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

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

  Author   Comment  

Posts: 4,423
Reply with quote  #1 
2016-04-26 16:00:12 fib1618: good day
2016-04-26 16:00:16 fib1618: how is everyone?
2016-04-26 16:00:58 thespookyone: Great, thanks, and you? I just returned from some time with my youngest daughter in Glasgow
2016-04-26 16:01:18 fib1618: well...welcome home!!
2016-04-26 16:01:24 thespookyone: Thanks
2016-04-26 16:01:25 fib1618: and doing fine...thanks for asking
2016-04-26 16:02:34 fib1618: didn't miss much
2016-04-26 16:02:39 fib1618: the market just keeps rising
2016-04-26 16:02:44 thespookyone: nope, it seems
2016-04-26 16:03:04 thespookyone: yep, up it goes
2016-04-26 16:03:19 fib1618: OK...any questions or comments before we get started??
2016-04-26 16:03:32 fib1618: I'll go check the BETS in the meantime
2016-04-26 16:03:47 thespookyone: they didn't like something in the AAPL report, I guess
2016-04-26 16:04:18 fib1618: negative earnings...but this has been telegraphed for weeks now
2016-04-26 16:05:24 fib1618: +45
2016-04-26 16:05:37 fib1618: "accumulate with a bullish bias"
2016-04-26 16:06:06 fib1618: looks like we have 3 other cumulative charts that can go positive in the next 2 days as well
2016-04-26 16:06:28 fib1618: new all time high again in the NYAD line
2016-04-26 16:06:35 fib1618: so breadth must had been good today
2016-04-26 16:07:02 fib1618: wow... 3.36:1
2016-04-26 16:07:22 fib1618: seems smart money was accumulating today
2016-04-26 16:07:34 fib1618: (if there is such a thing)
2016-04-26 16:10:15 fib1618: OK...let's get SC up and get started
2016-04-26 16:10:48 fib1618: after completing its snapback to the zero line on Monday
2016-04-26 16:11:00 fib1618: the NYSE CO breadth MCO bounced off this same zero line today
2016-04-26 16:11:14 fib1618: and ended up with a reading of +26
2016-04-26 16:11:28 fib1618: which is only a point higher than natural resistance at +25
2016-04-26 16:11:35 fib1618: so if the sellers are going to take control
2016-04-26 16:11:44 fib1618: they would have to do so here and now
2016-04-26 16:11:55 fib1618: or they will, again, lose any chance of taking control for the next couple of weeks
2016-04-26 16:13:32 fib1618: looking at the CO components
2016-04-26 16:13:44 fib1618: and we see that they remain elevated above their zero lines
2016-04-26 16:14:03 fib1618: and this would instruct us that the buyers remain fully in control of the price action at this time
2016-04-26 16:14:23 fib1618: we also see that we moved to new highs in the NYSE CO breadth MCSUM as well
2016-04-26 16:14:39 fib1618: so unless the +1000 level provides resistance
2016-04-26 16:15:10 fib1618: we have several more weeks of price buoyancy in front of us
2016-04-26 16:15:23 fib1618: near term
2016-04-26 16:15:49 fib1618: any take out of the +50 level on the CO MCO will then allow prices in the NYA to challenge their all time highs
2016-04-26 16:16:19 fib1618: moving to the NYSE Composite breadth MCO
2016-04-26 16:16:29 fib1618: and here too we also saw a bounce today off the zero line
2016-04-26 16:17:09 fib1618: but we finished today a little weaker than the CO breadth MCO with a reading today of +20
2016-04-26 16:17:41 fib1618: this suggests to us that the interest rate sensitive issues are not seeing the kind of strength that we've seen over the last several weeks
2016-04-26 16:18:20 fib1618: and it also shows us how using an EMA in the calculation in the MCO can produce a different result than one might think
2016-04-26 16:18:23 fib1618: for example
2016-04-26 16:18:36 fib1618: today's NYSE breadth plurality was 3.36:1
