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Posts: 5,093
Reply with quote  #1 
2014-05-15 16:00:14 [Message] fib_1618 -> Chat: Good day
2014-05-15 16:00:18 [Message] fib_1618 -> Chat: how is everyone?
2014-05-15 16:01:38 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started?
2014-05-15 16:04:08 [Message] fib_1618 -> Chat: well...let's get DP up and see what kind of damage we have to work with
2014-05-15 16:04:39 [Message] fib_1618 -> Chat: as we kind of expected yesterday
2014-05-15 16:05:03 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO broke its short term series of rising bottoms today
2014-05-15 16:05:17 [Message] fib_1618 -> Chat: but it remains above the spike lows of mid April
2014-05-15 16:05:39 [Message] fib_1618 -> Chat: taking to ruler to monitor
2014-05-15 16:06:13 [Message] fib_1618 -> Chat: and we find that the downside action today stopped right on the intermediate term rising bottoms line on the MCO connecting the February and April lows
2014-05-15 16:06:47 [Message] fib_1618 -> Chat: this line of support becomes somewhat critical for the ongoing bull case
2014-05-15 16:06:53 [Message] fib_1618 -> Chat: as if this is broken
2014-05-15 16:07:06 [Message] fib_1618 -> Chat: then its not likely that the price lows of April will also hold and new downside price targets would then be given by the MCO
2014-05-15 16:07:27 [Message] fib_1618 -> Chat: looking at the components
2014-05-15 16:07:38 [Message] fib_1618 -> Chat: and we see that both moved below their zero line today
2014-05-15 16:08:00 [Message] fib_1618 -> Chat: so the technical expectation here is for at least a snapback to or towards the zero line for the 5% Trend near term
2014-05-15 16:08:51 [Message] fib_1618 -> Chat: and that would provide the technical expectation that this same intermediate term rising bottoms line is likely to hold
2014-05-15 16:08:53 [Message] fib_1618 -> Chat: for now...
2014-05-15 16:09:01 [Message] fib_1618 -> Chat: we have confirmed sell signal with today's sell off
2014-05-15 16:09:17 [Message] fib_1618 -> Chat: and this has caused the CO NYSE breadth MCSUM to gap nicely to the downside and we'll have to monitor the progress as we have now opened the door to a full on challenge of the MCSUM zero line over the next couple of weeks
2014-05-15 16:10:19 [Message] fib_1618 -> Chat: moving to the NYSE Composite breadth MCO
2014-05-15 16:10:44 [Message] fib_1618 -> Chat: and here we also have a break below short term rising bottoms line today
2014-05-15 16:11:29 [Message] fib_1618 -> Chat: but the intermediate term line of support is still in play here
2014-05-15 16:11:32 [Message] fib_1618 -> Chat: in fact
2014-05-15 16:11:36 [Message] fib_1618 -> Chat: we closed just above it today
2014-05-15 16:11:57 [Message] fib_1618 -> Chat: this would be the one connecting the lows from August of last year
2014-05-15 16:12:21 [Message] fib_1618 -> Chat: looking at the NYSE Composite components
2014-05-15 16:12:33 [Message] fib_1618 -> Chat: and we see that we remain above the zero line with both Trends
2014-05-15 16:12:49 [Message] fib_1618 -> Chat: and with a reading of +14 on the 10% Trend
2014-05-15 16:13:05 [Message] fib_1618 -> Chat: we're getting close to some sort of reflex bounce here near term
2014-05-15 16:13:39 [Message] fib_1618 -> Chat: while allowing for some further softness on Friday where a test of the zero line itself might be needed before this same technical bounce occurs
2014-05-15 16:14:01 [Message] fib_1618 -> Chat: putting ruler again to monitor
2014-05-15 16:14:47 [Message] fib_1618 -> Chat: we also see that the accelerated rising bottoms line connecting the December, February and April lows was broken to the downside today in the NYSE Composite breadth MCSUM
2014-05-15 16:15:15 [Message] fib_1618 -> Chat: so it's now likely that we're on our way to the +500 level over the next 7-10 trading days
2014-05-15 16:15:58 [Message] fib_1618 -> Chat: what will be important is whether or not the sellers will be able to finally put a string of successive days in which they can control the flow of money or not
