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fib_1618

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Posts: 4,494
Reply with quote  #1 
2016-05-19 16:01:55 fib1618: good day
2016-05-19 16:02:01 fib1618: how is everyone?
2016-05-19 16:02:17 thespookyone: Great, thanks, nice chop. And you?
2016-05-19 16:02:59 mojave: all good in my 'hood
2016-05-19 16:03:41 fib1618: doing fine...a bit behind though
2016-05-19 16:08:14 fib1618: OK...any questions or comments before we get started??
2016-05-19 16:11:21 fib1618: OK...then let's get SC up and get started
2016-05-19 16:11:51 fib1618: let me check the BETS first
2016-05-19 16:12:42 fib1618: moved down and through the zero line today on the NASDAQ breadth MCSUM
2016-05-19 16:13:21 fib1618: as did the NASDAQ volume MCSUM
2016-05-19 16:13:44 fib1618: +25
2016-05-19 16:13:55 fib1618: so close to going to cash
2016-05-19 16:14:06 fib1618: OK...let's get to it
2016-05-19 16:14:32 fib1618: after trying to hold above last week's lows
2016-05-19 16:14:45 fib1618: the NYSE CO breadth MCO moved to a lower low today
2016-05-19 16:15:00 fib1618: and now has reading of -67
2016-05-19 16:15:26 fib1618: looking at the price structure
2016-05-19 16:15:39 fib1618: and we moved to within 19 points, intraday, from reaching our downside target today
2016-05-19 16:15:55 fib1618: and then rallied into the close
2016-05-19 16:16:00 fib1618: could be a hammer stick?
2016-05-19 16:16:24 mojave: was thinking same
2016-05-19 16:16:25 fib1618: yes...it's a hammer
2016-05-19 16:16:35 mojave: selling absorbed...maybe
2016-05-19 16:16:40 fib1618: just need upside follow through now
2016-05-19 16:16:44 fib1618: could be
2016-05-19 16:16:48 fib1618: also of note
2016-05-19 16:17:07 fib1618: we closed just below the 200 day EMA of the NYA by 4 points
2016-05-19 16:17:23 fib1618: and the EMA "trinity" is now compressing
2016-05-19 16:18:18 fib1618: 8 day ADX though is suggesting that a short term trend to the downside is developing
2016-05-19 16:18:51 fib1618: was there some sort of fear today?
2016-05-19 16:19:09 fib1618: something on interest rates..maybe?
2016-05-19 16:19:45 fib1618: because there was a huge move in the 10 year yesterday
2016-05-19 16:20:10 fib1618: which looks just like an Elliott E wave on the daily
2016-05-19 16:20:14 fib1618: wow
2016-05-19 16:20:16 mojave: well yest FOMC minutes, continued fear today
2016-05-19 16:20:32 fib1618: oh yea
2016-05-19 16:20:35 fib1618: heard about that
2016-05-19 16:20:43 fib1618: caused the market to sell off
2016-05-19 16:20:52 mojave: fear of what? incompetence?
2016-05-19 16:21:03 fib1618: lol
2016-05-19 16:21:13 fib1618: why now?