2016-04-26 16:18:43 fib1618: but we only were able to see a +20 reading
2016-04-26 16:18:49 fib1618: as we have discussed in the past
2016-04-26 16:19:00 fib1618: the longer the MCO either stays above its zero line
2016-04-26 16:19:12 fib1618: or moves to extremes above or below the 50 level
2016-04-26 16:19:28 fib1618: it becomes more and more difficult to move the trend in this ongoing direction
2016-04-26 16:19:41 fib1618: where at the beginning of a thrust
2016-04-26 16:20:00 fib1618: a 3.36:1 plurality might produce an move in the MCO of 30 points or more
2016-04-26 16:20:34 fib1618: so we always have to be cognizant of this context in the way the math is figured
2016-04-26 16:20:56 fib1618: so with a 3.36:1 plurality
2016-04-26 16:21:20 fib1618: we have to figure that it's going to take even better breadth plurality to move above the +50 level (for example)
2016-04-26 16:21:23 fib1618: either at one time
2016-04-26 16:21:28 fib1618: or over a series of consecutive trading days
2016-04-26 16:22:08 fib1618: and the best way to know what the degree of difficulty might be for the MCO to accomplish things like this
2016-04-26 16:22:29 fib1618: is that we have to take our clues from the Summation Index
2016-04-26 16:22:37 fib1618: as it becomes more and more extreme
2016-04-26 16:22:59 fib1618: we then need more and more strength to keep the ball rolling
2016-04-26 16:23:10 mojave: great reminder of that math, tks
2016-04-26 16:23:35 fib1618: this then results in better amplitudes for prices themselves
2016-04-26 16:23:43 fib1618: as they can then more even further without being held back
2016-04-26 16:24:12 fib1618: even after when we finally get an exhaustion day to all of this ongoing trend in the direction of money flow itself
2016-04-26 16:24:51 fib1618: so...when you read about how people get confused on why the MCO didn't move higher with such a large positive plurality today
2016-04-26 16:24:54 fib1618: now you know why
2016-04-26 16:24:57 fib1618: it's all in the math
2016-04-26 16:25:19 fib1618: moving to the NASDAQ breadth MCO
2016-04-26 16:25:28 fib1618: and here we didn't need to reach the zero line on the pullback
2016-04-26 16:25:48 fib1618: which then instructs us that there a lessening of selling pressure going on now in the growth sector
2016-04-26 16:26:02 fib1618: but with a reading of only +15 today
2016-04-26 16:26:22 fib1618: this also suggests that there isn't a whole lot of buying going on as well
2016-04-26 16:26:24 fib1618: but since we are above the zero line
2016-04-26 16:26:43 fib1618: there is, on balance, more buyers than sellers at current price levels
2016-04-26 16:27:18 fib1618: we also note that the NASDAQ breadth MCO components also remain elevated here as well
2016-04-26 16:27:28 fib1618: and this will help in keeping any selling to a minimum
2016-04-26 16:27:35 fib1618: or in the case of the last couple of days
2016-04-26 16:28:36 fib1618: the sellers must continue to constantly hold down the "basketball at the deep end of a swimming pool" or it will move sharply back to and/or above the surface very quickly
2016-04-26 16:29:17 fib1618: we also notice that we did have a follow through day to the upside above the +500 level today in the NASDAQ breadth MCSUM
2016-04-26 16:29:55 fib1618: so we should anticipate that we're going to continue higher from here in an effort to challenge the next natural area of resistance at the +750 level
2016-04-26 16:30:15 fib1618: especially with the NYSE MCSUM moving to new highs
2016-04-26 16:30:29 fib1618: so hopefully the NDX is firming now to help out the composite
2016-04-26 16:30:31 fib1618: and..
