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fib_1618

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Posts: 4,495
Reply with quote  #1 
2014-09-04 15:59:52 [Message] fib_1618 -> Chat: good day
2014-09-04 15:59:56 [Message] fib_1618 -> Chat: how is everyone?
2014-09-04 16:03:02 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2014-09-04 16:03:28 [Message] fib_1618 -> Chat: and everyone saw that I got stopped out today on the gold position?
2014-09-04 16:03:52 [Message] thespookyone -> Chat: yep
2014-09-04 16:03:52 [Message] rite01 -> Chat: Yes Tues when the SML and SPX not moving to same degree you were
2014-09-04 16:04:21 [Message] fib_1618 -> Chat: lost .85 on NUGT...not a bad trade considering
2014-09-04 16:04:35 [Message] fib_1618 -> Chat: unfortunately for the gold bugs
2014-09-04 16:04:48 [Message] fib_1618 -> Chat: it looks like they'll have to wait until November now
2014-09-04 16:05:06 [Message] rite01 -> Chat: referring to the MCO breadth not reaching recent highs where volume did but since volume did this usually means higher prices anyway?
2014-09-04 16:05:34 [Message] fib_1618 -> Chat: it can
2014-09-04 16:05:52 [Message] fib_1618 -> Chat: it all depends on which the direction the A/D and U/D lines are moving
2014-09-04 16:06:22 [Message] rite01 -> Chat: OK
2014-09-04 16:06:30 [Message] fib_1618 -> Chat: you have to also consider a "weighting" problem as well
2014-09-04 16:06:38 [Message] fib_1618 -> Chat: for example
2014-09-04 16:06:55 [Message] fib_1618 -> Chat: IBM's weighting on the Dow is something like 11%
2014-09-04 16:07:04 [Message] fib_1618 -> Chat: if it's up volume is carrying the average
2014-09-04 16:07:20 [Message] fib_1618 -> Chat: but the majority of the remaining 29 Dow stocks are moving lower...
2014-09-04 16:07:27 [Message] fib_1618 -> Chat: see what I mean?
2014-09-04 16:07:54 [Message] rite01 -> Chat: Yes and it's so far
2014-09-04 16:08:31 [Message] fib_1618 -> Chat: remember that the MCO and MCSUM measures the velocity of money that is reflected by the cumulative total of advancing stocks over decliners (breadth) and up volume over down volume (volume)
2014-09-04 16:08:35 [Message] rite01 -> Chat: There is a lot more to learn
2014-09-04 16:08:50 [Message] fib_1618 -> Chat: first and foremost
2014-09-04 16:08:58 [Message] fib_1618 -> Chat: you need to know the direction in which money is flowing
2014-09-04 16:09:05 [Message] fib_1618 -> Chat: and we do this by looking at the cumulative charts
2014-09-04 16:09:09 [Message] fib_1618 -> Chat: and from there
2014-09-04 16:09:23 [Message] fib_1618 -> Chat: the McClellan's measure how fast or how slow this same money is moving
2014-09-04 16:10:01 [Message] fib_1618 -> Chat: and from that we ascertain the direction of price and for approximately how long it take before it will exhaust itself
2014-09-04 16:10:23 [Message] fib_1618 -> Chat: simple d dimple
2014-09-04 16:10:49 [Message] rite01 -> Chat: Easy for you to say but I'm learning little by little
2014-09-04 16:10:56 [Message] fib_1618 -> Chat: sure it is..
2014-09-04 16:11:03 [Message] fib_1618 -> Chat: I've been doing this for close to 40 years!
2014-09-04 16:11:04 [Message] fib_1618 -> Chat: [smile]
2014-09-04 16:11:14 [Message] fib_1618 -> Chat: but your disadvantage is...
2014-09-04 16:11:32 [Message] fib_1618 -> Chat: you haven't worked the tools in a bear environment as yet
2014-09-04 16:11:47 [Message] fib_1618 -> Chat: all of this is sort of one sided
2014-09-04 16:12:00 [Message] fib_1618 -> Chat: there's no rush
2014-09-04 16:12:01 [Message] rite01 -> Chat: Yes that's right but looking forward to it by
2014-09-04 16:12:14 [Message] fib_1618 -> Chat: for many
2014-09-04 16:12:21 [Message] fib_1618 -> Chat: all we care about is direction
2014-09-04 16:12:25 [Message] rite01 -> Chat: staying tuned right here.
