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fib_1618

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Reply with quote  #1 
2016-02-11 16:00:03 fib1618: good day
2016-02-11 16:00:06 fib1618: how is everyone?
2016-02-11 16:00:17 thespookyone: Fine, and you?
2016-02-11 16:00:26 gwaco: good
2016-02-11 16:02:15 fib1618: Lew...you there?
2016-02-11 16:02:44 thespookyone: yes
2016-02-11 16:03:35 fib1618: so much for the $1220 target...sorry about that
2016-02-11 16:03:50 thespookyone: no prob, boy did that rip!
2016-02-11 16:04:15 fib1618: Gold Sentiment - http://tinyurl.com/hhbv3sa
2016-02-11 16:04:46 fib1618: Gold, Longer Term Chart - http://tinyurl.com/gosf57m
2016-02-11 16:05:10 fib1618: OK...any questions or comments before we get started??
2016-02-11 16:05:43 fib1618: Greg...feel free to ask questions or comments during the chat
2016-02-11 16:05:45 thespookyone: nice, thanks!
2016-02-11 16:05:51 fib1618: np
2016-02-11 16:05:54 gwaco: ok
2016-02-11 16:06:51 fib1618: OK...let's get SC up then and see what we have to work with today
2016-02-11 16:07:39 fib1618: after attempting to snapback toward the zero line on Wednesday
2016-02-11 16:07:49 fib1618: the NYSE CO breadth MCO moved lower today
2016-02-11 16:08:16 fib1618: and also took out the reaction lows of the end of January in the process
2016-02-11 16:08:25 fib1618: so if the Composite agrees
2016-02-11 16:08:47 fib1618: then prices will now be able to close below this same price bar low that was created with this reaction low in the MCO
2016-02-11 16:09:06 fib1618: where it looks like we challenged that level today
2016-02-11 16:09:14 fib1618: before rallying sharply in the afternoon
2016-02-11 16:09:35 fib1618: this time on the comment from Saudi Arabia that they were "thinking about" cutting production
2016-02-11 16:09:44 fib1618: like that would have any kind of power these days
2016-02-11 16:10:27 fib1618: we also see on the 21 day close up chart of the NYSE CO breadth MCSUM that we gaped to the downside today
2016-02-11 16:10:42 fib1618: and are now coming up to our first natural support level of -1000
2016-02-11 16:11:38 fib1618: so any follow through to the downside on Friday will allow prices to break the intraday support level previously mentioned on the NYA
2016-02-11 16:12:06 fib1618: moving to the NYSE Composite breadth MCO
2016-02-11 16:12:14 fib1618: and here too we broke below the end January lows today
2016-02-11 16:12:45 fib1618: so prices will now be able to close below, and then stay below, the intraday lows of 1/20
2016-02-11 16:13:15 fib1618: on a more positive note
2016-02-11 16:13:27 fib1618: we now have better bullish divergence between price and the MCO's
2016-02-11 16:13:33 fib1618: and as long as this holds
2016-02-11 16:13:57 fib1618: we will continue to anticipate some sort of price low within the next week or so
2016-02-11 16:14:28 fib1618: though this may extend a bit longer due to our being already highly "oversold" on the MCSUM
2016-02-11 16:14:57 fib1618: at this point though
2016-02-11 16:15:09 fib1618: we have a top beneath a top now working for the sellers on the NYSE MCO's
2016-02-11 16:15:21 fib1618: so the short term trend, at least for now, remains to the downside
2016-02-11 16:16:08 fib1618: tried as it may, and tried as it might, the NASDAQ Composite Index was able to hold up within the near term trading range seen on the daily chart today
2016-02-11 16:16:30 fib1618: unfortunately, though, the NASDAQ breadth MCO did close at a lower low today
2016-02-11 16:16:31 fib1618: and with it
2016-02-11 16:16:47 fib1618: the NASDAQ breadth MCSUM was able to move down and through the -1000 level
2016-02-11 16:17:07 fib1618: which was also the lows of last month
2016-02-11 16:17:29 fib1618: so any follow through here on Friday would then allow further selling in this group of issues
2016-02-11 16:17:48 fib1618: to where the NASDAQ MCSUM will travel toward the -1250 level
2016-02-11 16:18:09 fib1618: note also how yesterday's snapback in the NASDAQ MCO
2016-02-11 16:18:37 fib1618: met the technical expectation of a simple snapback to what was late January support
2016-02-11 16:18:49 fib1618: so we remain "impulsive" to the downside
2016-02-11 16:19:02 fib1618: OK...here's a surprise
2016-02-11 16:19:21 fib1618: the NDX breadth MCO did NOT confirm the lower low in the NASDAQ MCO today
2016-02-11 16:19:41 fib1618: pulling back only slightly
2016-02-11 16:20:01 fib1618: the NDX breadth MCSUM itself continues its journey toward the -1000 level
2016-02-11 16:20:24 fib1618: but this is our first real indication that were seeing actual selling beginning to dry up in an index
2016-02-11 16:20:44 fib1618: as was our anticipation after looking over the volume MCO's on Tuesday
2016-02-11 16:21:10 fib1618: and, in fact, the price losses today were minimal
2016-02-11 16:21:14 fib1618: so...