2014-05-15 16:16:08 [Message] fib_1618 -> Chat: and on that note
2014-05-15 16:16:44 [Message] fib_1618 -> Chat: whether they will then be able to break the longer term support line controlling this same MCSUM pattern going back to early September of last year
2014-05-15 16:17:25 [Message] fib_1618 -> Chat: which crosses at around the (coincidentally?) +500 level
2014-05-15 16:18:00 [Message] fib_1618 -> Chat: moving to the NASDAQ breadth MCO
2014-05-15 16:18:30 [Message] fib_1618 -> Chat: and Wednesday's breakdown did tip us off to a possible weak day today
2014-05-15 16:18:35 [Message] fib_1618 -> Chat: but interestingly enough
2014-05-15 16:18:41 [Message] fib_1618 -> Chat: we did NOT move to lower lows today
2014-05-15 16:18:56 [Message] fib_1618 -> Chat: and if this continues
2014-05-15 16:19:35 [Message] fib_1618 -> Chat: this would be our first real substantive observation that selling is drying up on the NASDAQ Composite itself
2014-05-15 16:20:17 [Message] fib_1618 -> Chat: which is something of which the bulls would ideally like to see so that the general market can again be in good sync in order to provide a stable price trend to the upside
2014-05-15 16:20:59 [Message] fib_1618 -> Chat: the NASDAQ breadth MCSUM is now technically "oversold" with a reading today of -532
2014-05-15 16:21:26 [Message] fib_1618 -> Chat: and with sentiment getting a little frothy today on only the SECOND straight day of decline
2014-05-15 16:22:14 [Message] fib_1618 -> Chat: this evidence is suggesting that a price low is actually being created and one would need to be cautious on taking any new short positions in this marketplace
2014-05-15 16:22:41 [Message] fib_1618 -> Chat: even the NDX breadth MCO broke down today
2014-05-15 16:23:00 [Message] fib_1618 -> Chat: though at -40 it's not as yet in "oversold" territory
2014-05-15 16:23:14 [Message] fib_1618 -> Chat: and like the NASDAQ Composite itself
2014-05-15 16:24:05 [Message] fib_1618 -> Chat: this might be indicating that we maybe closer to a correctional low than we are at the start of anything that would become unfriendly towards traders overall
2014-05-15 16:24:24 [Message] fib_1618 -> Chat: for now
2014-05-15 16:24:43 [Message] fib_1618 -> Chat: the important level to watch for in the way of support would be around the +200 level in the NDX breadth MCSUM
2014-05-15 16:25:15 [Message] fib_1618 -> Chat: and near term
2014-05-15 16:25:19 [Message] fib_1618 -> Chat: the MCSUM lows of last week
2014-05-15 16:25:57 [Message] fib_1618 -> Chat: where a break there would then allow prices to break the horizontal support area at the 3500 level
2014-05-15 16:26:28 [Message] fib_1618 -> Chat: rally failure confirmation today in the SPX breadth MCO
2014-05-15 16:26:45 [Message] fib_1618 -> Chat: as it moved sharply below the lows of last week today
2014-05-15 16:27:35 [Message] fib_1618 -> Chat: and where the important level to watch for support would be the mid April spike lows
2014-05-15 16:27:45 [Message] fib_1618 -> Chat: for as we touched on earlier in the week
2014-05-15 16:28:06 [Message] fib_1618 -> Chat: in order for this pattern structure to be wave C in an irregular flat formation
2014-05-15 16:28:20 [Message] fib_1618 -> Chat: the MCO will need to diverge with these same April lows
2014-05-15 16:29:05 [Message] fib_1618 -> Chat: for now...the lack of the 5% Trend to move below its zero line today suggests that we continue to be correcting here
2014-05-15 16:29:43 [Message] fib_1618 -> Chat: with a challenge of the 1830 level in the SPX as being possible, but not probable
2014-05-15 16:30:27 [Message] fib_1618 -> Chat: pretty much the same situation with the OEX breadth MCO and it's components
2014-05-15 16:30:32 [Message] fib_1618 -> Chat: and as we also notice
2014-05-15 16:31:04 [Message] fib_1618 -> Chat: the +1000 level on the OEX breadth MCSUM did indeed prove to be too much to overcome