2016-04-26 16:30:49 fib1618: it's still showing some weakness here
2016-04-26 16:30:53 fib1618: as it remains below its zero line
2016-04-26 16:31:11 fib1618: and at this point
2016-04-26 16:31:15 fib1618: taking this at face value
2016-04-26 16:31:29 fib1618: with the NDX components seeing a negative cross over
2016-04-26 16:31:45 fib1618: and the 10% Trend in the process of snapping back to the 5%
2016-04-26 16:31:57 fib1618: we should expect this weakness to continue near term
2016-04-26 16:32:03 fib1618: but on the other hand
2016-04-26 16:32:21 fib1618: with the NYSE group of issues remaining strong here
2016-04-26 16:32:45 fib1618: and the NASDAQ Composite holding together without the direct help of the top 100 issues on the exchange
2016-04-26 16:33:25 fib1618: one would think that once whatever is ailing this basket of issues passes, we should see several days of playing catch up to the rest of the market itself
2016-04-26 16:33:38 fib1618: let's see how the SPX is doing
2016-04-26 16:34:03 fib1618: and here we had a zero line bounce today in the SPX breadth MCO
2016-04-26 16:34:22 fib1618: but it was only good enough for a +18 reading
2016-04-26 16:34:49 fib1618: we note that, here too, the SPX Components remain elevated above their zero line
2016-04-26 16:35:03 fib1618: and the SPX breadth MCSUM is now a day away from moving to higher highs
2016-04-26 16:35:36 fib1618: so far then, it would appear that the market has been working itself toward tomorrows Fed Statement
2016-04-26 16:35:38 fib1618: but at the same time
2016-04-26 16:35:44 fib1618: has been sneaking higher as it passes the time to get there
2016-04-26 16:36:09 fib1618: and not allowing too many to climb on board by being down during the day and then closing at or near the highs of the day
2016-04-26 16:36:29 fib1618: this is an old merchandising technique from market makers for decades
2016-04-26 16:36:37 fib1618: as it keeps those on the fence...on the fence
2016-04-26 16:37:20 fib1618: while allowing those with strong hands to accumulate issues in front of, what is usually, a media event
2016-04-26 16:37:37 thespookyone: [smile]
2016-04-26 16:37:42 fib1618: like a FED numbers...elections
2016-04-26 16:38:06 fib1618: moving to the OEX breadth MCO
2016-04-26 16:38:19 fib1618: and here we remained firm on the pullback
2016-04-26 16:38:41 fib1618: bottoming yesterday at a +16
2016-04-26 16:38:56 fib1618: and now back to just below the important +25 level
2016-04-26 16:39:20 fib1618: note here that we are also 25 data points from the +1000 level on the OEX breadth MCSUM
2016-04-26 16:39:48 fib1618: so we're now sitting at just below, what could be, an important breakout point
2016-04-26 16:39:57 fib1618: and if the top 100 issues do so
2016-04-26 16:40:04 fib1618: that would pull up the broader 500
2016-04-26 16:40:13 fib1618: and we would then be, again, in gear to the upside
2016-04-26 16:40:29 fib1618: and frankly
2016-04-26 16:40:35 fib1618: unless they raise rates tomorrow
2016-04-26 16:41:15 fib1618: we'll more than likely to see a sigh of relief than we would something that would be suggested as being "disappointing"
2016-04-26 16:41:41 fib1618: the DOW breadth MCO settled at the zero line today
2016-04-26 16:41:48 fib1618: so one side is about to take control there
2016-04-26 16:42:10 fib1618: the Dow MCO components also remain elevated
2016-04-26 16:42:26 fib1618: as well as in a position to where a technical bounce higher would be suggested near term
