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

Sign up Calendar Latest Topics

  Author   Comment  

Posts: 5,161
Reply with quote  #1 
2016-02-25 16:00:03 fib1618: good day
2016-02-25 16:00:08 fib1618: how is everyone?
2016-02-25 16:00:30 thespookyone: Fine, till you go to Vegas, LOL
2016-02-25 16:02:25 fib1618: OK...any questions or comments before we get started??
2016-02-25 16:03:11 fib1618: looks like a breakout day
2016-02-25 16:03:56 fib1618: close to 3:1...  2.85:1
2016-02-25 16:04:10 fib1618: might be enough for new MCO highs
2016-02-25 16:04:14 fib1618: we'll see in a moment
2016-02-25 16:04:17 thespookyone: yep, wish it had more plurality and volume, but they paid me, so I'm happy
2016-02-25 16:04:37 fib1618: [smile]
2016-02-25 16:04:45 fib1618: want the volume for trends
2016-02-25 16:04:53 fib1618: not sure yet if we are
2016-02-25 16:04:59 thespookyone: nope
2016-02-25 16:05:03 fib1618: based on the low levels of the volume MCSUM's we reviewed on Tuesday
2016-02-25 16:05:17 fib1618: but enough to play long for now on a scalp or day trader basis
2016-02-25 16:05:24 thespookyone: spx getting there, though
2016-02-25 16:05:39 fib1618: we'll see in a moment
2016-02-25 16:05:48 fib1618: OK...let's get going
2016-02-25 16:06:20 fib1618: and the first thing we see is that the NYA closed at a higher level than Monday's
2016-02-25 16:06:43 fib1618: so our expectation from yesterday of a test of the top of the range was met
2016-02-25 16:06:57 fib1618: looking at the NYSE CO breadth MCO though
2016-02-25 16:07:06 fib1618: and we did not confirm the new price highs
2016-02-25 16:07:14 fib1618: so the bulls hope that the Composite did make new highs for confirmation
2016-02-25 16:07:58 fib1618: was enough of a move to show good upside follow through in the NYSE CO breadth MCSUM past the -500 level
2016-02-25 16:08:13 fib1618: so the next expectation here is for a challenge of the -250 level
2016-02-25 16:08:35 fib1618: and then the reaction highs of late December
2016-02-25 16:08:57 fib1618: a higher high in the 5% Trend today is also a big positive
2016-02-25 16:09:14 fib1618: so looks like this current range is about to collapse
2016-02-25 16:09:28 fib1618: lets see what the NYSE Composite breadth MCO looks like
2016-02-25 16:09:41 fib1618: and we got the higher high there
2016-02-25 16:09:49 fib1618: so we have a confirmed breakout to the upside
2016-02-25 16:10:14 fib1618: and notice the wider gap expansion to the upside today in the NYSE Composite breadth MCSUM
2016-02-25 16:10:33 fib1618: as it moved up and through the -250 level with relative ease
2016-02-25 16:11:10 fib1618: this now suggests that there is enough energy to carry the NYA to the 10,000 level
2016-02-25 16:11:22 fib1618: which is about 400 points from current levels
2016-02-25 16:12:09 fib1618: next technical expectation is for the this MCSUM to move to the zero line
2016-02-25 16:12:31 fib1618: and we'll likely be there by the time we meet up again next Thursday
2016-02-25 16:13:01 fib1618: moving to the NASDAQ breadth MCO
2016-02-25 16:13:07 fib1618: and here we did not move to a higher high
2016-02-25 16:13:36 fib1618: so only a challenge of 2/1 highs is still to be expected
2016-02-25 16:13:58 fib1618: this dichotomy between the NYA and the NASDAQ highly suggests a corrective sequence
2016-02-25 16:14:07 fib1618: so we should continue to work with this blueprint for now
2016-02-25 16:14:20 fib1618: for the next couple of days lets watch how the 5% Trend of the NASDAQ MCO acts and reacts at its zero line
2016-02-25 16:14:52 fib1618: where we should find resistance as soon as Friday
2016-02-25 16:14:58 fib1618: pull back after that
2016-02-25 16:15:09 fib1618: and then we'll see if the bulls can force the issue to new highs
2016-02-25 16:15:46 fib1618: the NDX breadth MCO came within 2 points for moving to a higher high