2014-05-15 16:31:46 [Message] fib_1618 -> Chat: so a probable trip toward the +750 is highly expected now
2014-05-15 16:32:57 [Message] fib_1618 -> Chat: moving to the Dow breadth MCO
2014-05-15 16:33:05 [Message] fib_1618 -> Chat: and we see that it did not move to lower lows today
2014-05-15 16:33:34 [Message] fib_1618 -> Chat: while the 5% Trend Dow MCO component here remains above its zero line
2014-05-15 16:33:50 [Message] fib_1618 -> Chat: one should expect to see the Dow MCO move to a lower low though
2014-05-15 16:34:34 [Message] fib_1618 -> Chat: but it may not be much more after that as we have multiple lows of horizontal support in play here as well at around the -75 level
2014-05-15 16:35:13 [Message] fib_1618 -> Chat: however, it should be duly noted that today's move lower in the Dow MCO was enough to break the Dow breadth MCSUM out of its tight range to the downside
2014-05-15 16:35:43 [Message] fib_1618 -> Chat: and the next downside target there, before we'll likely find some support, will be the +500 level
2014-05-15 16:36:21 [Message] fib_1618 -> Chat: and not surprising at all
2014-05-15 16:36:44 [Message] fib_1618 -> Chat: the MID breadth MCO continued lower today after leading off on Wednesday to the downside
2014-05-15 16:37:04 [Message] fib_1618 -> Chat: but it remains well above the mid April MCO lows as of now
2014-05-15 16:37:21 [Message] fib_1618 -> Chat: and we had a mid range close as well
2014-05-15 16:37:30 [Message] fib_1618 -> Chat: showing that selling dried up quickly today
2014-05-15 16:37:50 [Message] fib_1618 -> Chat: though the intermediate term flow of money
2014-05-15 16:37:55 [Message] fib_1618 -> Chat: as measured by the MID breadth MCSUM
2014-05-15 16:38:02 [Message] fib_1618 -> Chat: did gap to the downside today
2014-05-15 16:38:14 [Message] fib_1618 -> Chat: so with a +342 reading
2014-05-15 16:38:43 [Message] fib_1618 -> Chat: we'll see if it can hold horizontal and natural support when it approaches the +250 level
2014-05-15 16:38:53 [Message] fib_1618 -> Chat: again...we have to remind ourselves
2014-05-15 16:39:07 [Message] fib_1618 -> Chat: that as long as the great majority of MCSUM's remain above their zero lines
2014-05-15 16:39:12 [Message] fib_1618 -> Chat: the buyers still have control here intermediate term
2014-05-15 16:39:39 [Message] fib_1618 -> Chat: and it's up to the sellers to keep the pressure on if they are going to be able to flip this
2014-05-15 16:40:21 [Message] fib_1618 -> Chat: as was pretty much the expectation on Wednesday when we saw that the SML breadth MCSUM moved below its -250 support level
2014-05-15 16:40:34 [Message] fib_1618 -> Chat: as the SML breadth MCO continued to dig lower today
2014-05-15 16:40:57 [Message] fib_1618 -> Chat: but the technical damage was not as acute as it was with the large caps
2014-05-15 16:41:00 [Message] fib_1618 -> Chat: of course
2014-05-15 16:42:00 [Message] fib_1618 -> Chat: this can be pointed to idea that the NASDAQ, SML, and to a smaller degree the MID, all have been weaker than the large caps during our one month rally from mid April to mid May
2014-05-15 16:42:17 [Message] fib_1618 -> Chat: so it does make good sense that if this actually IS a corrective sequence
2014-05-15 16:42:48 [Message] fib_1618 -> Chat: the large caps will show greater weakness in trying to reset this intermarket inconsistency
2014-05-15 16:43:45 [Message] fib_1618 -> Chat: and that those issues that have all ready been heavily sold will now start to firm up a bit in the markets way of creating a more stable internal base from which it can eventually rally off of
2014-05-15 16:44:15 [Message] fib_1618 -> Chat: sort of like we talked about yesterday with one leg of the ladder on solid footing while the other was in soft dirt
2014-05-15 16:44:44 [Message] fib_1618 -> Chat: so now we're in the process of repositioning the ladder so that (hopefully) both legs will have solid support
2014-05-15 16:44:50 [Message] fib_1618 -> Chat: now...