2016-04-26 16:43:31 fib1618: as we note that the direction of the Dow breadth MCSUM has flattened out right at the previous highs seen back November of last year
2016-04-26 16:44:12 fib1618: making the next several days much more important than 99% of traders will acknowledge
2016-04-26 16:44:39 fib1618: with a failure to move to new highs putting a cap on the trading range and the all time highs in the Dow
2016-04-26 16:44:59 fib1618: and a break above this level giving the "all clear" for the Dow to move to new all time highs...and stay there
2016-04-26 16:45:07 fib1618: reasonably
2016-04-26 16:45:16 fib1618: a rest would be expected though
2016-04-26 16:45:30 fib1618: but since the NYSE MCSUM data is making new highs
2016-04-26 16:45:42 fib1618: it would seem we still have some unfinished business still yet to do
2016-04-26 16:46:05 fib1618: good near term action in the MID breadth MCO
2016-04-26 16:46:18 fib1618: as we tested the zero line twice in less than a week
2016-04-26 16:46:30 fib1618: and then moved to a higher high today above last week's peak
2016-04-26 16:47:23 fib1618: with a move above the 4/19 highs needed in order for the MID breadth MCSUM to break to new highs of its own
2016-04-26 16:47:25 fib1618: again
2016-04-26 16:47:36 fib1618: it must all work together to achieve a common goal
2016-04-26 16:47:38 fib1618: and in this case
2016-04-26 16:48:00 fib1618: a challenge of the all time price highs is in the balance
2016-04-26 16:48:29 fib1618: adding to this
2016-04-26 16:49:04 fib1618: is that we did close at the highest levels since last August today
2016-04-26 16:49:19 fib1618: after holding at around what was the reaction highs of last fall
2016-04-26 16:49:27 fib1618: so the whisper there
2016-04-26 16:49:39 fib1618: in that we did get a confirmation on the higher high today
2016-04-26 16:49:51 fib1618: and this would suggest follow through to the upside on Wednesday
2016-04-26 16:50:21 fib1618: notice also the classic "stair step" structure in the MID price sequence
2016-04-26 16:50:44 fib1618: which, in and of itself, shows good character in the trend
2016-04-26 16:51:09 fib1618: nice...
2016-04-26 16:51:17 fib1618: the SML closed on its highs of the day
2016-04-26 16:51:36 fib1618: and it's now less than 5 points from its fall price highs
2016-04-26 16:52:02 fib1618: we also had a strong bounce off the SML breadth MCO zero line today
2016-04-26 16:52:15 fib1618: but we finished just below the highs of last week
2016-04-26 16:52:34 fib1618: so we need some immediate follow through here by the buyers or a rally failure will result
2016-04-26 16:52:58 fib1618: looking at the 21 day close up chart of the SML breadth MCSUM
2016-04-26 16:53:13 fib1618: and we can see that we do have good post expansion now to the upside
2016-04-26 16:53:26 fib1618: so the expectation is that we will see follow through action near term
2016-04-26 16:53:41 fib1618: as money continues to "pulse" into equities
2016-04-26 16:54:12 fib1618: and a successful zero line bounce as well in the TM breadth MCO
2016-04-26 16:54:25 fib1618: but finishing with only a +17 reading today
2016-04-26 16:54:39 fib1618: near term
2016-04-26 16:54:52 fib1618: the first objective to breach the +25 level
2016-04-26 16:54:54 fib1618: and ideally
2016-04-26 16:55:16 fib1618: above the +34 peak seen last week to clear the deck of the remaining shorts
2016-04-26 16:55:21 fib1618: so...