2014-09-04 16:12:33 [Message] fib_1618 -> Chat: bull, bear, are just descriptors and why I use them sparingly
2014-09-04 16:12:48 [Message] fib_1618 -> Chat: you can always make money both ways
2014-09-04 16:13:02 [Message] fib_1618 -> Chat: especially nowadays
2014-09-04 16:13:11 [Message] fib_1618 -> Chat: so many products available
2014-09-04 16:13:36 [Message] fib_1618 -> Chat: that to trade based on one idea fully defeats the purpose of "trading"
2014-09-04 16:13:58 [Message] fib_1618 -> Chat: OK...let's get SC up and get cracking
2014-09-04 16:14:41 [Message] fib_1618 -> Chat: after failing to move above its short term declining tops line on Wednesday
2014-09-04 16:14:51 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO moved sharply lower today
2014-09-04 16:15:05 [Message] fib_1618 -> Chat: and we now have a small series of tops beneath tops controlling the MCO pattern
2014-09-04 16:15:20 [Message] fib_1618 -> Chat: because of this same lack of strength
2014-09-04 16:15:31 [Message] fib_1618 -> Chat: prices in the NYA could only challenge their all time highs
2014-09-04 16:15:42 [Message] fib_1618 -> Chat: but it couldn't stay above them with this same lack of internal support
2014-09-04 16:16:03 [Message] fib_1618 -> Chat: and a large outside range day resulted
2014-09-04 16:16:15 [Message] fib_1618 -> Chat: unfortunately for the buyers
2014-09-04 16:16:28 [Message] fib_1618 -> Chat: not only did we close below yesterday's close but also Tuesday's close
2014-09-04 16:16:43 [Message] fib_1618 -> Chat: so this would highly suggest that we will see some carry over on Friday and close lower
2014-09-04 16:16:50 [Message] fib_1618 -> Chat: now...remember
2014-09-04 16:17:04 [Message] fib_1618 -> Chat: even if it's a .01 lower...this would meet this technical expectation
2014-09-04 16:17:11 [Message] fib_1618 -> Chat: and with all range bars
2014-09-04 16:17:26 [Message] fib_1618 -> Chat: this forecast is only valid for the next trading day only
2014-09-04 16:17:36 [Message] fib_1618 -> Chat: so nothing here saying top at this point
2014-09-04 16:17:43 [Message] fib_1618 -> Chat: at least on a price chart basis
2014-09-04 16:18:32 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO also closed with a +8 reading today
2014-09-04 16:18:50 [Message] fib_1618 -> Chat: while the 10% Index has now snapped back to the 5% Index
2014-09-04 16:19:02 [Message] fib_1618 -> Chat: and this would suggest a near term technical bounce is indicated
2014-09-04 16:19:16 [Message] fib_1618 -> Chat: so a mix of what's to be expected on Friday...so far
2014-09-04 16:19:36 [Message] fib_1618 -> Chat: moving to the NYSE Composite breadth MCO
2014-09-04 16:19:46 [Message] fib_1618 -> Chat: and here we had a full zero line snapback today
2014-09-04 16:19:47 [Message] fib_1618 -> Chat: in fact
2014-09-04 16:20:20 [Message] fib_1618 -> Chat: we actually closed with a -3 reading on the ratio adjusted NYSE breadth MCO
2014-09-04 16:20:41 [Message] fib_1618 -> Chat: so a technical bounce off this zero line is to be expected as soon as Friday
2014-09-04 16:21:35 [Message] fib_1618 -> Chat: and with the 10% Component falling to the 5% component area
2014-09-04 16:21:56 [Message] fib_1618 -> Chat: this just adds a bit more odds of this bounce actually taking place
2014-09-04 16:22:01 [Message] fib_1618 -> Chat: and at the same time
2014-09-04 16:22:32 [Message] fib_1618 -> Chat: any additional downside follow through from here would tend to keep prices in check for a week...maybe 2
2014-09-04 16:22:55 [Message] fib_1618 -> Chat: with the NYSE composite data leading lower
2014-09-04 16:23:37 [Message] fib_1618 -> Chat: this also instructs us that traders believe that (maybe) the jobs number tomorrow will be heated enough to force interest rates higher from here
2014-09-04 16:24:18 [Message] fib_1618 -> Chat: so we'll see if they're right...or whether we'll see a surprise like we saw last month
2014-09-04 16:24:59 [Message] fib_1618 -> Chat: we also had an outside range day on Wednesday on the NASDAQ Composite
2014-09-04 16:25:10 [Message] fib_1618 -> Chat: and that led to a down close today...so that objective was fully met
2014-09-04 16:25:31 [Message] fib_1618 -> Chat: looking at the NASDAQ breadth MCO
2014-09-04 16:25:42 [Message] fib_1618 -> Chat: and we see that it also moved to a lower low today
2014-09-04 16:26:10 [Message] fib_1618 -> Chat: and is now near enough to the MCO zero line (+4) where we could see a technical bounce as soon as Friday
2014-09-04 16:26:51 [Message] fib_1618 -> Chat: same component configuration here as well with the COMPQ
2014-09-04 16:27:26 [Message] fib_1618 -> Chat: so we'll see how this sorts our tomorrow
2014-09-04 16:27:48 [Message] fib_1618 -> Chat: lower closing price low in the NDX
2014-09-04 16:28:03 [Message] fib_1618 -> Chat: while we see that the NDX breadth MCO remains above its most recent lows
2014-09-04 16:28:11 [Message] fib_1618 -> Chat: and that would be daily divergence on the chart
2014-09-04 16:29:41 [Message] fib_1618 -> Chat: we'll see if this divergence between the NDX and its parents rights itself with the child or the parent by Monday
2014-09-04 16:29:56 [Message] fib_1618 -> Chat: the parent being the NASDAQ Composite
2014-09-04 16:30:30 [Message] fib_1618 -> Chat: outside range day on the SPX as well
2014-09-04 16:30:42 [Message] fib_1618 -> Chat: anyone read someone calling this a Key Reversal yet?