2014-05-15 16:45:01 [Message] fib_1618 -> Chat: all of this is what should be taking place here
2014-05-15 16:45:18 [Message] fib_1618 -> Chat: but if we do continue to see breaks below the mid April MCO lows
2014-05-15 16:45:29 [Message] fib_1618 -> Chat: then we have a whole new animal to play with
2014-05-15 16:45:57 [Message] fib_1618 -> Chat: and the TM breadth MCO also broke below last week's lows
2014-05-15 16:46:42 [Message] fib_1618 -> Chat: but it too remains above the April lows and the rising bottoms line going back to February of this year
2014-05-15 16:46:45 [Message] fib_1618 -> Chat: so...
2014-05-15 16:46:55 [Message] fib_1618 -> Chat: a good follow through day by the bears
2014-05-15 16:47:13 [Message] fib_1618 -> Chat: where they were able to take control of the ball
2014-05-15 16:47:43 [Message] fib_1618 -> Chat: but didn't quite get enough yardage as yet where they could threaten to score
2014-05-15 16:48:02 [Message] fib_1618 -> Chat: we'll call them at the bulls 40 yard line for now
2014-05-15 16:48:56 [Message] fib_1618 -> Chat: and we'll keep an eye on the secondaries here to see whether or not their defense begins to toughen up and make it more of a running game for the bears instead of going for the long ball
2014-05-15 16:49:22 [Message] fib_1618 -> Chat: moving to the volume McClellan's and looking for downside confirmation
2014-05-15 16:49:59 [Message] fib_1618 -> Chat: and we see that both the NYSE CO and Composite MCO's moved lower today
2014-05-15 16:50:16 [Message] fib_1618 -> Chat: but didn't quite have the amplitude that was seen with breadth
2014-05-15 16:51:08 [Message] fib_1618 -> Chat: we can partially see this when we compare the current position of the CO volume components with that of those of breadth
2014-05-15 16:52:00 [Message] fib_1618 -> Chat: where the 5% Trend is only at just below its zero line
2014-05-15 16:52:41 [Message] fib_1618 -> Chat: no less the mid April lows in the CO and Composite volume MCSUM's are only being challenged right now
2014-05-15 16:53:04 [Message] fib_1618 -> Chat: and not broken below these levels as they were in the breadth charts
2014-05-15 16:53:18 [Message] fib_1618 -> Chat: keeping in mind
2014-05-15 16:53:33 [Message] fib_1618 -> Chat: that breadth gives us a sense of how high the water level is in the lake
2014-05-15 16:54:02 [Message] fib_1618 -> Chat: while volume is the motor and wheel that pushes us across this same liquidity pool
2014-05-15 16:54:24 [Message] fib_1618 -> Chat: so without this volume component
2014-05-15 16:54:49 [Message] fib_1618 -> Chat: it makes it hard for price to move in the direction of breadth in any important way
2014-05-15 16:55:06 [Message] fib_1618 -> Chat: which was pretty much the problem we had on Tuesday
2014-05-15 16:55:41 [Message] fib_1618 -> Chat: as we didn't see new short term highs in these volume MCO confirming the new price pattern highs in the large caps
2014-05-15 16:56:11 [Message] fib_1618 -> Chat: looking at the NASDAQ volume MCO
2014-05-15 16:56:18 [Message] fib_1618 -> Chat: and here too we did not move to new lows today
2014-05-15 16:57:19 [Message] fib_1618 -> Chat: and since we have weathered a potential collapse in prices since the NASDAQ volume MCSUM moved down and through its zero line last week, snapped back, and moved to a lower low
2014-05-15 16:57:55 [Message] fib_1618 -> Chat: this is very good news for the bulls as it does suggest that we're not likely to see too much more in the way of price decay as long as the volume MCO can hold its current levels
2014-05-15 16:58:39 [Message] fib_1618 -> Chat: the NDX volume MCO also moved to lower lows today
2014-05-15 16:58:48 [Message] fib_1618 -> Chat: but remains above its April least for now
2014-05-15 16:58:51 [Message] fib_1618 -> Chat: again...
