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Posts: 5,158
Reply with quote  #1 
2015-12-08 16:00:11 fib1618: good day
2015-12-08 16:00:15 fib1618: how is everyone?
2015-12-08 16:00:27 rite01: good here
2015-12-08 16:00:31 rite01: and you
2015-12-08 16:00:57 fib1618: doing fine
2015-12-08 16:01:02 fib1618: thanks for asking
2015-12-08 16:01:25 rite01: Well, good but missed a couple great trades
2015-12-08 16:01:50 fib1618: in what area?
2015-12-08 16:02:34 rite01: Your Friday up day call and XLE short call reason
2015-12-08 16:02:56 fib1618: you'll get 'em next time
2015-12-08 16:03:05 rite01: not able to watch market intraday like I used too
2015-12-08 16:03:17 fib1618: well...then you shouldn't kick yourself
2015-12-08 16:03:33 fib1618: because, after all, you're more than likely looking for a trend trade these days
2015-12-08 16:03:45 fib1618: one day wonders are a pea in an ocean
2015-12-08 16:04:06 rite01: right
2015-12-08 16:04:15 thespookyone: hit the 60.25 dead on the nose [smile]
2015-12-08 16:04:21 fib1618: you gotta pick and choose your battles
2015-12-08 16:04:25 fib1618: really?
2015-12-08 16:04:26 rite01: yes I saw that....
2015-12-08 16:04:30 thespookyone: yep
2015-12-08 16:04:39 rite01: low of the day
2015-12-08 16:04:46 fib1618: damn...this technical analysis stuff actually works!
2015-12-08 16:04:51 fib1618: [smile]
2015-12-08 16:04:52 rite01: who knew
2015-12-08 16:04:53 thespookyone: bet it!
2015-12-08 16:05:18 rite01: Question
2015-12-08 16:05:32 fib1618: answer
2015-12-08 16:05:38 rite01: Ha
2015-12-08 16:05:41 fib1618: ho
2015-12-08 16:05:41 rite01: here goes
2015-12-08 16:05:44 fib1618: [smile]
2015-12-08 16:06:00 fib1618: take your time
2015-12-08 16:06:07 rite01: can you tell if the XLE going to
2015-12-08 16:06:38 rite01: rise in price before hit your projected price target
2015-12-08 16:06:51 fib1618: nope
2015-12-08 16:07:05 fib1618: price targets are given as a beginning and end
2015-12-08 16:07:23 rite01: so should have just put the trade on and set stops
2015-12-08 16:07:34 fib1618: you can have tangents as you go from one to the other
2015-12-08 16:07:40 fib1618: that's all you can do
2015-12-08 16:08:04 fib1618: to expect that a price forecast is going to be met "snap" like that is not a reasonable expectation
2015-12-08 16:08:20 thespookyone: party pooper
2015-12-08 16:08:25 fib1618: lol
2015-12-08 16:08:41 fib1618: what we do in here is find out if there is fuel enough to make it to that target or not
2015-12-08 16:08:56 fib1618: or whether it will pull up short as there isn't enough fuel to get it there
2015-12-08 16:09:05 fib1618: when you travel long distances
2015-12-08 16:09:22 fib1618: don't you pull over at rest stops and to eat?