2016-02-25 16:16:15 fib1618: and that's pretty impressive given how difficult it is to see this when we're as "overbought" as we are
2016-02-25 16:16:56 fib1618: we also see that we moved up and through the -250 level here as well on the NDX breadth MCSUM
2016-02-25 16:17:09 fib1618: so a zero line test is likely before our next session
2016-02-25 16:17:29 fib1618: one thing's for sure
2016-02-25 16:17:37 fib1618: we're now starting to see fresh money coming into the market
2016-02-25 16:17:50 fib1618: not much in the way of short covering
2016-02-25 16:18:25 fib1618: and probably investment dollars being "forced" to move back into equities in order to get the best total return as possible
2016-02-25 16:19:05 fib1618: the SPX closed today at its highest levels since the beginning of the year
2016-02-25 16:19:15 fib1618: and with this close just above the 1950 level
2016-02-25 16:19:41 fib1618: the SPX breadth MCO came up just a bit short of matching the previous high point
2016-02-25 16:19:52 fib1618: so even if we pull back from here
2016-02-25 16:20:08 fib1618: this small amount of  bearish divergence isn't likely to mean a whole lot to the sellers
2016-02-25 16:20:22 fib1618: but as long as we remain with this high imbalance between buyers and sellers
2016-02-25 16:20:54 fib1618: prices are likely to continue moving north just on the momentum generated if for anything else
2016-02-25 16:21:12 fib1618: so let's look for a 2000 price target for the SPX now
2016-02-25 16:21:24 fib1618: more importantly
2016-02-25 16:21:35 fib1618: the SPX breadth MCSUM is now racing closer to its zero line
2016-02-25 16:21:52 fib1618: with a reading today of -49
2016-02-25 16:22:10 fib1618: so even if we have a disastrous day on Friday
2016-02-25 16:22:41 fib1618: we should see this MCSUM settle at or just slightly above this demarcation point between who's in control of the price action
2016-02-25 16:23:16 fib1618: with a close above the end December peak freeing prices to move to the 2000 level
2016-02-25 16:23:21 thespookyone: that close to the zero line, a "statement day: is possible...
2016-02-25 16:23:31 fib1618: well...
2016-02-25 16:23:38 fib1618: I think the statement day was today
2016-02-25 16:23:44 thespookyone: cool
2016-02-25 16:24:03 fib1618: as we have, already, moved above the -250 level on couple of MCSUM's
2016-02-25 16:24:16 fib1618: and we have others that are approaching their zero lines
2016-02-25 16:24:37 fib1618: the action and reaction of the last couple of days also is providing a good cadence
2016-02-25 16:24:47 fib1618: we fill the pattern gaps
2016-02-25 16:24:51 fib1618: reverse intraday
2016-02-25 16:24:54 fib1618: move to a higher high
2016-02-25 16:25:06 fib1618: and then close above the recent highs with higher MCO's
2016-02-25 16:25:26 fib1618: only fresh investment dollars can do this
2016-02-25 16:25:31 fib1618: and with OPEX out of the way
2016-02-25 16:25:40 fib1618: there's nothing here to keep prices weighted
2016-02-25 16:25:55 fib1618: which brings up another focus for the next several days
2016-02-25 16:26:04 fib1618: in watching the ISEE numbers
2016-02-25 16:26:12 fib1618: any number above, oh, let's say 200 or above
2016-02-25 16:26:25 fib1618: and we're pretty much done on this counter trend
2016-02-25 16:26:58 fib1618: but there's a definite feel here that we're likely to move north now into the middle part of next week
2016-02-25 16:27:00 thespookyone: good to know, thx
2016-02-25 16:27:08 fib1618: and then even up going into the job's numbers
2016-02-25 16:27:42 fib1618: the one thing that traders are banking on now is that interest rates will remain lower for a while
2016-02-25 16:28:00 fib1618: and we've noted this in the charts of the last few days
2016-02-25 16:28:07 fib1618: and while we're on the subject
2016-02-25 16:28:24 fib1618: I guess we found out why the XLY was as strong as it has been this morning
2016-02-25 16:28:32 fib1618: with durable goods up a whopping 5%!