2014-05-15 16:58:53 [Message] fib_1618 -> Chat: if this holds here
2014-05-15 16:59:17 [Message] fib_1618 -> Chat: then we are in the process are setting a "keystone" for our internal foundation
2014-05-15 16:59:48 [Message] fib_1618 -> Chat: though it will likely take the better part of the next week or so to pour the concrete and set it
2014-05-15 17:00:00 [Message] fib_1618 -> Chat: BTW
2014-05-15 17:00:13 [Message] fib_1618 -> Chat: those who have been around for a while will know "DOC"
2014-05-15 17:00:54 [Message] fib_1618 -> Chat: who took over the Hurst Cycle work when "Airedale" passed away a couple of years ago
2014-05-15 17:00:56 [Message] fib_1618 -> Chat: anyway
2014-05-15 17:01:02 [Message] fib_1618 -> Chat: he sent me a chart this morning
2014-05-15 17:01:09 [Message] fib_1618 -> Chat: and long story short
2014-05-15 17:01:22 [Message] fib_1618 -> Chat: the 20 week Hurst Cycle is due to bottom around the end of May
2014-05-15 17:02:03 [Message] fib_1618 -> Chat: and an important cycle nesting like this is liable to put some sort of exclamation mark on a price low as it did in October of last year
2014-05-15 17:02:34 [Message] fib_1618 -> Chat: so this is something in which we'll have to see if it fits with what's going to happen over the next couple of weeks
2014-05-15 17:03:22 [Message] fib_1618 -> Chat: after showing a top beneath a top on Tuesday
2014-05-15 17:03:42 [Message] fib_1618 -> Chat: both the SPX and OEX volume MCO's also showed weakness today
2014-05-15 17:03:46 [Message] fib_1618 -> Chat: but once again
2014-05-15 17:04:00 [Message] fib_1618 -> Chat: we did not take out the early April lows in this process
2014-05-15 17:04:24 [Message] fib_1618 -> Chat: same with the Dow volume MCO
2014-05-15 17:05:02 [Message] fib_1618 -> Chat: as both the Dow and SPX volume MCSUM's negotiate lower in and around their +500 level
2014-05-15 17:05:11 [Message] fib_1618 -> Chat: and like we've seen in the past
2014-05-15 17:05:49 [Message] fib_1618 -> Chat: when we move though these natural areas of support or resistance (the 250 MCSUM multiples) we can see higher amplitude moves in prices
2014-05-15 17:06:33 [Message] fib_1618 -> Chat: both the MID and SML volume MCO's also moved sharply lower today
2014-05-15 17:06:58 [Message] fib_1618 -> Chat: breaking their short term rising bottoms lines
2014-05-15 17:07:14 [Message] fib_1618 -> Chat: we also saw the SML volume MCSUM move down and through its zero line today
2014-05-15 17:07:46 [Message] fib_1618 -> Chat: which, when we look at the price chart, was the main reason why we gaped lower at the open today as control moved from the buyers to the sellers
2014-05-15 17:08:03 [Message] fib_1618 -> Chat: but on the positive side
2014-05-15 17:08:27 [Message] fib_1618 -> Chat: we did close near the higher end of the price range today when all was settled
2014-05-15 17:08:56 [Message] fib_1618 -> Chat: and one would have to think that if this was just the beginning of a more important price top
2014-05-15 17:09:06 [Message] fib_1618 -> Chat: given the breaks of MCO and MCSUM support
2014-05-15 17:09:19 [Message] fib_1618 -> Chat: we shouldn't had been able to close near the highs of the day
2014-05-15 17:09:26 [Message] fib_1618 -> Chat: maybe a fluke
2014-05-15 17:09:33 [Message] fib_1618 -> Chat: but let's keep an eye on this tomorrow
2014-05-15 17:10:09 [Message] fib_1618 -> Chat: and a lower low in the TM volume MCO
2014-05-15 17:10:24 [Message] fib_1618 -> Chat: but we still remain above the important mid April lows
2014-05-15 17:11:21 [Message] fib_1618 -> Chat: and as long as the MCSUM remains in positive territory and the MCO's remain negative, all we're likely to see, price wise, is a trading range
2014-05-15 17:11:38 [Message] fib_1618 -> Chat: and we see this range quite distinctly when looking at the one year chart
2014-05-15 17:11:46 [Message] fib_1618 -> Chat: so...