2016-05-19 16:21:15 fib1618: lol
2016-05-19 16:21:26 fib1618: we're all screwed
2016-05-19 16:21:40 fib1618: that we can agree on
2016-05-19 16:21:42 fib1618: the trick though
2016-05-19 16:21:50 fib1618: is to take advantage of price movements - up or down
2016-05-19 16:21:58 fib1618: and continue to accumulate wealth
2016-05-19 16:22:16 fib1618: to hopefully offset the absolute attack that is going on right now
2016-05-19 16:23:06 fib1618: back to the technicals
2016-05-19 16:23:24 fib1618: looking at the NYSE CO components
2016-05-19 16:23:30 fib1618: and both are now below their zero lines
2016-05-19 16:23:40 fib1618: so if the Composite is in agreement
2016-05-19 16:23:45 fib1618: we will have a solid sell signal
2016-05-19 16:24:12 fib1618: the NYSE CO breadth MCSUM itself moved down and through the +500 level on Wednesday
2016-05-19 16:24:19 fib1618: so we're not getting bullish support
2016-05-19 16:24:48 fib1618: and that would change out blueprint if we see this getting more consistent in our data
2016-05-19 16:24:56 fib1618: moving to the NYSE Composite breadth MCO
2016-05-19 16:25:18 fib1618: and here too we moved to a lower low today out of Tuesday's triangle
2016-05-19 16:25:43 fib1618: finishing with a reading of -67
2016-05-19 16:26:01 fib1618: so the NYSE is now back into sync
2016-05-19 16:26:06 fib1618: that's good news
2016-05-19 16:26:12 fib1618: at least for traders
2016-05-19 16:26:37 fib1618: the 10% Component moved down and through its zero line as well
2016-05-19 16:26:50 fib1618: and that's first time since mid February
2016-05-19 16:27:06 fib1618: so that takes quite a bit of wind out of the sails of the bulls
2016-05-19 16:27:19 fib1618: and with it
2016-05-19 16:27:33 fib1618: the +750 level in the NYSE Composite breadth MCSUM is not likely to hold here
2016-05-19 16:28:02 fib1618: and that, by extension, suggests that the 10,100 level isn't going to hold either
2016-05-19 16:28:05 fib1618: now...
2016-05-19 16:28:14 fib1618: could be the influence of May OPEX
2016-05-19 16:28:30 fib1618: but we have to go with what the market gives us to work with
2016-05-19 16:28:54 fib1618: meanwhile
2016-05-19 16:29:05 fib1618: the NASDAQ breadth MCO has yet to break below its recent lows
2016-05-19 16:29:25 fib1618: though it failed to follow through to the upside today
2016-05-19 16:29:31 fib1618: and now has taken out Tuesday's lows
2016-05-19 16:29:40 fib1618: still compressed
2016-05-19 16:29:50 fib1618: and a real danger given the recent events in the NYSE
2016-05-19 16:30:21 fib1618: a positive looking price bar today
2016-05-19 16:30:39 fib1618: as it took out the intraday lows of two weeks ago intraday
2016-05-19 16:30:51 fib1618: and then finished up back within the latest congestion area
2016-05-19 16:30:57 fib1618: as a chartist
2016-05-19 16:31:16 fib1618: this would suggest some upside follow through now that the stops were taken out and prices rallied
2016-05-19 16:32:10 fib1618: though the downside target of 4650 is within range to where this could be met if the market tries to sync up better
2016-05-19 16:32:37 fib1618: NDX breadth MCSUM also moved below the zero line today
2016-05-19 16:32:52 fib1618: so we have balance here between buyers and sellers
2016-05-19 16:33:03 fib1618: with only a slight advantage to the bears
2016-05-19 16:33:24 fib1618: the NDX components are also compressed
2016-05-19 16:33:38 fib1618: so we're going to get a big move out of this area sooner than later
2016-05-19 16:34:01 fib1618: hmmm....the fear of higher interest rates means bad news for commodities
2016-05-19 16:34:16 fib1618: so the energy stocks probably didn't have a good day
2016-05-19 16:34:25 fib1618: nor the gold stocks..
2016-05-19 16:34:35 fib1618: though this may had all taken place on Wednesday
2016-05-19 16:34:51 fib1618: sorry...been out of the loops since Tuesday, so just thinking out loud
2016-05-19 16:35:16 fib1618: OK...lower low in the SPX breadth MCO
2016-05-19 16:35:19 fib1618: as well as the OEX MCO
2016-05-19 16:35:46 fib1618: also the Dow breadth MCO
2016-05-19 16:36:13 fib1618: well, one thing's for sure
2016-05-19 16:36:21 fib1618: we're cleaning out the plumbing as it were
2016-05-19 16:37:22 fib1618: lots of hammer sticks today
2016-05-19 16:37:29 fib1618: but not a lot of volume behind them
2016-05-19 16:37:50 fib1618: and with the NASDAQ still not making a commitment
2016-05-19 16:38:05 fib1618: there may be another shoe still yet to drop here before we're completely flushed out
2016-05-19 16:38:34 fib1618: now with all that said
2016-05-19 16:38:48 fib1618: please remember that as long as the MCO remains on side of its zero line
2016-05-19 16:38:52 fib1618: and the MCSUM on the other
2016-05-19 16:39:05 fib1618: the only thing prices can do is move sideways...chop
2016-05-19 16:39:27 fib1618: now...the NASDAQ says that a downtrend can now develop
2016-05-19 16:39:45 fib1618: but can the secondaries convince the primaries to do the same?