2015-12-08 16:09:34 fib1618: of course
2015-12-08 16:09:44 fib1618: but it doesn't take away from your objective
2015-12-08 16:09:56 fib1618: same with price pattern structures
2015-12-08 16:10:06 fib1618: there's a means to the eventual end
2015-12-08 16:10:36 fib1618: and if you decided to drive straight through
2015-12-08 16:10:40 fib1618: you might get there faster
2015-12-08 16:10:49 fib1618: but you're much more exhausted
2015-12-08 16:10:57 fib1618: and then the pattern reverses (bottoms, tops)
2015-12-08 16:11:17 fib1618: the character and cadence of the market is definable
2015-12-08 16:11:26 fib1618: we just have to find out what it is
2015-12-08 16:11:41 fib1618: if the MCO moves to a +85
2015-12-08 16:11:55 fib1618: then you're likely to meet you target sooner since you're going 85 MPH
2015-12-08 16:12:31 fib1618: break it down to something in which you've known all your life but never really thought about how it works
2015-12-08 16:13:09 fib1618: a car's forward motion is predicated on both the acceleration you give it
2015-12-08 16:13:31 fib1618: the distance it will travel would then be dependent on how much fuel you have in the tank
2015-12-08 16:13:40 fib1618: the forward motion is the MCO
2015-12-08 16:13:48 fib1618: the distance traveled is the MCSUM
2015-12-08 16:14:02 fib1618: keep it simple
2015-12-08 16:14:16 rite01: OK and thanks
2015-12-08 16:14:26 fib1618: OK...let's go ahead and get SC up and see what we have to work with
2015-12-08 16:15:03 fib1618: after our expected snapback to or toward the zero line on Friday
2015-12-08 16:15:14 fib1618: the CO NYSE breadth MCO has now moved to lower
2015-12-08 16:15:37 fib1618: but still remains above the mid November lows
2015-12-08 16:15:57 fib1618: boy...I sure don't like that price structure on the NYA
2015-12-08 16:16:11 fib1618: you see how it's starting to seemingly lean to the right?
2015-12-08 16:16:53 fib1618: looks like it caught itself from falling off a cliff today
2015-12-08 16:17:08 fib1618: with an opening gap to the downside
2015-12-08 16:17:11 rite01: yes like resting on a fault line
2015-12-08 16:17:13 fib1618: and a mid range close
2015-12-08 16:17:17 fib1618: yea
2015-12-08 16:17:27 fib1618: but the pattern is sagging here
2015-12-08 16:17:46 fib1618: anyway
2015-12-08 16:17:59 fib1618: we have a reading of -56 today
2015-12-08 16:18:09 fib1618: so we could have a small bounce on Wednesday
2015-12-08 16:18:19 fib1618: but the angle of the pattern structure is not healthy
2015-12-08 16:18:28 fib1618: oh
2015-12-08 16:18:32 fib1618: just noticed
2015-12-08 16:18:45 fib1618: the NYSE CO breadth MCSUM is just about to move down and through its zero line
2015-12-08 16:18:50 fib1618: that's the reason
2015-12-08 16:19:04 fib1618: and with a +54
2015-12-08 16:19:12 fib1618: if the market churns tomorrow
2015-12-08 16:19:22 fib1618: we'll be at the zero line for Thursday's opening
2015-12-08 16:20:03 fib1618: notice also that we took out the small pullback point just after the mid November lows today
2015-12-08 16:20:26 fib1618: so that pretty much gives us high odds that the November lows will be broken on this sequence
2015-12-08 16:20:44 fib1618: I "feel" a 3rd wave down here
2015-12-08 16:20:58 fib1618: if that's the case
2015-12-08 16:21:07 fib1618: volatility will continue to pick up
2015-12-08 16:21:33 fib1618: and there likely will be a news event that will help trigger the break
2015-12-08 16:22:02 fib1618: boy...I have a bad feeling about this now
2015-12-08 16:22:20 fib1618: moving to the NYSE Composite breadth MCO
2015-12-08 16:22:36 fib1618: and after "double topping" at the +33 level last week
2015-12-08 16:22:51 fib1618: we saw a plunge down and through that zero line
2015-12-08 16:23:01 fib1618: with our Friday reflex very weak
2015-12-08 16:23:07 fib1618: before moving even lower through today
2015-12-08 16:23:27 fib1618: also broke the mid November 'blip" point today
2015-12-08 16:23:41 fib1618: and with this break
2015-12-08 16:24:05 fib1618: the NYSE Composite breadth MCSUM was able to break below the mid November lows
2015-12-08 16:24:06 fib1618: AND
2015-12-08 16:24:19 fib1618: move down and through the +250 level yesterday
2015-12-08 16:24:26 fib1618: so...minimally speaking
2015-12-08 16:24:38 fib1618: a zero line test for this MCSUM is likely
2015-12-08 16:26:13 fib1618: hey Lew
2015-12-08 16:26:18 thespookyone: yes
2015-12-08 16:26:39 fib1618: are you getting the same sinking feeling here as I am?
2015-12-08 16:26:51 thespookyone: sure am
2015-12-08 16:27:14 fib1618: I'm getting all sorts of bells sounding off here
2015-12-08 16:27:20 fib1618: and I haven't moved to the NASDAQ yet!