2014-05-15 17:12:17 [Message] fib_1618 -> Chat: it would seem much of the sell off today was concentrated more in the value stocks while the growth stocks absorbed much of the punishment given
2014-05-15 17:13:28 [Message] fib_1618 -> Chat: and if we continue to see the secondaries and the SML hold in here without moving to new MCO lows
2014-05-15 17:14:13 [Message] fib_1618 -> Chat: this would then highly suggest that this pullback, no matter how deep it might turn out to be, is more in keeping of setting a price bottom from where prices can indeed rally instead of something that would be more corrective in scope
2014-05-15 17:14:20 [Message] fib_1618 -> Chat: the's simple
2014-05-15 17:14:31 [Message] fib_1618 -> Chat: any break below the mid April lows in any or all of the MCO's
2014-05-15 17:14:46 [Message] fib_1618 -> Chat: and then the sellers will have control for probably a month
2014-05-15 17:14:58 [Message] fib_1618 -> Chat: and given where we are in the calendar
2014-05-15 17:15:21 [Message] fib_1618 -> Chat: the most likely time target would be when June OPEX falls on June 20th
2014-05-15 17:15:38 [Message] fib_1618 -> Chat: let's see how the volume oscillators fared
2014-05-15 17:16:11 [Message] fib_1618 -> Chat: the CVI's are not climactic as yet
2014-05-15 17:16:29 [Message] fib_1618 -> Chat: so this is something that can still be done on Friday
2014-05-15 17:16:43 [Message] fib_1618 -> Chat: STVO's are now neutral
2014-05-15 17:17:00 [Message] fib_1618 -> Chat: and the VTO's are as well as they were "aired out" today
2014-05-15 17:17:30 [Message] fib_1618 -> Chat: so, if anything, it's not likely that we're going to see another attempt to test this weeks highs until next week at the earliest
2014-05-15 17:17:44 [Message] fib_1618 -> Chat: NYSE TRIN at 1.75
2014-05-15 17:18:01 [Message] fib_1618 -> Chat: (would had been nice for the bulls if it moved to 2.00 or above...oh well)
2014-05-15 17:18:17 [Message] fib_1618 -> Chat: Open 10 at 1.11
2014-05-15 17:18:39 [Message] fib_1618 -> Chat: so we're back to being highly "oversold" now
2014-05-15 17:18:47 [Message] fib_1618 -> Chat: and that should keep things from falling apart
2014-05-15 17:18:56 [Message] fib_1618 -> Chat: (much to the frustration of the bears, I'm sure)
2014-05-15 17:19:09 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.20
2014-05-15 17:19:20 [Message] fib_1618 -> Chat: Open 10 at 1.01
2014-05-15 17:19:33 [Message] fib_1618 -> Chat: so we're back to being minimally "oversold" there
2014-05-15 17:19:45 [Message] fib_1618 -> Chat: TM TRIN at 1.31
2014-05-15 17:19:53 [Message] fib_1618 -> Chat: Open 10 at 1.11
2014-05-15 17:20:02 [Message] fib_1618 -> Chat: so highly "oversold" there
2014-05-15 17:20:11 [Message] fib_1618 -> Chat: let's see who's holding up here
2014-05-15 17:20:20 [Message] fib_1618 -> Chat: or even leading to the downside
2014-05-15 17:20:57 [Message] fib_1618 -> Chat: banks continue to have their problems
2014-05-15 17:21:12 [Message] fib_1618 -> Chat: but that's not surprising given that interest rates continue to move lower
2014-05-15 17:21:16 [Message] fib_1618 -> Chat: which reminds me
2014-05-15 17:21:31 [Message] fib_1618 -> Chat: let me check to see if our downside objective of 2.48% was met today or not
2014-05-15 17:21:46 [Message] fib_1618 -> Chat: 2.47%
2014-05-15 17:21:48 [Message] fib_1618 -> Chat: bingo
2014-05-15 17:22:04 [Message] fib_1618 -> Chat: nice call from the NYSE Bond CEF A/D line back in December of last year