2016-04-26 16:55:28 fib1618: the market remains with a bullish bias
2016-04-26 16:55:40 fib1618: as the path of least resistance continues with the bulls at this time
2016-04-26 16:55:53 fib1618: all we need now is for the action to pick up in the volume data
2016-04-26 16:55:59 fib1618: so let's move to those charts
2016-04-26 16:57:01 fib1618: both the NYSE CO and Composite volume MCO's also found zero line support today
2016-04-26 16:57:10 fib1618: with the Composite leading the CO issues to the upside
2016-04-26 16:57:33 fib1618: so that's a promising event for the buyers near term
2016-04-26 16:58:01 fib1618: as we prefer to have volume leading breadth in the direction of the money flow trend
2016-04-26 16:58:44 fib1618: both the CO and Composite volume MCSUM's are above their +1000 levels
2016-04-26 16:59:23 fib1618: and this will tend to keep prices buoyant short term as arm floats would a child in a swimming pool
2016-04-26 16:59:52 fib1618: in both cases
2016-04-26 17:00:18 fib1618: we would need to see more strength near term in an effort to take out last week's blip resistance in the MCO's
2016-04-26 17:00:52 fib1618: and that "should" be enough strength to challenge the high points of last week
2016-04-26 17:01:06 fib1618: take those out...and we then go, go, go
2016-04-26 17:01:30 fib1618: small point change in the NASDAQ volume MCO
2016-04-26 17:01:39 fib1618: as problems continue there
2016-04-26 17:02:14 fib1618: with the texture of the MCO pattern suggesting that the sellers have better control of things right now
2016-04-26 17:02:27 fib1618: and this is suppressing higher prices in the Composite index itself
2016-04-26 17:03:06 fib1618: any break of the lows of April 11th would be a bearish event short term
2016-04-26 17:03:44 fib1618: so let's keep a eye on this over the next couple of days
2016-04-26 17:04:05 fib1618: small point change as well in the NDX volume MCO
2016-04-26 17:05:04 fib1618: with the lows of the 11th important levels of support
2016-04-26 17:05:24 fib1618: now here
2016-04-26 17:05:38 fib1618: when we speak of breadth plurality and EMA's
2016-04-26 17:05:53 fib1618: with the pattern showing less and less MCO values for some time now
2016-04-26 17:06:24 fib1618: any large positive plurality here on the buy side is going to mean a thrust in both the NASDAQ and NDX volume MCO
2016-04-26 17:06:49 fib1618: this is tough
2016-04-26 17:07:06 fib1618: as we have to work with both sides of the analysis here
2016-04-26 17:07:31 fib1618: are these two indices leading to the downside?
2016-04-26 17:08:11 fib1618: or will they be pulled up by their proverbial bootstraps and money will move in in this area of comparable undervaluation?
2016-04-26 17:08:25 fib1618: with the small point changes today
2016-04-26 17:08:39 fib1618: we should have an answer on this by the time we meet again on Thursday
2016-04-26 17:08:52 mojave: I don't love the shape of their McSums
2016-04-26 17:09:02 fib1618: nope
2016-04-26 17:09:09 fib1618: they are a problem
2016-04-26 17:09:19 fib1618: anytime we see patterns roll over like this
2016-04-26 17:09:25 fib1618: but it's not a slam dunk either for a change in direction as this stage
2016-04-26 17:09:38 fib1618: because you have the NYSE group of issues showing strength
2016-04-26 17:09:56 fib1618: and this suggests this to be more of an allocation play
2016-04-26 17:10:05 fib1618: where money continues to support value issues
2016-04-26 17:10:11 fib1618: and shuns growth
2016-04-26 17:10:12 fib1618: now
2016-04-26 17:10:27 fib1618: if the FED announces that they will continue to be accomodative tomorrow
2016-04-26 17:10:42 fib1618: and takes any chance of a rate increase off the table for the rest of the year
2016-04-26 17:10:59 fib1618: that should be enough for money to switch allegiances
2016-04-26 17:11:50 fib1618: moving to the SPX volume MCO
2016-04-26 17:12:09 fib1618: and here we continue to see good structural support with the zero line test
2016-04-26 17:12:20 fib1618: so between all the issues we're working with here