2015-12-08 16:28:00 fib1618: just the hard reversal from yesterday after the sharp reflex rally on Friday is concerning
2015-12-08 16:28:21 fib1618: I just don't like the position of today's price bar
2015-12-08 16:28:27 fib1618: maybe we'll close the gap
2015-12-08 16:28:32 fib1618: but I really don't know if there's enough juice to do so
2015-12-08 16:29:29 fib1618: OK
2015-12-08 16:29:49 fib1618: with today's -55 reading in the NYSE Composite
2015-12-08 16:30:00 fib1618: both the CO and the broad market are in sync here
2015-12-08 16:30:12 fib1618: that's a very good sign that we're continuing to the downside
2015-12-08 16:30:32 fib1618: moving to the NASDAQ breadth MCO
2015-12-08 16:30:50 fib1618: and here we did get a full snapback to the zero line on Friday
2015-12-08 16:31:05 fib1618: and we finished off today with a -30 reading
2015-12-08 16:31:25 fib1618: even more importantly
2015-12-08 16:31:40 fib1618: the NASDAQ breadth MCSUM moved down and through the zero line today
2015-12-08 16:32:04 fib1618: but prices held up very well in spite of control moving back to the sellers
2015-12-08 16:32:28 fib1618: unfortunately though
2015-12-08 16:32:47 fib1618: we still didn't have enough of a push to close above Monday's settlement
2015-12-08 16:32:57 fib1618: so unless the buyers come in strong in the morning
2015-12-08 16:33:14 fib1618: we're likely to see a complete retracement of today's intraday move in quick order
2015-12-08 16:33:38 fib1618: seems like it may had been a handful of weighted stocks that push things here...maybe in the NDX?
2015-12-08 16:34:02 fib1618: and that's what it looks like
2015-12-08 16:34:15 fib1618: as the NDX breadth MCO moved slightly higher today
2015-12-08 16:34:26 fib1618: with a small point change of +3
2015-12-08 16:35:12 fib1618: still looking like a double top formation in both the NDX and the NASDAQ
2015-12-08 16:35:48 fib1618: noticed that today's bounce allowed the 10% component to bounce off its zero line
2015-12-08 16:36:14 fib1618: with the individual postings on the NDX breadth MCSUM still quite congested but trending lower
2015-12-08 16:36:44 fib1618: this will be the index to watch for the next couple of days
2015-12-08 16:36:58 fib1618: for if the market collapses below the mid November lows
2015-12-08 16:37:14 fib1618: there's liable to be quite a bit of catch up going on with NDX prices
2015-12-08 16:38:03 fib1618: the SPX breadth MCO was also not able to snapback completely to its zero line last Friday
2015-12-08 16:38:25 fib1618: and it's now 2 data points above last week's low point
2015-12-08 16:38:51 fib1618: with the SPX breadth MCSUM now at the +261 level
2015-12-08 16:39:12 fib1618: unless the buyers come in with both hands on Wednesday
2015-12-08 16:39:27 fib1618: this MCSUM will also be moving down and through its +250 level
2015-12-08 16:39:45 fib1618: and that may start a snowball effect for the rest of the market
2015-12-08 16:42:30 fib1618: moving to the OEX breadth MCO
2015-12-08 16:42:39 fib1618: and it too has yet to break below last week's lows
2015-12-08 16:42:55 fib1618: though it's highly "oversold"
2015-12-08 16:43:01 fib1618: with a reading of -74
2015-12-08 16:43:18 fib1618: of greater importance
2015-12-08 16:43:27 fib1618: is that the OEX breadth MCSUM moved down and through its zero line today
2015-12-08 16:43:34 fib1618: no, sorry
2015-12-08 16:43:41 fib1618: it's still above it with a +5
2015-12-08 16:43:47 fib1618: but it will move below it tomorrow
2015-12-08 16:43:52 fib1618: and with it
2015-12-08 16:44:08 fib1618: we're likely to get a negative response in prices
2015-12-08 16:44:22 fib1618: on the flip side
2015-12-08 16:44:29 fib1618: if the buyers do belly up tomorrow
2015-12-08 16:44:46 fib1618: we could be looking at some temporary zero line support coming in
2015-12-08 16:44:59 fib1618: but it would take a robust move in the MCO to the upside to do so