2016-02-11 16:21:27 fib1618: if one were to pick an area of investment to short
2016-02-11 16:21:39 fib1618: one may want to shy away from this area at this time
2016-02-11 16:21:56 fib1618: not to say that the index won't decline on any further selling in the majors
2016-02-11 16:22:47 fib1618: but this "lessening effect" will tend to keep prices more buoyant in a comparable sense
2016-02-11 16:23:03 fib1618: another way to look at it...
2016-02-11 16:23:55 fib1618: that the NYA, and other indices that haven't already broken below their January lows, are more inclined to play catch up to the NDX
2016-02-11 16:24:30 fib1618: and from where we begin the process of getting everything more in sync so that a bottom can be created
2016-02-11 16:24:38 fib1618: or...to accelerate even lower
2016-02-11 16:24:43 fib1618: don't know for sure
2016-02-11 16:24:50 fib1618: we only know what we're given to work with
2016-02-11 16:25:13 fib1618: classic snapback to the zero line on Wednesday for the SPX breadth MCO
2016-02-11 16:25:23 fib1618: always fascinating how this happens, isn't it?
2016-02-11 16:25:38 fib1618: and then we moved to a lower low today
2016-02-11 16:25:42 fib1618: and in the process
2016-02-11 16:25:49 fib1618: took out the late January lows
2016-02-11 16:26:15 fib1618: mid range close today on the SPX suggests near term indecision
2016-02-11 16:26:39 fib1618: of which we'll have a better feel on things by Monday
2016-02-11 16:26:46 fib1618: moving to the OEX breadth MCO
2016-02-11 16:27:00 fib1618: and here we also had a successful zero line snapback on Wednesday
2016-02-11 16:27:09 fib1618: and the moved sharply to the downside today
2016-02-11 16:27:28 fib1618: where, again, we took out the end January lows in the MCO
2016-02-11 16:27:30 fib1618: so far then
2016-02-11 16:27:44 fib1618: unlike Tuesday where we had inconsistencies
2016-02-11 16:28:10 fib1618: today we're getting back inline again with the MCO's breaking the end January spike lows
2016-02-11 16:28:36 fib1618: also of note is the lovely rounding top formation seen in the OEX breadth MCSUM
2016-02-11 16:28:47 fib1618: suggesting that we're about to see an expansion gap to the downside
2016-02-11 16:29:13 fib1618: and on the 21 day close up chart
2016-02-11 16:29:22 fib1618: it would appear that process began today
2016-02-11 16:29:41 fib1618: so it shouldn't be too surprising to see downside follow through here as soon as Friday
2016-02-11 16:30:32 fib1618: our lone wolf from Tuesday, the Dow breadth MCO, did bounce off the zero line on Wednesday before joining the pack back below the zero line today
2016-02-11 16:30:46 fib1618: and taking the end January point out as well
2016-02-11 16:31:28 fib1618: moving to the MID breadth MCO
2016-02-11 16:31:55 fib1618: and though we did move to a lower low today after yesterday's snapback attempt to the zero line
2016-02-11 16:32:11 fib1618: we didn't take out the end January low
2016-02-11 16:32:43 fib1618: more specifically, the lows of 1/25