2016-02-25 16:28:45 fib1618: so this again provides us the insight
2016-02-25 16:28:57 fib1618: that we don't have to know why prices move like they do
2016-02-25 16:29:05 fib1618: only that we should follow the lead of bigger money
2016-02-25 16:29:14 fib1618: and let the answers become clear later on
2016-02-25 16:29:46 thespookyone: I followed a giant AAPL call buy today, twt
2016-02-25 16:30:09 fib1618: moving to the OEX breadth MCO
2016-02-25 16:30:18 fib1618: and by less than a point it did close at a new high today
2016-02-25 16:30:39 fib1618: and this confirms the higher close in the average
2016-02-25 16:30:48 fib1618: so we have a upside breakout here as well
2016-02-25 16:30:55 fib1618: for now
2016-02-25 16:31:18 fib1618: let's also look for a minimal snapback to the old area of support at the 890 level
2016-02-25 16:31:33 fib1618: and also make note
2016-02-25 16:32:09 fib1618: that with this higher high in the NYSE Composite and OEX breadth MCO's we now have a confirmed divergent double bottoms behind us
2016-02-25 16:33:02 fib1618: with the approximate upside measuring target of around 900 for the OEX
2016-02-25 16:33:05 fib1618: and for the NYA...
2016-02-25 16:33:44 fib1618: 10,100
2016-02-25 16:34:01 fib1618: and we'll call it + or - 2%
2016-02-25 16:34:10 fib1618: so a nice run
2016-02-25 16:34:40 fib1618: and a higher high in the Dow breadth MCO
2016-02-25 16:34:59 fib1618: target there on the snapback is about 17,200
2016-02-25 16:35:07 fib1618: with the double bottom objective of...
2016-02-25 16:35:42 fib1618: 17,300
2016-02-25 16:35:59 fib1618: so that measured objective would also satisfy the snapback
2016-02-25 16:36:42 fib1618: and with the Dow breadth MCSUM about to move up and though its zero line on Friday
2016-02-25 16:37:10 fib1618: the next area of natural resistance will come at the +250 level
2016-02-25 16:37:35 fib1618: which, as we know, is the target from which bear market rally's tend to exhaust themselves
2016-02-25 16:37:45 fib1618: probably what will be the key here
2016-02-25 16:37:58 fib1618: is what happens with the BETS during this expected follow through rally
2016-02-25 16:38:09 fib1618: with any closing above the +20 level suggesting something different going on
2016-02-25 16:38:32 fib1618: and we'll adjust accordingly
2016-02-25 16:38:35 fib1618: keeping in mind
2016-02-25 16:39:04 fib1618: that the MCSUM suggested last month that we would have some sort of price bottom at around the OPEX date
2016-02-25 16:39:12 fib1618: so what's a week difference?
2016-02-25 16:39:15 fib1618: [smile]
2016-02-25 16:39:34 fib1618: also watch the action at the late December high point in the MCSUM's
2016-02-25 16:39:38 fib1618: if we hesitate there
2016-02-25 16:40:04 fib1618: then the probabilities rise that the +250 level will be our ceiling for this move
2016-02-25 16:40:18 fib1618: but if it slams through this horizontal zone
2016-02-25 16:40:32 fib1618: then we might indeed be dealing with another animal
2016-02-25 16:40:39 fib1618: we just have to be patient
2016-02-25 16:40:47 fib1618: and above all else
2016-02-25 16:40:51 fib1618: disciplined
2016-02-25 16:41:06 fib1618: higher high close in the MID today
2016-02-25 16:41:19 fib1618: but the MID breadth MCO didn't quite confirm with a higher high
2016-02-25 16:41:24 fib1618: but the components did
2016-02-25 16:41:47 fib1618: showing a nice amount of bounce strength off the zero line with the 5% Trend
2016-02-25 16:42:09 fib1618: looks like a trip to the MID breadth MCSUM zero line is also on the table for this group of issues
2016-02-25 16:42:28 fib1618: and we'll watch the price reaction is it moves above the -250 level on Friday
2016-02-25 16:42:40 fib1618: as it should be a good follow through day for the index
2016-02-25 16:43:11 fib1618: doing some checking in the monthlies here
2016-02-25 16:43:17 fib1618: and the Dow is now up for the month
2016-02-25 16:43:47 fib1618: as is the MID and SML
2016-02-25 16:44:02 fib1618: with a positive close on Friday including the SPX and NYA on this list
2016-02-25 16:44:21 fib1618: kind of humbling
2016-02-25 16:44:37 fib1618: with many still working with the debacle we had at the beginning of the year
2016-02-25 16:44:51 fib1618: and this same "many" looking for more downside
2016-02-25 16:45:01 fib1618: and as we mentioned in passing in one of the chats
2016-02-25 16:45:20 fib1618: that the market doesn't like too much company...that it tends to make the majority wrong
2016-02-25 16:45:23 fib1618: and here we are
2016-02-25 16:45:48 fib1618: higher high in the SML breadth MCO today
2016-02-25 16:46:04 fib1618: and a technical price breakout is confirmed
2016-02-25 16:46:14 fib1618: snapback is at 660
2016-02-25 16:46:28 fib1618: with the double bottom target at...