2015-12-08 16:45:10 fib1618: and that doesn't look promising at this stage
2015-12-08 16:45:47 fib1618: the Dow breadth MCO is also highly "oversold" with a -80 reading
2015-12-08 16:46:11 fib1618: and with the Dow breadth MCSUM at the +288 level
2015-12-08 16:46:27 fib1618: it's a pretty good bet that we'll see this MCSUM move below the +250 level on Wednesday
2015-12-08 16:46:45 fib1618: which would put additional downside pressure in the price structure
2015-12-08 16:47:17 fib1618: textbook snapback to the zero line on Friday for the MID breadth MCO
2015-12-08 16:47:35 fib1618: and today it's resting on the -51 level
2015-12-08 16:47:41 fib1618: so a bounce here could be expected
2015-12-08 16:47:46 fib1618: but it's not assured
2015-12-08 16:48:08 fib1618: taking ruler to monitor
2015-12-08 16:48:40 fib1618: and the MID breadth MCSUM is sitting right on its rising bottoms line connecting the October and November lows
2015-12-08 16:48:42 fib1618: AND
2015-12-08 16:48:51 fib1618: we have a reading of +507
2015-12-08 16:49:23 fib1618: so it will take quite bit of fuel to break below both these levels of support at the same time
2015-12-08 16:49:27 fib1618: which usually means
2015-12-08 16:49:44 fib1618: some sort of hard break to the downside is imminent
2015-12-08 16:50:06 fib1618: the 10% Trend also moved below its zero line today
2015-12-08 16:50:22 fib1618: so, minimally, the MID is back to a corrective sequence
2015-12-08 16:50:37 fib1618: and with a +5 reading in the 5% Trend
2015-12-08 16:50:52 fib1618: here's another indication that we might get a bounce tomorrow
2015-12-08 16:51:04 fib1618: before seeing any kind of technical damage the following day
2015-12-08 16:51:11 rite01: don't understand "quite bit of fuel to break below..."
2015-12-08 16:51:35 fib1618: fuel = money
2015-12-08 16:51:41 fib1618: in this case
2015-12-08 16:51:48 fib1618: large sums of money moving out
2015-12-08 16:52:24 fib1618: boy
2015-12-08 16:52:33 fib1618: if it wasn't for the MID and SML
2015-12-08 16:52:55 fib1618: the market would be on its back side right now
2015-12-08 16:53:06 rite01: I understand now, thank you
2015-12-08 16:53:21 fib1618: the SML breadth MCO also had a classic snapback on Friday
2015-12-08 16:53:29 fib1618: before moving lower the last couple of days
2015-12-08 16:53:43 fib1618: winding up with a reading of -48
2015-12-08 16:53:52 fib1618: I'm feeling a bit better now
2015-12-08 16:54:24 fib1618: as with the other MCO's, however, the SML MCO also broke below its November blip today
2015-12-08 16:54:45 fib1618: so the market, in general, is pretty much in sync here to the downside
2015-12-08 16:54:56 fib1618: which means it's trending
2015-12-08 16:54:59 rite01: lots of ALMOST mid range bars today
2015-12-08 16:55:11 fib1618: and if its trending it's said to be impulsing
2015-12-08 16:55:15 fib1618: yes
2015-12-08 16:55:22 fib1618: we touched on that earlier
2015-12-08 16:55:34 fib1618: like the market looked over the proverbial cliff and thought better of it
2015-12-08 16:55:58 fib1618: definitely not bottoming material...but enough for a hesitation
2015-12-08 16:56:50 fib1618: the TM breadth MCO is now at the -42 level
2015-12-08 16:57:03 fib1618: after not being able to fully snapback to the zero line on Friday
2015-12-08 16:57:11 fib1618: as mentioned over the weekend
2015-12-08 16:57:49 fib1618: it's never a good sign to see the MCO's not being able to snapback fully to their zero lines after such a hard break like we had last Thursday
2015-12-08 16:58:28 fib1618: it's really a great way to see, without guessing, how weak the underlying tone of money flow is at any given time
2015-12-08 16:58:58 fib1618: and with the TM breadth MCSUM now at the +51 level
2015-12-08 16:59:13 fib1618: we are no more than 2 trading days away from a zero line challenge
2015-12-08 16:59:16 fib1618: so....