2016-02-11 16:33:16 fib1618: this would simply indicate that selling wasn't as prominent as it was in other areas
2016-02-11 16:33:25 fib1618: pretty much the same thing that we saw with the NDX
2016-02-11 16:33:59 fib1618: and with another mid range close price bar here too
2016-02-11 16:34:30 fib1618: so what may take place early in the day on Friday is an attempt to close any downside gaps we generated today by rallying
2016-02-11 16:34:50 fib1618: and then sharply reverse again to work against the lows of January
2016-02-11 16:35:51 fib1618: let's keep an eye on this one as it will be important that ALL of the indices get in the same position in order to "heave ho" itself against the bear market default
2016-02-11 16:36:09 fib1618: as a weak link in the chain...and it's likely to break(down)
2016-02-11 16:36:32 fib1618: although it took a bit of effort to do so
2016-02-11 16:36:44 fib1618: the SML breadth MCO broke below its end January lows today
2016-02-11 16:37:01 fib1618: but looking at the short term pattern of this MCO
2016-02-11 16:37:14 fib1618: and you can see how its been moving lower kicking and screaming
2016-02-11 16:37:28 fib1618: showing that much of the heavier selling here is behind us
2016-02-11 16:37:56 fib1618: and it will take a new, fresh push of selling to keep this ball rolling to the downside
2016-02-11 16:38:29 fib1618: and like many of the MCO's tonight
2016-02-11 16:38:42 fib1618: we had a blip higher on Wednesday with the TM breadth MCO
2016-02-11 16:38:51 fib1618: before moving to lower lows today
2016-02-11 16:39:31 fib1618: keep in mind that these attempts by the buyers to wrestle control on Wednesday will now serve as our "blip resistance" zones once the MCO patterns bottom
2016-02-11 16:39:59 fib1618: meaning that these points in the structure will need to be taken out on the upside before we can claim that a price low has been created
2016-02-11 16:40:15 fib1618: whether it's a divergent one or not is still up in the air
2016-02-11 16:40:39 fib1618: but it will be this point in the pattern that will separate what is from what could be later in the month
2016-02-11 16:40:46 fib1618: so...
2016-02-11 16:41:00 fib1618: we seem to be riding a nice cadence right now
2016-02-11 16:41:12 fib1618: where every rally is met with resistance
2016-02-11 16:41:21 fib1618: and with the MCSUM's as "oversold" as they are
2016-02-11 16:41:47 fib1618: much of these attempts by the buyers to stabilize things will usually fail as quickly as they start
2016-02-11 16:42:00 fib1618: let's see how the sectors are doing
2016-02-11 16:42:38 fib1618: the XLY chart pattern broke below the January lows on Monday
2016-02-11 16:42:52 fib1618: and are currently consolidating their losses
2016-02-11 16:42:59 fib1618: looking at the XLY breadth MCO
2016-02-11 16:43:12 fib1618: and we see that we had a snapback to the zero line on Wednesday
2016-02-11 16:43:29 fib1618: but we didn't move to a lower low today
2016-02-11 16:43:52 fib1618: this, of course, indicates that there is a lessening of selling pressure in this sector
2016-02-11 16:43:58 fib1618: and why not?