2014-05-15 17:22:23 [Message] fib_1618 -> Chat: any break below 2.44% and I do believe the next level of support is around 2.15%
2014-05-15 17:22:34 [Message] fib_1618 -> Chat: I'll review this with this weekend's breadth charts review
2014-05-15 17:22:57 [Message] fib_1618 -> Chat: Biotech continues to consolidate below its EMA's
2014-05-15 17:23:06 [Message] fib_1618 -> Chat: so nothing bullish there
2014-05-15 17:23:27 [Message] fib_1618 -> Chat: BIK is bucking the weakness here
2014-05-15 17:23:41 [Message] fib_1618 -> Chat: and that could be an tip off that emerging markets may have already stabilized
2014-05-15 17:24:39 [Message] fib_1618 -> Chat: the US Dollar, which was strong over the last week, had a reversal bar today
2014-05-15 17:24:50 [Message] fib_1618 -> Chat: that should help stabilize equity prices near term
2014-05-15 17:25:50 [Message] fib_1618 -> Chat: natural gas and green energy is starting to look toppy here
2014-05-15 17:26:12 [Message] fib_1618 -> Chat: EFA is hanging in there
2014-05-15 17:26:23 [Message] fib_1618 -> Chat: could be a whisper for the bulls
2014-05-15 17:26:50 [Message] fib_1618 -> Chat: gold is tightly compressed right now...big move coming very soon
2014-05-15 17:27:44 [Message] fib_1618 -> Chat: GAF is looking good
2014-05-15 17:27:45 [Message] fib_1618 -> Chat: in fact
2014-05-15 17:27:53 [Message] fib_1618 -> Chat: the global indices are NOT falling apart here
2014-05-15 17:27:56 [Message] fib_1618 -> Chat: they are stable
2014-05-15 17:28:01 [Message] fib_1618 -> Chat: (hint hint)
2014-05-15 17:28:24 [Message] fib_1618 -> Chat: REITS are hanging tough
2014-05-15 17:28:39 [Message] fib_1618 -> Chat: love the large yields there
2014-05-15 17:29:43 [Message] fib_1618 -> Chat: telecom still doing well
2014-05-15 17:30:59 [Message] fib_1618 -> Chat: transportation stocks are still in a bullish configuration
2014-05-15 17:31:04 [Message] fib_1618 -> Chat: no break down there
2014-05-15 17:31:26 [Message] fib_1618 -> Chat: and I can't think of a time where we've had a market top without the Transports leading lower
2014-05-15 17:32:56 [Message] fib_1618 -> Chat: would sure like to see a good old fashioned "flush" in the precious metals
2014-05-15 17:33:07 [Message] fib_1618 -> Chat: this drip, drip, drip is not a good thing for the bulls
2014-05-15 17:34:37 [Message] fib_1618 -> Chat: BAC has now lost 24% in 2 months
2014-05-15 17:34:39 [Message] fib_1618 -> Chat: ugh
2014-05-15 17:35:28 [Message] fib_1618 -> Chat: and everything else is basically moving sideways...waiting for direction
2014-05-15 17:35:36 [Message] fib_1618 -> Chat: checking the prelim on the BETS
2014-05-15 17:36:42 [Message] fib_1618 -> Chat: +25
2014-05-15 17:37:06 [Message] fib_1618 -> Chat: so just below last weekend's +30 (hold long with protective bearish stops)
2014-05-15 17:37:15 [Message] fib_1618 -> Chat: and that's about it
2014-05-15 17:37:19 [Message] fib_1618 -> Chat: anything else?
2014-05-15 17:38:25 [Message] fib_1618 -> Chat: remember that we finally go back to a Tuesday/Thursday format for a while starting next week
2014-05-15 17:38:39 [Message] fib_1618 -> Chat: but I will keep the schedule up as a matter of routine
2014-05-15 17:39:10 [Message] fib_1618 -> Chat: OK...if there's nothing else
2014-05-15 17:39:15 [Message] fib_1618 -> Chat: I'm going to take off
2014-05-15 17:39:21 [Message] fib_1618 -> Chat: everyone have a great weekend
2014-05-15 17:39:28 [Message] fib_1618 -> Chat: and we'll do this all again next Tuesday
2014-05-15 17:39:29 [Message] fib_1618 -> Chat: good night

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