2015-12-08 16:59:43 fib1618: it would appear that we continue to be in quite a predicament right now
2015-12-08 17:00:09 fib1618: where the broad market of the NYSE is showing greater weakness than the mid caps and small caps
2015-12-08 17:00:35 fib1618: but we also have the large caps pretty much "oversold" right now
2015-12-08 17:00:52 fib1618: so we should see at least an attempt to bounce higher near term
2015-12-08 17:01:14 fib1618: but unless the buyers really pick it up here and show some backbone
2015-12-08 17:01:29 fib1618: it appears that we're setting up for "one of those days"
2015-12-08 17:01:50 fib1618: where we'll likely see a broad based heavy decline in the averages
2015-12-08 17:01:53 fib1618: now...
2015-12-08 17:01:59 fib1618: on a more positive note
2015-12-08 17:02:30 fib1618: a sharp decline would likely sort things out and reset all of the indices
2015-12-08 17:02:45 fib1618: to where we would have a better opportunity to trend higher at a later time
2015-12-08 17:02:59 fib1618: but with the MID and SML breadth MCSUM's still as high as they are
2015-12-08 17:03:28 fib1618: it wouldn't be at all surprising to see further weakness continue into next week's OPEX
2015-12-08 17:03:35 fib1618: oh!
2015-12-08 17:03:40 fib1618: which also means
2015-12-08 17:03:46 fib1618: it's WWW tomorrow
2015-12-08 17:04:00 fib1618: which is always a fun day
2015-12-08 17:04:19 fib1618: let's see what the volume end is looking
2015-12-08 17:04:46 fib1618: XLE at a critical juncture here
2015-12-08 17:04:55 fib1618: as it's 2 points above the MCO lows of August now
2015-12-08 17:05:06 fib1618: make that 1 point
2015-12-08 17:05:10 fib1618: a break of that
2015-12-08 17:05:25 fib1618: and the lower targets discussed last Thursday would kick in
2015-12-08 17:05:39 fib1618: gas here is down to $2.15 on 87
2015-12-08 17:05:49 fib1618: haven't seen that since 2009
2015-12-08 17:06:33 fib1618: so, if anything, driving "over the river and through the woods" for this holiday season will be a lot more affordable
2015-12-08 17:07:09 thespookyone: 1.69 here, we pollute, LOL
2015-12-08 17:07:20 fib1618: don't say that
2015-12-08 17:07:31 fib1618: they'll call you for carbon credits
2015-12-08 17:07:38 thespookyone: [smile]
2015-12-08 17:07:45 fib1618: 1.69...
2015-12-08 17:07:46 fib1618: wow
2015-12-08 17:07:53 fib1618: that's like stealing
2015-12-08 17:08:13 thespookyone: My wife pd 1.59 two days ago
2015-12-08 17:08:24 fib1618: la la la (hands over my ears so I can't hear you)
2015-12-08 17:08:49 fib1618: both the NYSE CO and Composite volume MCO's continue to sag lower
2015-12-08 17:09:15 fib1618: after showing very little strength with Friday's rebound
2015-12-08 17:09:19 fib1618: which tells us
2015-12-08 17:09:25 fib1618: that much of Friday's rebound was short covering
2015-12-08 17:09:42 fib1618: and the volume MCSUM's are leading breadth to the downside
2015-12-08 17:09:55 fib1618: and this is how trends are able to be maintained
2015-12-08 17:10:10 fib1618: so we know the animal we're dealing with right now
2015-12-08 17:10:18 fib1618: and it doesn't have any horns
2015-12-08 17:10:58 fib1618: the NASDAQ volume MCO moved down and through its zero line on Monday
2015-12-08 17:11:16 fib1618: but the components remain buoyant for now
2015-12-08 17:11:24 fib1618: so we'll call the pattern there corrective
2015-12-08 17:11:27 fib1618: and really