2016-02-25 16:46:50 fib1618: 665
2016-02-25 16:46:59 fib1618: so, again, within range of one another
2016-02-25 16:47:13 fib1618: and this increases the odds of prices reaching these targets
2016-02-25 16:47:24 fib1618: like the proverbial magnet to iron
2016-02-25 16:48:07 fib1618: another thing that we now have to acknowledge as well
2016-02-25 16:48:26 fib1618: is that we do have bull divergence between price and the MCSUM from the 2/11 lows
2016-02-25 16:48:30 fib1618: the trigger here would be...
2016-02-25 16:48:47 fib1618: above the end December high point in the MCSUM's
2016-02-25 16:48:56 fib1618: so there's a whole lot of things going on right now
2016-02-25 16:49:17 fib1618: and why yesterday, and now with today's action, were important days toward the bull cause
2016-02-25 16:50:31 fib1618: and the Wilshire 5000 closed right at the top of the current range at just below 20,000
2016-02-25 16:50:57 fib1618: with good action internally to support it
2016-02-25 16:51:00 fib1618: not confirmed
2016-02-25 16:51:22 fib1618: but enough, given what we've seen already, to see a breakout above current levels
2016-02-25 16:51:32 fib1618: glad the BETS went to cash last week - whew!
2016-02-25 16:51:42 fib1618: so...
2016-02-25 16:51:53 fib1618: this was a very good day for the buyers
2016-02-25 16:52:34 fib1618: with the morning's weakness being bought just after Europe's closed
2016-02-25 16:52:43 fib1618: and never looked back from there
2016-02-25 16:53:06 fib1618: while closing near the highs of the day no less
2016-02-25 16:53:21 fib1618: let's look for a continuation then into the beginning of next week
2016-02-25 16:53:38 fib1618: with a probable pause in the price action on Tuesday/Wednesday
2016-02-25 16:53:47 fib1618: and then chop into the economic data
2016-02-25 16:53:59 fib1618: moving to the OBV's
2016-02-25 16:54:19 fib1618: oh...let me take a quick peak at the sectors first
2016-02-25 16:54:47 fib1618: the XLY breadth MCO is still stuck within its triangle
2016-02-25 16:54:59 fib1618: and a power move to the upside in the XLP breadth MCO today
2016-02-25 16:55:05 fib1618: just what we expected yesterday
2016-02-25 16:55:09 fib1618: new all time closing highs
2016-02-25 16:55:16 fib1618: new highs in the XLP breadth MCO
2016-02-25 16:55:30 fib1618: and a strong move above the +500 on the XLP breadth MCSUM
2016-02-25 16:55:49 fib1618: so we have reached "escape velocity" there
2016-02-25 16:56:08 fib1618: even closed above the October highs in the MCO
2016-02-25 16:56:37 fib1618: yield on XLP is at 2.52%
2016-02-25 16:56:56 fib1618: so the average soul is probably buying this sector
2016-02-25 16:57:10 fib1618: we remain bullish on that one
2016-02-25 16:57:46 fib1618: XLV continues to improve
2016-02-25 16:57:56 fib1618: but still under some selling pressure
2016-02-25 16:58:09 fib1618: no upside confirmation in the XLI
2016-02-25 16:58:27 fib1618: but we did move up and through the XLI breadth MCSUM zero line and the late December highs today
2016-02-25 16:58:59 fib1618: but with the XLI breadth MCO not showing any vigor
2016-02-25 16:59:09 fib1618: it doesn't look like it's going to make it past +250
2016-02-25 17:00:01 fib1618: also of note is that this MCSUM is now up against its declining tops line connecting the November/December highs
2016-02-25 17:00:07 fib1618: so if it wakes up on Friday
2016-02-25 17:00:15 fib1618: then it would be different story
2016-02-25 17:00:44 fib1618: the XLB is looking better and better
2016-02-25 17:01:11 fib1618: with a break above the late December highs in the XLB breadth MCSUM to go along with the higher price highs today
2016-02-25 17:01:23 fib1618: strike that