2016-02-11 16:44:04 fib1618: with interest rates as low as they are
2016-02-11 16:44:22 fib1618: purchasing big ticket items are going to be easier than they were a month ago
2016-02-11 16:44:24 fib1618: that is
2016-02-11 16:44:28 fib1618: if you have a job
2016-02-11 16:44:54 fib1618: or you have other debt obligations that need to be taken care of
2016-02-11 16:45:30 fib1618: talk picked up today on negative rates after Yellen said it's on the table
2016-02-11 16:45:37 fib1618: very concerning
2016-02-11 16:46:03 fib1618: oh well...if we can't control it, there's nothing much we can do about it
2016-02-11 16:46:26 fib1618: looking at the XLY breadth MCSUM
2016-02-11 16:46:33 fib1618: and it's near the -750 level now
2016-02-11 16:46:48 fib1618: so unless selling picks up here
2016-02-11 16:47:04 fib1618: we'll then have double bull divergence on a closing basis
2016-02-11 16:47:22 fib1618: don't like that fact that we didn't take out the large intraday price bar of August though
2016-02-11 16:47:48 fib1618: but it is what it is...have to be open to any or all possibilities
2016-02-11 16:48:31 tuna: double bull divergence?
2016-02-11 16:48:31 fib1618: got a small sell signal today in the XLP breadth MCO and its components
2016-02-11 16:48:42 fib1618: not a lot of conviction though
2016-02-11 16:48:51 fib1618: yes...divergence with the MCO and the MCSUM
2016-02-11 16:49:15 fib1618: got to hold here though for this to happen
2016-02-11 16:49:15 tuna: OK
2016-02-11 16:49:23 fib1618: problem is
2016-02-11 16:49:29 fib1618: it's sloppy on the MCO
2016-02-11 16:49:34 fib1618: at least with the last low
2016-02-11 16:49:41 fib1618: just thinking out loud
2016-02-11 16:50:01 fib1618: looking at the XLP breadth MCSUM pattern
2016-02-11 16:50:14 fib1618: and you can see the struggle its been going through on the upside
2016-02-11 16:50:50 fib1618: this would indicate that there's been buying, but it's more "defensive" than it is based on valuation
2016-02-11 16:51:30 fib1618: looks like the XLE bulls are trying desperately to hold here
2016-02-11 16:51:49 fib1618: problem is that we have already broken below the late January lows in the XLE breadth MCO
2016-02-11 16:52:08 fib1618: and with the XLE breadth MCSUM already down and through the -1000 level
2016-02-11 16:52:57 fib1618: they're going to need a whole lot more bullish takers here or we have an appointment to new price pattern lows in the index
2016-02-11 16:53:19 fib1618: checking something
2016-02-11 16:53:52 fib1618: wow
2016-02-11 16:54:00 fib1618: we're testing the October 2011 lows on the XLE
2016-02-11 16:54:43 fib1618: but the angle of descent of the current pattern sequence from the summer 2014 highs does suggest that it's not going to hold
2016-02-11 16:55:10 fib1618: next support is at $44
2016-02-11 16:55:23 fib1618: and then the lows of 2009 at $32
2016-02-11 16:55:33 fib1618: easy trade here
2016-02-11 16:55:52 fib1618: sell stop at .10 below $50
2016-02-11 16:56:16 fib1618: call it $49.80.
2016-02-11 16:56:46 tuna: can you comment on the double highs on the XLE summation
2016-02-11 16:57:07 fib1618: October/November of last year?
2016-02-11 16:57:51 tuna: Jan and Feb of this year
2016-02-11 16:58:04 tuna: at -1000
2016-02-11 16:58:07 fib1618: got it
2016-02-11 16:58:14 fib1618: the January highs are resistance
2016-02-11 16:58:23 fib1618: any break above this level and the price lows are secure for now
2016-02-11 16:58:42 fib1618: so for the MCSUM would need to turn around
2016-02-11 16:59:00 fib1618: we'll need to move above the highs of Monday
2016-02-11 16:59:08 fib1618: with an expansion gap to confirm
2016-02-11 16:59:17 fib1618: then you can accumulate
2016-02-11 16:59:21 tuna: could you consider that a hidden divergence since prices moved higher?