2016-05-19 16:39:47 fib1618: and if so
2016-05-19 16:40:10 fib1618: it's still going to take a week or (likely) two to get everything "in gear"
2016-05-19 16:40:43 fib1618: the MID breadth MCO is in no man's land
2016-05-19 16:40:52 fib1618: as it moved below its recent lows
2016-05-19 16:41:11 fib1618: but it's still above the lows of two weeks ago
2016-05-19 16:41:35 fib1618: 1420 was a bulls eye today
2016-05-19 16:41:46 fib1618: as we found intraday support
2016-05-19 16:42:01 fib1618: a break though of the 1st week of May lows in the MCO
2016-05-19 16:42:05 fib1618: and 1420 will go with it
2016-05-19 16:42:22 fib1618: with 1400 the next target test
2016-05-19 16:42:53 fib1618: the SML breadth MCO also continues to compress
2016-05-19 16:42:56 fib1618: no breakdown there
2016-05-19 16:43:18 fib1618: but since we moved down and through the +250 level today
2016-05-19 16:43:31 fib1618: a zero line test in the SML breadth MCSUM is probable now
2016-05-19 16:44:03 fib1618: and the TM breadth MCO closed below the -50 level today
2016-05-19 16:44:15 fib1618: so we're minimally "oversold" now
2016-05-19 16:44:52 fib1618: and with the 5% Trend joining the 10% Trend of the TM MCO below its zero line
2016-05-19 16:45:10 fib1618: we have to at least continue to hold any longs that haven't been stopped out already
2016-05-19 16:45:29 fib1618: with no new buying advisable
2016-05-19 16:45:34 fib1618: so...
2016-05-19 16:45:41 fib1618: not a good couple of days for the buyers
2016-05-19 16:45:54 fib1618: as the market attempted to rally early Wednesday, failed
2016-05-19 16:46:06 fib1618: sold off from there during the early morning session
2016-05-19 16:46:09 fib1618: found support
2016-05-19 16:46:17 fib1618: rallied into the FED minutes
2016-05-19 16:46:28 tuna: The volume MCO's have not made new lows
2016-05-19 16:46:28 fib1618: and then promptly said "see you later"
2016-05-19 16:46:38 fib1618: thank you for that
2016-05-19 16:46:48 fib1618: let's run through those while we're thinking of it
2016-05-19 16:47:14 fib1618: no volume
2016-05-19 16:47:20 fib1618: good catch
2016-05-19 16:47:39 fib1618: selling has dried up for the bears
2016-05-19 16:47:40 fib1618: but
2016-05-19 16:47:51 fib1618: there are more and more issues being sold
2016-05-19 16:48:06 fib1618: as the liquidity continues to contract
2016-05-19 16:48:13 fib1618: could be nervousness
2016-05-19 16:48:16 fib1618: could be taking profits
2016-05-19 16:48:25 fib1618: could be a simple case of rotation
2016-05-19 16:49:08 fib1618: selling has been heaviest in the SPX, OEX and SML
2016-05-19 16:49:31 fib1618: the SML wouldn't make much sense going into OPEX (generally speaking)
2016-05-19 16:49:36 fib1618: but the OEX and SPX would
2016-05-19 16:49:50 fib1618: like we've talking about before
2016-05-19 16:50:15 fib1618: a good wretch would be needed to cure the market's ills
2016-05-19 16:50:20 fib1618: could be we had it
2016-05-19 16:50:21 fib1618: but
2016-05-19 16:50:29 fib1618: it wasn't wide spread
2016-05-19 16:50:40 fib1618: and that leaves one too many doors open to make a call
2016-05-19 16:50:57 fib1618: OK...let's see how the sectors are doing
2016-05-19 16:51:24 fib1618: small point change in the XLY breadth MCO
2016-05-19 16:51:32 fib1618: and since its deeply "oversold"
2016-05-19 16:51:52 fib1618: we should expect a nice reflex rally in this basket of issues by Monday