2016-02-25 17:01:30 fib1618: with a higher close today...not a higher high
2016-02-25 17:01:50 fib1618: could be a cup and handle formation though
2016-02-25 17:02:08 fib1618: with the rounding bottom and the consolidation of the last week
2016-02-25 17:02:16 fib1618: so, again, another one to watch
2016-02-25 17:02:48 fib1618: up and through the zero line today on the XLK breadth MCSUM
2016-02-25 17:03:13 fib1618: as it came within a point of seeing a higher MCO high
2016-02-25 17:03:25 fib1618: this is really some sign of strength here
2016-02-25 17:03:37 fib1618: I'm starting to get a bit more bullish now
2016-02-25 17:03:55 fib1618: and the XLU is just out of control
2016-02-25 17:04:06 fib1618: with another all time high close
2016-02-25 17:04:12 fib1618: and if that wasn't enough
2016-02-25 17:04:19 fib1618: a new high in the XLU breadth MCSUM!
2016-02-25 17:04:30 fib1618: long and strong there
2016-02-25 17:04:34 fib1618: checking the yield
2016-02-25 17:04:52 fib1618: 3.50%
2016-02-25 17:05:00 fib1618: oh yea...we did that one yesterday
2016-02-25 17:05:05 fib1618: it's all about yield here
2016-02-25 17:05:10 fib1618: let me check the REITS
2016-02-25 17:05:38 fib1618: upside pattern breakouts on REM and MORT as well
2016-02-25 17:06:00 fib1618: so...
2016-02-25 17:06:17 fib1618: it would seem that we're building a nice rhythm in the major averages
2016-02-25 17:06:32 fib1618: with many breaking above their 20 day EMA's earlier in the week
2016-02-25 17:06:39 fib1618: finding resistance at the 50 day EMA
2016-02-25 17:06:46 fib1618: coming down to test the 20
2016-02-25 17:06:58 fib1618: and many have now moved above the 50's
2016-02-25 17:07:24 fib1618: next chart objective then are the 200 day EMA's on those indices that haven't moved to new all time highs
2016-02-25 17:07:34 fib1618: and in a perfect technical world
2016-02-25 17:07:37 fib1618: find initial resistance
2016-02-25 17:07:50 fib1618: snapback toward the rising 20/50 EMA's
2016-02-25 17:08:12 fib1618: find support and then break above the 200 day later in the March/April period
2016-02-25 17:08:26 fib1618: moving to the OBV's
2016-02-25 17:09:00 fib1618: I have just noticed that I have made an error on the XLU
2016-02-25 17:09:04 fib1618: we are NOT at all time highs
2016-02-25 17:09:27 fib1618: the intraday is at $47.99
2016-02-25 17:09:49 fib1618: and the close is at $47.64
2016-02-25 17:09:59 fib1618: and we closed today at $47.48
2016-02-25 17:10:30 fib1618: XLP is at all time highs
2016-02-25 17:10:36 fib1618: sorry for the confusion
2016-02-25 17:10:45 fib1618: OK...OBV's
2016-02-25 17:11:26 fib1618: and the CVI's are climactic
2016-02-25 17:11:42 fib1618: so lets look for a price top in the next two trading sessions
2016-02-25 17:11:53 fib1618: remember...this is only a near term indicator
2016-02-25 17:12:03 fib1618: just like range days
2016-02-25 17:12:14 fib1618: it's for a day or so
2016-02-25 17:12:17 fib1618: could be more
2016-02-25 17:12:20 fib1618: all depending
2016-02-25 17:12:54 fib1618: we'll call the STVO's still "overbought"
2016-02-25 17:13:04 fib1618: VTO's continue to creep higher
2016-02-25 17:13:19 fib1618: and likely will be our signal of a price top once they reach "overbought" levels
2016-02-25 17:13:38 fib1618: NYSE TRIN at .97
2016-02-25 17:13:47 fib1618: Open 10 at 1.07
2016-02-25 17:13:58 fib1618: NASDAQ TRIN at .61
2016-02-25 17:14:06 fib1618: lots of covering there
2016-02-25 17:14:18 fib1618: Open 10 at .86
2016-02-25 17:14:42 fib1618: TM TRIN at .78
2016-02-25 17:14:50 fib1618: Open 10 at .94
2016-02-25 17:15:04 fib1618: and pretty much moving sideways
2016-02-25 17:15:15 fib1618: so...