2016-02-11 16:59:21 fib1618: remember though
2016-02-11 16:59:39 fib1618: prices didn't
2016-02-11 16:59:52 fib1618: if you take you line of vision between the high in January and the price chart
2016-02-11 17:00:03 fib1618: we were up near $62
2016-02-11 17:00:19 fib1618: so you didn't have type 2 divergence
2016-02-11 17:00:48 tuna: it was an almost visually
2016-02-11 17:01:19 fib1618: well...you know when "almost" counts [smile]
2016-02-11 17:01:25 tuna: yep
2016-02-11 17:01:28 fib1618: now
2016-02-11 17:01:55 fib1618: let me take a moment to discuss the the MCSUM highs of October/November
2016-02-11 17:02:25 fib1618: we have talked about how the MCO tends to stay either above or below the zero line for periods of 4-6 weeks
2016-02-11 17:02:42 fib1618: when looking at the XLE MCSUM
2016-02-11 17:02:52 fib1618: it took nearly 10 weeks to peak out
2016-02-11 17:03:02 fib1618: but what's even more fascinating is several things
2016-02-11 17:03:19 fib1618: first...it bottomed just below the -1750 level
2016-02-11 17:03:32 fib1618: moved up to -1000
2016-02-11 17:03:35 fib1618: found resistance
2016-02-11 17:03:50 fib1618: regained its composure
2016-02-11 17:04:00 fib1618: and then scooted to the zero line
2016-02-11 17:04:11 fib1618: took another breath
2016-02-11 17:04:15 fib1618: snapped back to the zero line
2016-02-11 17:04:22 fib1618: and then topped out at the +250 level
2016-02-11 17:04:37 fib1618: now besides the obvious 250 increments involved here
2016-02-11 17:05:09 fib1618: it's very rare that the MCSUM will move in one direction or the other by more than 2250 data points in any single sequence
2016-02-11 17:05:31 fib1618: in this case...it covered 2000 data points
2016-02-11 17:05:38 fib1618: given both the time it took to get there
2016-02-11 17:05:47 fib1618: and the range in which it traveled
2016-02-11 17:06:15 fib1618: it wasn't likely that after the zero line test that this MCSUM was going to make it past +500
2016-02-11 17:06:31 fib1618: of which we need to see before prices can break free of the bear market default
2016-02-11 17:06:36 fib1618: it's also interesting to note
2016-02-11 17:06:47 fib1618: that like the -250 level usually supports bull market sequences
2016-02-11 17:07:05 fib1618: the +250 level provides this same resistance for bear markets
2016-02-11 17:07:11 fib1618: taken together then
2016-02-11 17:07:52 fib1618: the buyers were out of ammunition when they tried so hard to rally sharply to the upside once the zero line test was successful
2016-02-11 17:07:59 fib1618: and this produced a rally failure...an inverted Summation Failure if you will
2016-02-11 17:08:23 fib1618: from which the price structure hasn't looked back
2016-02-11 17:09:00 fib1618: these little nuances is why the McClellan tools are the absolute most important indicators in our technical bag of tricks
2016-02-11 17:09:10 fib1618: for they tell us
2016-02-11 17:09:14 fib1618: without guessing
2016-02-11 17:09:30 fib1618: not only how much capital is available to be invested
2016-02-11 17:10:30 fib1618: but it also gives us the velocity quotient that is needed to determine if this same trend in money flow will a determining factor in creating a price trend in either direction
2016-02-11 17:10:35 fib1618: up or down
2016-02-11 17:10:52 fib1618: the guidelines and rules remain consistent in this respect
2016-02-11 17:11:01 fib1618: no guessing
2016-02-11 17:11:05 fib1618: no feelings
2016-02-11 17:11:25 fib1618: price can only move in one direction or the other based on the capital in which it feeds
2016-02-11 17:12:02 fib1618: as we were warned last week
2016-02-11 17:12:12 fib1618: the XLF price chart continues to trend lower
2016-02-11 17:12:30 fib1618: with the XLF breadth MCO finding zero line resistance on Wednesday
2016-02-11 17:12:48 fib1618: and the XLF breadth MCSUM finding its troubles in negotiating back above the -1000 level
2016-02-11 17:13:11 fib1618: for the Elliottician's out there
2016-02-11 17:13:22 fib1618: you also see a textbook impulsive structure at work here
2016-02-11 17:13:26 fib1618: now in wave 5
2016-02-11 17:13:39 fib1618: unless..