2016-05-19 16:52:13 fib1618: down and though the XLY breadth MCSUM zero line today
2016-05-19 16:52:38 fib1618: with price now meeting our downside targets from 2 or 3 weeks ago
2016-05-19 16:52:51 fib1618: we'll call it two
2016-05-19 16:53:46 fib1618: prices remain above their 200 day EMA
2016-05-19 16:53:59 fib1618: with the EMA's still in a bullish configuration
2016-05-19 16:54:14 fib1618: nice rounding top structure
2016-05-19 16:54:38 fib1618: with daily volume consistent with this view
2016-05-19 16:54:59 fib1618: wow...talk about having your head handed to you
2016-05-19 16:55:13 fib1618: the XLP gave up ALL of its price mark up in the last couple of weeks in 3 days
2016-05-19 16:55:54 fib1618: the 10% Component is, so far, finding support at its zero line
2016-05-19 16:56:17 fib1618: while the XLP breadth MCSUM met a brick wall of resistance at the +1250 level
2016-05-19 16:56:54 fib1618: looks to be a news event(s) that caused this
2016-05-19 16:57:02 fib1618: don't know
2016-05-19 16:57:31 fib1618: but to have the index lose 5% in less than a week, with a +1250 MCSUM, has to be an ambush
2016-05-19 16:58:01 fib1618: so much for my "off the top of my head" theories
2016-05-19 16:58:09 fib1618: as the XLE breadth MCO is holding nicely here
2016-05-19 16:58:28 fib1618: with bottoms above bottoms remaining intact
2016-05-19 16:58:39 fib1618: and the 10% Component bounced off its zero line
2016-05-19 16:59:17 fib1618: got to get the XLE breadth MCO back above the zero line before we can feel more comfortable there
2016-05-19 16:59:51 fib1618: and that goes for all the MCO's...the blip resistance area, the zero lines...as long as they hold, the bears remain in control
2016-05-19 17:00:20 fib1618: technical breakdown in the XLF breadth MCO
2016-05-19 17:00:41 fib1618: and that's completely opposite of what should happen IF the FED was going to raise rates
2016-05-19 17:00:49 fib1618: screwy market
2016-05-19 17:00:56 fib1618: volatile, choppy
2016-05-19 17:01:04 fib1618: indecisive...panic..relief
2016-05-19 17:01:23 fib1618: so many things pushing and pulling here
2016-05-19 17:02:16 fib1618: the XLV looks like money wanting to move into it for safety, but doesn't have the fortitude to do so
2016-05-19 17:02:44 fib1618: bullish divergence in the XLI breadth MCO now
2016-05-19 17:02:57 fib1618: with the downside price target met
2016-05-19 17:03:14 fib1618: but we broke below the +750 level today in the XLI breadth MCSUM
2016-05-19 17:04:05 fib1618: small point change in the XLB breadth MCO
2016-05-19 17:04:27 fib1618: don't like the feel of the pattern though
2016-05-19 17:04:32 fib1618: and if I don't like this one
2016-05-19 17:04:37 fib1618: the MID is also a problem
2016-05-19 17:04:45 fib1618: because they're very similar
2016-05-19 17:06:13 fib1618: it would seem that current price consolidations that we're seeing here are highly important for the bull case
2016-05-19 17:06:49 fib1618: the XLK data is mixed
2016-05-19 17:06:59 fib1618: and the XLU breadth MCO also got clobbered this week
2016-05-19 17:07:25 fib1618: that's FED speak there
2016-05-19 17:07:28 fib1618: got to be
2016-05-19 17:07:52 fib1618: with the good news
2016-05-19 17:07:57 mojave: lotta yield stuff took hits
2016-05-19 17:08:00 fib1618: that we now have a new MCO flag to work with now
2016-05-19 17:08:06 fib1618: I see that...wow
