 18:05:07 [Message] fib_1618 -> Chat: nothing has changed as yet on gold
2011-12-08 18:05:18 [Message] fib_1618 -> Chat: still looking at a symmetrical triangle there
2011-12-08 18:05:21 [Message] fib_1618 -> Chat: what could happen
2011-12-08 18:05:28 [Message] fib_1618 -> Chat: at least an outside chance
2011-12-08 18:05:33 [Message] fib_1618 -> Chat: if the Euro collapses
2011-12-08 18:05:38 [Message] fib_1618 -> Chat: and drives the Dollar higher
2011-12-08 18:05:52 [Message] fib_1618 -> Chat: there could be a run on gold with the idea that no currency is safe
2011-12-08 18:06:12 [Message] fib_1618 -> Chat: especially if this triangle on daily gold is a 4th wave of one degree or the other
2011-12-08 18:06:34 [Message] fib_1618 -> Chat: a panic 5th wave blow off would then be a reasonable expectation
2011-12-08 18:06:56 [Message] fib_1618 -> Chat: this is all uncharted waters folks
2011-12-08 18:07:07 [Message] fib_1618 -> Chat: to think otherwise just isn't being realistic
2011-12-08 18:07:23 [Message] fib_1618 -> Chat: but at least we have the technicals to help guide us through the muck
2011-12-08 18:07:44 [Message] fib_1618 -> Chat: just be disciplined here
2011-12-08 18:07:55 [Message] fib_1618 -> Chat: with capital preservation being the key
2011-12-08 18:08:06 [Message] fib_1618 -> Chat: appreciation will be easier once we start to trend
2011-12-08 18:08:25 [Message] fib_1618 -> Chat: nothing else?
2011-12-08 18:08:38 [Message] tracca -> Chat: Thank you very much Fib.
2011-12-08 18:08:40 [Message] fib_1618 -> Chat: oh..I am making more and more posts on the TW Facebook page
2011-12-08 18:08:46 [Message] thespookyone -> Chat: yes, thx!
2011-12-08 18:08:52 [Message] fib_1618 -> Chat: which is connected to the TW Twitter page
2011-12-08 18:09:11 [Message] fib_1618 -> Chat: if you use either one...I'll be making comments there between chats
2011-12-08 18:09:35 [Message] thespookyone -> Chat: when you take over DP=can I be the Swenlin's daughter character? LOL
2011-12-08 18:09:44 [Message] fib_1618 -> Chat: this way we can also communicate during the day if you so desire
2011-12-08 18:09:48 [Message] fib_1618 -> Chat: lol
2011-12-08 18:10:12 [Message] fib_1618 -> Chat: I probably should had taken up Carl's offer 10 years ago, huh?
2011-12-08 18:10:21 [Message] thespookyone -> Chat: oh yea!
2011-12-08 18:10:29 [Message] fib_1618 -> Chat: OK...I"m going to get going
2011-12-08 18:10:32 [Message] EricD -> Chat: thanks Dave
2011-12-08 18:10:33 [Message] fib_1618 -> Chat: everyone have a great weekend
2011-12-08 18:10:38 [Message] fib_1618 -> Chat: and we'll chat again on Tuesday'
2011-12-08 18:10:40 [Message] fib_1618 -> Chat: good night


__________________
Dave's LinkedIn Profile

Technical Watch Twitter Page

Technical Watch Facebook Page

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

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

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

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

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

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

0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:






Copyright 2000-2017 Technical Watch