2016-02-11 17:13:42 fib1618: we're extending
2016-02-11 17:14:07 fib1618: and that wouldn't be a good thing given that we're already below $20
2016-02-11 17:14:14 fib1618: at this point
2016-02-11 17:14:26 fib1618: the banks need direction from the FED on what they plan to do
2016-02-11 17:14:39 fib1618: this wishy washy stance is getting a bit annoying
2016-02-11 17:14:49 fib1618: one thing's for sure
2016-02-11 17:15:00 fib1618: no matter who gets elected this November
2016-02-11 17:15:32 fib1618: you can be sure that the who FED Board will be fired just like an owner would do to their coaches and their assistants on a sports team
2016-02-11 17:15:40 fib1618: and they know that
2016-02-11 17:16:11 fib1618: moving to the XLV breadth MCO
2016-02-11 17:16:26 fib1618: and once again the zero line provided a solid ceiling to the buyers
2016-02-11 17:17:01 fib1618: and with the downside amplitude of the XLV breadth MCSUM as negative as it is right now
2016-02-11 17:17:41 fib1618: a challenge of the $60 price level would be expected
2016-02-11 17:17:58 fib1618: keep in mind as well
2016-02-11 17:18:16 fib1618: that once the XLV breadth MCO does turn from negative to positive
2016-02-11 17:18:23 fib1618: with this triple top resistance
2016-02-11 17:18:31 fib1618: it will likely be explosive
2016-02-11 17:18:41 fib1618: probably on the back of some news event is my guess
2016-02-11 17:18:42 fib1618: we'll see
2016-02-11 17:19:29 fib1618: the XLI breadth MCO continues to hang in there nicely in spite of the negativity out there
2016-02-11 17:19:37 fib1618: having just moved down and through the zero line today
2016-02-11 17:20:02 fib1618: this, of course, is keeping both the Dow Industrials and Transports from falling apart currently
2016-02-11 17:20:20 fib1618: and presents us with an interesting juncture
2016-02-11 17:20:42 fib1618: with the XLI breadth MCSUM just 150 data points below the important -500 level
2016-02-11 17:21:11 fib1618: will bullish money flow hang on for another week as we go into OPEX
2016-02-11 17:21:52 fib1618: or will it fall under the heavy downside pressure of the broader market?
2016-02-11 17:22:19 fib1618: the XLB breadth MCO is also holding its own as well
2016-02-11 17:22:41 fib1618: so we know where money flow is supporting issues right now
2016-02-11 17:22:51 fib1618: Industrials and Materials
2016-02-11 17:23:48 fib1618: industrial probably because of multi nationals which are more defensive during times when there is indecisiveness
2016-02-11 17:23:56 fib1618: materials...maybe because of the metals
2016-02-11 17:24:24 fib1618: looking at the XLK breadth MCO
2016-02-11 17:24:35 fib1618: and now we know which sector is helping to hold up the NDX
2016-02-11 17:25:04 fib1618: as technology is attempting to hold its ground here
2016-02-11 17:25:57 fib1618: but any further follow through to the downside in this sector, as well as the XLI and XLB, and we're not likely to see intraday "saves" take place as we have over the last couple of days
2016-02-11 17:26:24 fib1618: and the XLU breadth MCO moved down and through its zero line today
2016-02-11 17:26:43 fib1618: halting the upside progress in the XLU breadth MCSUM at the +1500 level
2016-02-11 17:27:02 fib1618: for now
2016-02-11 17:27:21 fib1618: we'll call it a pause to refresh in the upside progress of the price structure
2016-02-11 17:27:32 fib1618: before we see one more rally attempt
2016-02-11 17:28:18 fib1618: and then a probable snapback to or toward the multi month breakout line at around the $45 level
2016-02-11 17:28:23 fib1618: so...