2016-05-19 17:08:21 fib1618: I'll have to read the minutes
2016-05-19 17:08:28 fib1618: in any event
2016-05-19 17:08:32 fib1618: bottom line is
2016-05-19 17:08:48 fib1618: we remain indecisive by and large
2016-05-19 17:08:53 fib1618: within various trading ranges
2016-05-19 17:09:09 fib1618: some of which are very compact right now and ready for an accelerated break
2016-05-19 17:09:30 fib1618: while others have met their downside price targets and are due to rally off these same targets
2016-05-19 17:09:32 fib1618: unless
2016-05-19 17:09:42 fib1618: money continues to see selling pressure
2016-05-19 17:09:57 fib1618: the defensive sectors were taken to the tool shed
2016-05-19 17:10:08 fib1618: as was the the multinationals
2016-05-19 17:10:10 fib1618: which means
2016-05-19 17:10:16 fib1618: ahhh...the dollar must had rallied
2016-05-19 17:10:38 fib1618: yep
2016-05-19 17:10:53 fib1618: it broke out its EMA range that was mentioned on Tuesday to the upside
2016-05-19 17:11:02 fib1618: still...
2016-05-19 17:11:12 fib1618: it remains below its 200 day EMA
2016-05-19 17:11:19 fib1618: so if we take this one step further
2016-05-19 17:12:04 fib1618: it could very well be that market found a way to "force a correction" within the confines of huge amounts of liquidity
2016-05-19 17:12:15 fib1618: so instead of moving around the asset classes
2016-05-19 17:12:22 fib1618: money is back on the sidelines
2016-05-19 17:12:26 fib1618: waiting for more information
2016-05-19 17:12:28 fib1618: could be
2016-05-19 17:12:49 fib1618: that our thoughts of the unwilling sellers still being needed from last week has now come to pass
2016-05-19 17:13:04 fib1618: but all that aside
2016-05-19 17:13:22 fib1618: the internals are much weaker now than they have been
2016-05-19 17:13:33 fib1618: and THAT needs to be respected for what it may imply
2016-05-19 17:13:41 fib1618: let's see how the OBV's look
2016-05-19 17:14:17 fib1618: still a lot of mix readings there
2016-05-19 17:14:36 fib1618: some STVO's are "oversold"
2016-05-19 17:14:38 fib1618: some not
2016-05-19 17:14:50 fib1618: VTO's are playing the same tune
2016-05-19 17:15:05 fib1618: we need more fluidity here
2016-05-19 17:15:17 fib1618: this chop is giving the market the shakes
2016-05-19 17:15:40 fib1618: let's look at the sector OBV's as well
2016-05-19 17:15:46 fib1618: maybe we'll get some clues there
2016-05-19 17:16:04 fib1618: we'll call the XLY bottoming
2016-05-19 17:16:20 fib1618: the XLP over done and due for a reflex rally
2016-05-19 17:16:41 fib1618: XLE neutral
2016-05-19 17:17:06 fib1618: XLF corrective...with a near term rally possible
2016-05-19 17:17:42 fib1618: XLV is mixed
2016-05-19 17:18:05 fib1618: could see continued firmness there, but we need more time
2016-05-19 17:18:29 fib1618: same with the XLI...though a reflex rally is probable near term
2016-05-19 17:19:22 fib1618: same with the XLB
2016-05-19 17:19:25 fib1618: the XLK is a mess
2016-05-19 17:19:41 fib1618: and the XLU should also have a strong reflex rally near term
2016-05-19 17:20:00 fib1618: so no real help...though the XLY might be closest to seeing a tradable bottom now
2016-05-19 17:20:17 fib1618: sigh
2016-05-19 17:20:22 fib1618: NYSE TRIN at .76
2016-05-19 17:20:38 fib1618: buying into the sell off?
2016-05-19 17:20:54 fib1618: intervention?
2016-05-19 17:21:14 mojave: picking a bottom?