2016-02-25 17:15:45 fib1618: there is now enough fuel moving into the equities where another advancing sequence of higher lows and higher highs is likely to continue for the next couple of days
2016-02-25 17:16:46 fib1618: upside targets on a chart basis are the previous areas in which provided support before the January collapse
2016-02-25 17:17:07 fib1618: with the double bottom measurement targets just slightly above these levels
2016-02-25 17:17:22 fib1618: given current sentiment
2016-02-25 17:17:55 fib1618: it wouldn't be too surprising if we see a rush to these price targets as traders realize what's going on
2016-02-25 17:18:16 fib1618: and if conditions exist to where we can do better
2016-02-25 17:18:25 fib1618: we'll cross that bridge when we come to it
2016-02-25 17:18:47 fib1618: but for now...the buyers are holding the cards
2016-02-25 17:18:57 fib1618: it's theirs to lose
2016-02-25 17:19:06 fib1618: let me check the global charts
2016-02-25 17:19:47 fib1618: I'm doing a quick check of the A/D lines first
2016-02-25 17:20:07 fib1618: and the SPX A/D has now moved back above the 1% Trend
2016-02-25 17:20:38 fib1618: after snapping back to it yesterday
2016-02-25 17:20:44 fib1618: and moving to a higher high today
2016-02-25 17:21:13 fib1618: and as we know by the SPX breadth MCSUM being at its zero line
2016-02-25 17:21:25 fib1618: the 19 day EMA is about to cross up and through the 39 day EMA
2016-02-25 17:21:42 fib1618: so we should be on a "Get Set" buy signal there on Friday
2016-02-25 17:22:14 fib1618: the strongest A/D lines right now are...
2016-02-25 17:22:25 fib1618: (based on their being above their 200 day EMA's)
2016-02-25 17:22:49 fib1618: NDX
2016-02-25 17:22:51 fib1618: SPX
2016-02-25 17:22:54 fib1618: MID
2016-02-25 17:22:56 fib1618: Dow
2016-02-25 17:23:12 fib1618: the rest are far away from joining them
2016-02-25 17:23:26 fib1618: so you have your "go to" areas to look at for any longs you might consider here
2016-02-25 17:23:47 fib1618: strongest A/D lines in the sectors
2016-02-25 17:25:08 fib1618: XLY
2016-02-25 17:25:52 fib1618: the XLP is at all time highs...and FLYING
2016-02-25 17:26:43 fib1618: XLV
2016-02-25 17:27:06 fib1618: XLI
2016-02-25 17:27:48 fib1618: XLK is now back into a bullish configuration
2016-02-25 17:27:53 fib1618: so a buy there
2016-02-25 17:28:26 fib1618: and, as you can imagine, the XLU is rocketing higher
2016-02-25 17:28:48 fib1618: you know...keep this up...and we have a major bottom behind us
2016-02-25 17:29:32 fib1618: as far as the volume lines
2016-02-25 17:29:43 fib1618: only the XLI and the XLU are above their 200 day EMA's
2016-02-25 17:31:25 fib1618: OK...well...the global iShares charts look awful
2016-02-25 17:31:35 fib1618: none of them are showing any kind of bullishness here
2016-02-25 17:31:37 fib1618: nothing
2016-02-25 17:31:43 fib1618: so this is a US based rally
2016-02-25 17:31:52 fib1618: as money is coming in globally it would seem
2016-02-25 17:32:05 fib1618: at least that would make the most sense
2016-02-25 17:32:10 fib1618: and why
2016-02-25 17:32:14 thespookyone: We're number 1 [smile]
2016-02-25 17:32:18 fib1618: the large caps (SPX and NDX) are showing favor here
2016-02-25 17:32:23 fib1618: I guess so
2016-02-25 17:33:00 fib1618: CME and NDAQ are the only exchanges that are bullish
2016-02-25 17:33:27 fib1618: banks look miserable
2016-02-25 17:33:39 fib1618: biotech too
2016-02-25 17:33:55 fib1618: China is horrible
2016-02-25 17:34:26 fib1618: DBC (commodities) continues to move sideways
2016-02-25 17:35:03 fib1618: non cyclicals look good
2016-02-25 17:35:54 fib1618: dividend iShares are a point below their all time highs
2016-02-25 17:35:58 fib1618: no surprise there
2016-02-25 17:36:22 fib1618: a lot of UGLY charts
2016-02-25 17:36:33 fib1618: energy is below the curb
2016-02-25 17:37:17 fib1618: health care devices are showing strength
2016-02-25 17:37:30 fib1618: gold looks good [wink]
2016-02-25 17:37:56 fib1618: home construction is showing some backbone here
2016-02-25 17:38:00 fib1618: then again it's the spring which tends to be its strongest season
2016-02-25 17:39:07 fib1618: retail is showing some strength
2016-02-25 17:39:16 fib1618: maybe there's going to be a lot of tax refunds?