2016-02-11 17:28:41 fib1618: we now know why we keep coming up with these range days of late
2016-02-11 17:28:54 fib1618: as the sectors are a bit split on their current take
2016-02-11 17:29:15 fib1618: Energy and the Financials are weak, along with Healthcare
2016-02-11 17:29:50 fib1618: while the Industrials, Materials and Technology are trying their best in keeping things in check
2016-02-11 17:30:13 fib1618: all of this does tend to take place near the end of a pattern sequence
2016-02-11 17:30:49 fib1618: so this gives us a higher confidence reading that we're likely closer to the end than we are the beginning
2016-02-11 17:30:51 fib1618: also of note
2016-02-11 17:31:04 fib1618: I was hearing more stock market updates today on the radio
2016-02-11 17:31:29 fib1618: and with the article I posted on the message board about people panicking about stocks and gold
2016-02-11 17:31:48 fib1618: we seem to be getting closer to a price bottom of some degree
2016-02-11 17:31:54 fib1618: and we'll leave it at that for now
2016-02-11 17:32:32 fib1618: no real help on the CVI's
2016-02-11 17:32:41 fib1618: we'll call the STVO's minimally "oversold"
2016-02-11 17:33:20 fib1618: but until we get the VTO's scraping the bottom, it's not likely that this current sequence is complete
2016-02-11 17:33:47 fib1618: we want to see all three OBV's "oversold" together to solidify a bottom
2016-02-11 17:34:04 fib1618: NYSE TRIN at .99
2016-02-11 17:34:13 fib1618: Open 10 at .96
2016-02-11 17:34:26 fib1618: NASDAQ TRIN at 1.14
2016-02-11 17:34:36 fib1618: Open 10 at 1.00
2016-02-11 17:34:46 fib1618: TM TRIN at 1.01
2016-02-11 17:34:55 fib1618: Open 10 at 1.00
2016-02-11 17:35:08 fib1618: and not even close to what can call a capitulation point
2016-02-11 17:35:26 fib1618: more like people are nibbling in anticipation of a bottom
2016-02-11 17:35:41 fib1618: and this is keeping natural market forces from doing their magic in this respect
2016-02-11 17:35:46 fib1618: once this is taken away
2016-02-11 17:35:54 fib1618: then we'll have a bottom to work with
2016-02-11 17:35:58 fib1618: let me check the BETS
2016-02-11 17:36:52 fib1618: NASDAQ continues to fall apart
2016-02-11 17:36:58 fib1618: no bueno for the bulls
2016-02-11 17:37:12 fib1618: new lows in the NYAD
2016-02-11 17:37:15 fib1618: again...no bueno
2016-02-11 17:37:38 fib1618: -55
2016-02-11 17:37:49 fib1618: "hold short with a bearish bias"
2016-02-11 17:37:53 fib1618: and so we shall
2016-02-11 17:37:56 fib1618: anything else?
2016-02-11 17:38:42 fib1618: at this point
2016-02-11 17:38:50 fib1618: there's no reason other to "stay the course" for now
2016-02-11 17:39:07 fib1618: and we'll see if things start to fall in place next week
2016-02-11 17:39:23 fib1618: as an aside
2016-02-11 17:39:33 fib1618: major resistance on Gold is at $1300
2016-02-11 17:39:50 fib1618: but today had all the ingredients of a short term blow off
2016-02-11 17:40:09 fib1618: but you never know about the yellow metal and its influence on traders
2016-02-11 17:40:33 thespookyone: what did it close at?
2016-02-11 17:40:47 fib1618: gold?
2016-02-11 17:40:51 thespookyone: yes
2016-02-11 17:41:04 fib1618: $1247
2016-02-11 17:41:08 thespookyone: thx
2016-02-11 17:41:08 fib1618: up $50
2016-02-11 17:41:39 fib1618: intraday high was $1264 - whew!
2016-02-11 17:43:27 fib1618: anything else?
2016-02-11 17:43:37 thespookyone: thx
2016-02-11 17:43:53 fib1618: no..thank you! [smile]
2016-02-11 17:44:11 fib1618: OK...if there's nothing else
2016-02-11 17:44:14 fib1618: I'm going to take off
2016-02-11 17:44:21 fib1618: everyone have a great holiday weekend
2016-02-11 17:44:27 fib1618: and we'll do this all again on Tuesday
2016-02-11 17:44:28 fib1618: good night


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