2015-12-08 17:11:39 fib1618: it's really keeping things from moving sharply to the downside for the far
2015-12-08 17:11:55 fib1618: just don't like the NYA looking as poor as it is
2015-12-08 17:12:05 fib1618: this is going to catch up sooner than later to the rest of the market
2015-12-08 17:12:16 fib1618: this also tells us
2015-12-08 17:12:31 fib1618: that liquidity is drying up now
2015-12-08 17:13:04 fib1618: as it attempted to move into areas of which it deemed undervalued (MID, SML and NASDAQ)
2015-12-08 17:13:27 fib1618: but this didn't spread out to the issues of which are the leaders when "all things go dark"
2015-12-08 17:13:33 fib1618: so you have to figure
2015-12-08 17:13:41 fib1618: that the NYA is leading the market lower here
2015-12-08 17:14:14 fib1618: in spite of any strength being seen elsewhere
2015-12-08 17:14:55 fib1618: NDX volume MCO is also showing a pattern of weakness now
2015-12-08 17:15:11 fib1618: as the NDX volume MCSUM moved below pattern support today
2015-12-08 17:15:34 fib1618: leaving behind a small fishhook structure
2015-12-08 17:15:47 fib1618: here we go...we have a lower low in the SPX volume MCO
2015-12-08 17:16:02 fib1618: which is leading breadth to the downside
2015-12-08 17:16:23 fib1618: and the SPX volume MCSUM is about to move down and through its zero line
2015-12-08 17:16:44 fib1618: you can see how it seems to be "diving" lower now on the 21 day close up chart
2015-12-08 17:17:00 fib1618: nothing positive there
2015-12-08 17:17:39 fib1618: the OEX volume MCO is also about to move down and through its zero line
2015-12-08 17:18:21 fib1618: but we remain at a higher level than mid November on the OEX volume MCO by about 15 data points
2015-12-08 17:18:45 fib1618: looks closer on the daily chart
2015-12-08 17:19:07 fib1618: and not a good day at all on the Dow volume MCO
2015-12-08 17:19:15 fib1618: as it broke below the November lows today
2015-12-08 17:19:18 fib1618: and with this break
2015-12-08 17:19:31 fib1618: the Dow volume MCSUM moved down and through the +500 level
2015-12-08 17:20:05 fib1618: keeping in mind that it was the Dow and the OEX that tipped us off to the impending reversal a week or so ago
2015-12-08 17:20:22 fib1618: we'll have to respect this break for what it may imply near term
2015-12-08 17:21:06 fib1618: classic bounce off the zero line on Friday in the MID volume MCO
2015-12-08 17:21:14 fib1618: and down and through this same line on Monday
2015-12-08 17:21:31 fib1618: tops beneath tops now control the short term pattern
2015-12-08 17:22:01 fib1618: while the MID volume MCSUM is scheduled to move down and through its zero line on Wednesday
2015-12-08 17:22:22 fib1618: with trendline support at about the -100 level
2015-12-08 17:22:32 fib1618: so after sometime on Thursday
2015-12-08 17:23:08 fib1618: negative pattern sequence on the SML volume MCO after snapping back to the zero line on Friday
2015-12-08 17:23:45 fib1618: with a -47 reading which is near natural support at -50
2015-12-08 17:23:52 fib1618: we could have a bounce here as well near term
2015-12-08 17:24:24 fib1618: and then we'll see what happens on Thursday with the likely challenge of the SML volume MCSUM zero line
2015-12-08 17:25:20 fib1618: and a break of the uptrend line from the October to November lows in the TM volume MCSUM
2015-12-08 17:25:49 fib1618: after finding resistance at just below the +190 level
2015-12-08 17:25:53 fib1618: so...