2016-04-26 17:12:45 fib1618: this would mean that its the value stocks in the SPX that are providing the support needed to keep prices from decaying
2016-04-26 17:13:03 fib1618: and if the growth area wakes up
2016-04-26 17:13:18 fib1618: then the all time price highs should be challenged quickly
2016-04-26 17:13:26 fib1618: at this point though
2016-04-26 17:13:38 fib1618: until the NASDAQ actually perks up
2016-04-26 17:13:48 fib1618: we're happy with value issues...multi nationals and dividend stocks
2016-04-26 17:14:16 fib1618: we also note that the SPX volume MCSUM has cleared the +1000 level
2016-04-26 17:14:31 fib1618: and this leadership should allow the breadth MCSUM to follow suit
2016-04-26 17:15:03 fib1618: small point change with the OEX volume MCO
2016-04-26 17:15:09 fib1618: as it also bounced off its zero line today
2016-04-26 17:15:17 fib1618: so between breadth and volume
2016-04-26 17:15:23 fib1618: money continues to move into issues
2016-04-26 17:15:38 fib1618: but not in large sums that would have a more robust effect on prices
2016-04-26 17:15:54 fib1618: looking at the price chart
2016-04-26 17:16:01 fib1618: and we had a mid range close today on the OEX
2016-04-26 17:16:12 fib1618: and with Monday being down (though closing at the highs of the day)
2016-04-26 17:16:21 fib1618: we should have a positive close on Wednesday
2016-04-26 17:16:46 fib1618: the OEX volume MCSUM is also challenging its fall highs here
2016-04-26 17:16:53 mojave: (unweighted & equal-weighted SPX symbols are !unwindspx & $spxew on SC if anyone is curious how they're doing)
2016-04-26 17:17:15 fib1618: pretty amazing how the market stealthy brought itself to these important levels of resistance without too much fanfare
2016-04-26 17:17:31 fib1618: thanks
2016-04-26 17:17:45 fib1618: ah ha!
2016-04-26 17:17:46 fib1618: we have a problem
2016-04-26 17:18:21 fib1618: as the Dow volume MCO has taken out its April 11th lows
2016-04-26 17:18:22 fib1618: however
2016-04-26 17:18:44 fib1618: the Dow volume MCO components remain above their zero lines
2016-04-26 17:19:08 fib1618: could be a wash out point given the broader market strength we've been seeing
2016-04-26 17:19:35 fib1618: especially when much of the sell offs of late are coming with disappointing earnings news
2016-04-26 17:19:59 fib1618: something of which was expected as much as 3 weeks ago given current market conditions
2016-04-26 17:20:22 mojave: & both components > 11 Apr print
2016-04-26 17:20:44 fib1618: let me quickly check the weightings on the Dow
2016-04-26 17:22:13 fib1618: highest weights right now, in order, are 3M, GS, IBM, HD, and United Healthcare
2016-04-26 17:22:38 fib1618: and for those wondering
2016-04-26 17:22:57 fib1618: Apple is 11th on the list with a weighting of 4%
2016-04-26 17:23:23 fib1618: good action today in the MID volume MCO
2016-04-26 17:23:34 fib1618: as it moved crisply back above its zero line today
2016-04-26 17:23:53 fib1618: but needs good follow through by the buyers near term to keep it from failing as the MID volume MCSUM is having its work cut out for it at just above the +750 level
2016-04-26 17:24:42 fib1618: so we need good post expansion here and now to keep today's higher close from reversing
2016-04-26 17:25:07 fib1618: the SML volume MCO looks better
2016-04-26 17:25:22 fib1618: but again stopped short of moving back above the +25 level with any conviction
2016-04-26 17:25:50 fib1618: and with all this knowledge
2016-04-26 17:26:11 fib1618: we see that the TM volume MCO broke below the zero line on Monday
2016-04-26 17:26:20 fib1618: and was only able to snapback to this same zero line today
2016-04-26 17:26:26 fib1618: and is now neutral
2016-04-26 17:26:36 fib1618: with one side about to take control
2016-04-26 17:26:58 fib1618: and that pretty much tells the near term story for traders
2016-04-26 17:27:23 fib1618: as with the TM volume MCSUM at a +856
2016-04-26 17:27:35 fib1618: the sellers have to show some conviction here and now
2016-04-26 17:27:56 fib1618: or we'll likely see the bulls trample over their hides
2016-04-26 17:28:15 fib1618: (interesting metaphor)
2016-04-26 17:28:20 fib1618: so...