2016-05-19 17:21:18 fib1618: Open 10 at 1.04
2016-05-19 17:21:25 fib1618: cherry picking
2016-05-19 17:21:35 fib1618: you know
2016-05-19 17:21:45 fib1618: we were close to our downside targets
2016-05-19 17:21:47 fib1618: why not?
2016-05-19 17:21:58 fib1618: speaking of which
2016-05-19 17:22:06 mojave: been pricing calls... no buys yet
2016-05-19 17:22:07 fib1618: I didn't even notice the SPX and Dow...let me check
2016-05-19 17:22:38 fib1618: downside target for the Dow was met
2016-05-19 17:22:48 fib1618: SPX just pulled up before reaching it
2016-05-19 17:22:53 fib1618: sloppy
2016-05-19 17:23:11 fib1618: gosh
2016-05-19 17:23:17 fib1618: NASDAQ TRIN at .78
2016-05-19 17:23:32 fib1618: Open 10 at .96
2016-05-19 17:23:43 fib1618: TM TRIN at .77
2016-05-19 17:23:52 fib1618: Open 10 at 1.00
2016-05-19 17:24:02 fib1618: well...
2016-05-19 17:24:04 fib1618: at this point
2016-05-19 17:24:11 fib1618: there's no sense in chasing lower
2016-05-19 17:24:24 fib1618: and there's not enough to shop
2016-05-19 17:24:39 fib1618: so standing aside seems to be the best remedy
2016-05-19 17:24:48 fib1618: and we'll see how OPEX goes
2016-05-19 17:24:51 fib1618: right now
2016-05-19 17:24:55 fib1618: bigger picture wise
2016-05-19 17:25:31 fib1618: the interest rate sensitive A/D lines highly suggest that we're going to see higher highs in equities sooner than later
2016-05-19 17:25:44 fib1618: but the timing of this may not be to our liking for next week
2016-05-19 17:26:00 fib1618: lots of warnings though
2016-05-19 17:26:08 fib1618: rounding tops
2016-05-19 17:26:13 fib1618: new lows in the MCO's
2016-05-19 17:26:27 fib1618: breaking natural support areas on the MCSUM's
2016-05-19 17:26:40 fib1618: I guess that's why the BETS suggested to hold last week
2016-05-19 17:26:58 fib1618: for if we get another slap in the face on Friday
2016-05-19 17:27:12 fib1618: it's likely we'll be back to a cash position
2016-05-19 17:27:17 fib1618: we'll see how it goes
2016-05-19 17:27:20 fib1618: anything else?
2016-05-19 17:27:22 thespookyone: If GS doesn't catch a bottom here soon, this last rally in the financials will be more than suspect-and pattern wise, they may be in for some real hurt, imho
2016-05-19 17:27:35 fib1618: let me check
2016-05-19 17:28:00 fib1618: the XLF looked bad today
2016-05-19 17:28:08 fib1618: if interest rates are moving higher
2016-05-19 17:28:22 fib1618: that means bigger profits on lending
2016-05-19 17:28:29 fib1618: so to have the sector sell off
2016-05-19 17:28:35 fib1618: something isn't right
2016-05-19 17:28:42 fib1618: so...
2016-05-19 17:28:45 fib1618: it might be
2016-05-19 17:28:56 fib1618: the FED Statement was used to shake the tree here (?)