2015-12-08 17:26:08 fib1618: the market isn't exactly falling apart
2015-12-08 17:26:11 fib1618: but it is very weak
2015-12-08 17:26:36 fib1618: with the next couple of days likely to set the tone for the rest of the month
2015-12-08 17:26:58 fib1618: it's very likely that we saw our "Santa Rally" back in November
2015-12-08 17:27:21 fib1618: and that rest of December is going to be disappointing for the buyers
2015-12-08 17:27:29 fib1618: OBV's
2015-12-08 17:28:04 fib1618: pretty mixed there
2015-12-08 17:28:12 fib1618: with the NDX showing the better strength
2015-12-08 17:28:19 fib1618: and the Dow showing the weaker
2015-12-08 17:28:38 fib1618: lots of SOB patterns coming up here
2015-12-08 17:29:13 fib1618: though some are not your classic fare
2015-12-08 17:29:23 fib1618: but there a lot of double topping price patterns going on here
2015-12-08 17:29:34 fib1618: the market looks exhausted
2015-12-08 17:29:49 fib1618: NYSE TRIN at 1.37
2015-12-08 17:30:06 fib1618: Open 10 at 1.16
2015-12-08 17:30:18 fib1618: which is helping in keeping things somewhat in check near term
2015-12-08 17:30:31 fib1618: NASDAQ TRIN at .95
2015-12-08 17:30:46 fib1618: Open 10 at .94
2015-12-08 17:30:58 fib1618: TM TRIN at 1.03
2015-12-08 17:31:15 fib1618: Open 10 at .99
2015-12-08 17:31:32 fib1618: this just in
2015-12-08 17:31:44 fib1618: MS plans to cut 1200 jobs
2015-12-08 17:31:51 thespookyone: uh oh
2015-12-08 17:32:11 fib1618: there was something else too I saw in passing...let me check my phone
2015-12-08 17:33:20 fib1618: oh it's nothing
2015-12-08 17:33:26 fib1618: here's the big news story
2015-12-08 17:33:28 fib1618: ready?
2015-12-08 17:33:45 fib1618: BAC says that the SPX will be at 3500 on.....
2015-12-08 17:33:55 fib1618: 12/31/2026
2015-12-08 17:33:57 fib1618: lol
2015-12-08 17:34:06 fib1618: 10 years from now?!
2015-12-08 17:34:25 fib1618: this is something we have to know?
2015-12-08 17:34:48 fib1618: this is what people are being paid millions of dollars to provide this kind of critical information?
2015-12-08 17:34:51 fib1618: whatever
2015-12-08 17:34:55 fib1618: anyway
2015-12-08 17:35:13 fib1618: let's look for the market to try it's best to stabilize near term
2015-12-08 17:35:44 fib1618: but there's a definite feel here that we're going to break below the November lows both internally and price wise
2015-12-08 17:35:56 fib1618: so we'll have to watch how the August period holds
2015-12-08 17:35:59 fib1618: near term
2015-12-08 17:36:07 fib1618: let's watch the XLE breadth MCO
2015-12-08 17:36:16 fib1618: as it's deeply "oversold" now
2015-12-08 17:36:24 fib1618: and with any break of the August lows
2015-12-08 17:36:42 fib1618: that's going to be a heavy weight on the major indices
2015-12-08 17:36:47 fib1618: let me check the BETS
2015-12-08 17:39:06 fib1618: need two minutes...SC didn't update them on the time axis changes I made from last weekend
2015-12-08 17:42:08 fib1618: Canada looks horrible
2015-12-08 17:43:12 fib1618: NYAD line is collapsing
2015-12-08 17:43:17 fib1618: -80
2015-12-08 17:43:28 fib1618: let me count again to be sure
2015-12-08 17:44:11 fib1618: yep... -80
2015-12-08 17:44:17 fib1618: that ties the all time lows
2015-12-08 17:44:32 fib1618: anything lower is a "strong sell"
2015-12-08 17:44:44 fib1618: because of this
2015-12-08 17:44:56 fib1618: let's go back to a fully defensive posture
2015-12-08 17:45:09 fib1618: and maybe we'll get another opportunity to enter short as we did on Friday on a bounce on Wednesday
2015-12-08 17:45:13 fib1618: anything else?
2015-12-08 17:47:10 fib1618: the one thing you really don't want to be right now is long
2015-12-08 17:47:18 fib1618: market is very heavy
2015-12-08 17:48:04 fib1618: OK...if there's nothing else
2015-12-08 17:48:08 fib1618: I'm going to take off
2015-12-08 17:48:14 fib1618: everyone have a great couple of days
2015-12-08 17:48:17 hossman: Thank you Dave
2015-12-08 17:48:36 fib1618: and we'll see how things are looking (hi stranger...hope you're well!) on Thursday
2015-12-08 17:48:39 fib1618: good night

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