2016-02-25 17:39:34 fib1618: or it could be a simple case of store closings meaning less overhead?
2016-02-25 17:40:37 fib1618: telecom stocks are firm
2016-02-25 17:40:45 fib1618: not a lot to be bullish about
2016-02-25 17:41:05 fib1618: makes you wonder what's really going on here
2016-02-25 17:41:41 fib1618: airlines doing really well here of late
2016-02-25 17:42:03 fib1618: up 15% in 2 weeks
2016-02-25 17:42:09 fib1618: XAL
2016-02-25 17:43:11 fib1618: thing's for sure... you have to dig deep to find a bullish gem
2016-02-25 17:43:39 fib1618: housing looks to be following construction's lead
2016-02-25 17:43:51 fib1618: networking is also firm
2016-02-25 17:44:08 fib1618: retail is not that bad...have to watch that
2016-02-25 17:44:45 fib1618: 3 month T-Bill rates continue to rise
2016-02-25 17:45:07 fib1618: Libor is sky high right now
2016-02-25 17:45:52 fib1618: which is usually very bearish for equities
2016-02-25 17:46:48 fib1618: 5 year notes are yielding at 30 month lows
2016-02-25 17:47:08 fib1618: the 7 and the 10's as well
2016-02-25 17:47:28 fib1618: but diverging in the 30's
2016-02-25 17:47:39 fib1618: what a mess!
2016-02-25 17:48:12 fib1618: the Dollar looks like it's ready to collapse again
2016-02-25 17:48:21 fib1618: that should help gold short term
2016-02-25 17:48:38 fib1618: Insurance stocks are hanging in there
2016-02-25 17:49:14 fib1618: AT&T continues to trade at all time highs
2016-02-25 17:49:37 fib1618: no wonder
2016-02-25 17:49:42 fib1618: it's yielding 5.21%!
2016-02-25 17:50:21 fib1618: major center banks are all dead in the water here
2016-02-25 17:50:28 fib1618: all in bearish configurations
2016-02-25 17:50:53 fib1618: so wherever the strength is coming from
2016-02-25 17:51:00 fib1618: it's being VERY selective
2016-02-25 17:51:04 fib1618: more than likely
2016-02-25 17:51:48 fib1618: a combination of short covering, money moving into defensive issues with high yields, and areas that have been picked apart
2016-02-25 17:51:58 fib1618: nothing really bullish out there
2016-02-25 17:52:04 fib1618: so let's keep a level head here
2016-02-25 17:52:11 fib1618: and see how far this runs
2016-02-25 17:52:17 fib1618: anything else?
2016-02-25 17:52:49 fib1618: very disheartening to see these charts after seeing what's going on with the MCO's
2016-02-25 17:53:12 fib1618: bottom line, as an investor
2016-02-25 17:53:28 fib1618: there's absolutely no rush to go long here
2016-02-25 17:54:06 fib1618: OK...if there's nothing else
2016-02-25 17:54:13 fib1618: it's time for a break until next Thursday
2016-02-25 17:54:26 fib1618: everyone have a great week, weekend, and leap day
2016-02-25 17:54:37 fib1618: and we'll do this all again a week from now
2016-02-25 17:54:39 fib1618: 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

Previous Topic | Next Topic

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Copyright 2000-2020 Technical Watch