2016-05-19 17:29:13 fib1618: and now calmer heads come in and mop up the mess
2016-05-19 17:29:27 fib1618: at this point though
2016-05-19 17:29:32 fib1618: I sure wouldn't buy
2016-05-19 17:29:43 thespookyone: nope
2016-05-19 17:29:47 fib1618: and there's too many indications that we're "oversold"
2016-05-19 17:29:52 fib1618: so I wouldn't short
2016-05-19 17:30:03 fib1618: so I'll take the third positions...stand aside
2016-05-19 17:30:10 thespookyone: information gathering time
2016-05-19 17:30:18 fib1618: yup
2016-05-19 17:30:23 fib1618: problem is though
2016-05-19 17:30:49 fib1618: when the market doesn't do what it's "supposed to do", technically, that's a warning sign that should never be dismissed
2016-05-19 17:31:01 fib1618: since we didn't rally on Wednesday
2016-05-19 17:31:11 fib1618: or even close higher as the data was suggesting
2016-05-19 17:31:33 fib1618: there's something here that hasn't been "vetted" yet
2016-05-19 17:31:46 fib1618: tight stops for now
2016-05-19 17:31:55 fib1618: and if we go to cash...so be it
2016-05-19 17:32:04 fib1618: and if we get weaker
2016-05-19 17:32:10 fib1618: than we'll go that direction as well
2016-05-19 17:32:16 fib1618: we shouldn't care
2016-05-19 17:33:14 fib1618: maybe too many folks are taking "sell in may" to heart [smile]
2016-05-19 17:33:25 thespookyone: I've been trading both ends all week in this chop
2016-05-19 17:33:28 fib1618: liquidity though remains ample
2016-05-19 17:33:37 fib1618: that's the way to do it...hit and run
2016-05-19 17:33:43 fib1618: at least we got that right
2016-05-19 17:33:51 thespookyone: sure did!
2016-05-19 17:34:05 tuna: seems like like its moving down to monthly quarterly support
2016-05-19 17:34:35 fib1618: in what area?
2016-05-19 17:35:01 tuna: the lows of today
2016-05-19 17:35:11 fib1618: oh...compared straight on with April?
2016-05-19 17:35:58 tuna: the retracement from the huge double bottom of Feb
2016-05-19 17:36:12 fib1618: got it
2016-05-19 17:36:34 fib1618: the SPX also bounce off its 20 week EMA today
2016-05-19 17:36:53 fib1618: with the 50 supporting both
2016-05-19 17:37:01 fib1618: could be
2016-05-19 17:37:07 fib1618: with the way things look
2016-05-19 17:37:07 mojave: did I see AAII bulls came in at 19?
2016-05-19 17:37:13 fib1618: and they way we're talking
2016-05-19 17:37:17 fib1618: we've probably bottomed [smile]
2016-05-19 17:37:25 fib1618: checking
2016-05-19 17:37:53 fib1618: bulls at 19.30
2016-05-19 17:38:06 fib1618: that's a good sentiment low
2016-05-19 17:38:15 mojave: 8wk ma = 26
2016-05-19 17:38:24 fib1618: it's the lowest since February
2016-05-19 17:38:50 fib1618: in fact
2016-05-19 17:39:00 mojave: just found this, nice https://www.quandl.com/data/AAII/AAII_SENTIMENT-AAII-Investor-Sentiment-Data
2016-05-19 17:39:03 fib1618: both the January and February lows came with readings below 20
2016-05-19 17:39:38 fib1618: good link...thanks!
2016-05-19 17:40:03 mojave: thank the interwebs!
2016-05-19 17:40:18 fib1618: my only problem here is that we didn't break to new MCO lows across the board
2016-05-19 17:40:34 fib1618: volume is suggesting that we're close to downside exhaustion
2016-05-19 17:40:46 fib1618: just need to get the entire market in agreement
2016-05-19 17:40:47 mojave: may as well 'flag it out' now...
2016-05-19 17:40:55 fib1618: we can only hope
2016-05-19 17:41:05 fib1618: ideally, that is what should see here
2016-05-19 17:41:18 fib1618: so if we do "wretch"
2016-05-19 17:41:23 fib1618: I would be a buyer
2016-05-19 17:41:24 mojave: give us something to work w/
2016-05-19 17:41:26 fib1618: yes
2016-05-19 17:41:47 fib1618: I would scalp...but you have to do your homework before committing
2016-05-19 17:42:11 fib1618: sometimes it's best just to sit back and watch
2016-05-19 17:42:20 fib1618: OK...if there's nothing else
2016-05-19 17:42:24 fib1618: I'm going to take off
2016-05-19 17:42:31 fib1618: everyone have a super weekend
2016-05-19 17:42:36 fib1618: and we'll do this all again on Tuesday
2016-05-19 17:42:38 fib1618: good night


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