2016-04-26 17:28:44 fib1618: it seems like market forces have been leading up to tomorrow's FED policy announcement
2016-04-26 17:29:28 fib1618: with a continued outlook of watching closely how economic activity goes somewhat bearish for the growth sector
2016-04-26 17:30:29 fib1618: and an opposite outlook that we're going back to a fair and balanced approach signaling an easier policy platform until sometime in 2017
2016-04-26 17:30:45 fib1618: and that should kick the growth sector in the back side
2016-04-26 17:30:47 fib1618: technically
2016-04-26 17:31:10 fib1618: we continue to have large levels of liquidity in all of the major asset classes
2016-04-26 17:31:40 fib1618: with the growth sector being left out of the party so far
2016-04-26 17:32:07 fib1618: but we have more than enough now to carry us through much of the month of May
2016-04-26 17:32:19 fib1618: and if we break to new highs on the MCSUM's
2016-04-26 17:32:25 fib1618: probably into the early July period
2016-04-26 17:32:45 fib1618: but we'll to take our clues on this from what we get to work with
2016-04-26 17:32:51 fib1618: moving to the OBV's
2016-04-26 17:33:38 fib1618: and it's interesting to note that both the Dow and NDX STVO's and VTO's are now neutral
2016-04-26 17:34:11 fib1618: while the OEX and SPX are showing elevated data
2016-04-26 17:34:22 fib1618: but not "overbought" in any way
2016-04-26 17:34:52 fib1618: NYSE TRIN at .95
2016-04-26 17:35:04 fib1618: Open 10 at 1.01
2016-04-26 17:35:11 fib1618: and now minimally "oversold"
2016-04-26 17:35:37 fib1618: NASDAQ TRIN at 1.49
2016-04-26 17:35:46 fib1618: Open 10 at 1.08
2016-04-26 17:36:11 fib1618: TM TRIN at 1.43
2016-04-26 17:36:18 fib1618: Open 10 at 1.07
2016-04-26 17:36:23 fib1618: so...
2016-04-26 17:36:31 fib1618: the one thing here is that we're not frothy by any means
2016-04-26 17:36:46 fib1618: as we have all three Open 10's now back below the 1.00 levels
2016-04-26 17:37:03 fib1618: with the TM nearing solid "oversold" levels
2016-04-26 17:37:11 fib1618: so the "on the fly" consolidations are working
2016-04-26 17:37:32 fib1618: in shaking any excesses out of the market as we move along
2016-04-26 17:37:46 fib1618: with the BETS improving again to a +45 reading
2016-04-26 17:38:04 fib1618: in spite of all this fear that we've gone to far and that a correction is needed
2016-04-26 17:38:28 fib1618: it would seem that the liquidity pond has filled high enough now that any bearish surprises will be easily absorbed
2016-04-26 17:38:32 fib1618: and because of this
2016-04-26 17:38:43 fib1618: pullbacks remain buying opportunities
2016-04-26 17:38:52 fib1618: with focus with the value issues
2016-04-26 17:39:09 fib1618: and the hope that we're nearing an important bottom in the growth area
2016-04-26 17:39:12 fib1618: anything else?
2016-04-26 17:39:59 fib1618: just be disciplined and side with the path of least resistance and things should be fine
2016-04-26 17:41:02 fib1618: OK...if there's nothing else
2016-04-26 17:41:05 fib1618: I'm going to take off
2016-04-26 17:41:13 fib1618: everyone have a great couple of days
2016-04-26 17:41:22 fib1618: and we'll see how things all fall out on Thursday
2016-04-26 17:41:24 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:

Copyright 2000-2017 Technical Watch