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fib_1618

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Posts: 4,422
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 trend...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 NYSE...so 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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"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

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