2014-09-04 16:30:55 [Message] fib_1618 -> Chat: let me check to see if it is...one moment
2014-09-04 16:31:29 [Message] fib_1618 -> Chat: above average volume - check
2014-09-04 16:31:37 [Message] fib_1618 -> Chat: life of contract high - check
2014-09-04 16:31:48 [Message] fib_1618 -> Chat: let me check open interest
2014-09-04 16:32:20 [Message] fib_1618 -> Chat: nope
2014-09-04 16:32:26 [Message] fib_1618 -> Chat: not a "key" reversal
2014-09-04 16:32:36 [Message] fib_1618 -> Chat: open interest continues to rise and not diverge
2014-09-04 16:33:02 [Message] fib_1618 -> Chat: but it could be enough of a reversal to keep prices consolidating for a week
2014-09-04 16:33:08 [Message] fib_1618 -> Chat: remember again from Tuesday's chat
2014-09-04 16:33:40 [Message] fib_1618 -> Chat: that the closing price on the price bar did NOT close above the previous day's highs
2014-09-04 16:33:56 [Message] fib_1618 -> Chat: and that suggested that we were likely to continue to consolidate through today
2014-09-04 16:34:04 [Message] fib_1618 -> Chat: again
2014-09-04 16:34:11 [Message] fib_1618 -> Chat: unless we have money leading higher
2014-09-04 16:34:28 [Message] fib_1618 -> Chat: prices are not likely to win any challenges that it might be up against
2014-09-04 16:35:04 [Message] fib_1618 -> Chat: the SPX breadth MCSUM did move up and through the +750 level today
2014-09-04 16:35:52 [Message] fib_1618 -> Chat: so any immediate follow through on that would present the expectation of seeing this MCSUM continue to rise to around the +1000 level
2014-09-04 16:36:21 [Message] fib_1618 -> Chat: moving to the OEX breadth MCO
2014-09-04 16:36:32 [Message] fib_1618 -> Chat: and here we see that also moved to lower lows today
2014-09-04 16:37:17 [Message] fib_1618 -> Chat: but the amplitude here remains somewhat reserved compared to the broader 500 stocks
2014-09-04 16:37:51 [Message] fib_1618 -> Chat: which then suggests that the "cream stocks" were not sold off enough to make much of a difference
2014-09-04 16:38:05 [Message] fib_1618 -> Chat: and when we look at the Dow breadth MCO
2014-09-04 16:38:32 [Message] fib_1618 -> Chat: this brings this idea home as the we see that it remains above its recent lows
2014-09-04 16:39:02 [Message] fib_1618 -> Chat: and of further interest
2014-09-04 16:39:43 [Message] fib_1618 -> Chat: when we take ruler to monitor on the Dow breadth MCSUM and draw a line connecting June/July highs
2014-09-04 16:40:18 [Message] fib_1618 -> Chat: we see that we have now perceptively broken above this same line of resistance
2014-09-04 16:40:31 [Message] fib_1618 -> Chat: so...the Dow can now move to new highs and stay there
2014-09-04 16:40:54 [Message] fib_1618 -> Chat: maybe the 3rd time attempt to do so will be the charm?
2014-09-04 16:40:57 [Message] fib_1618 -> Chat: we'll see
2014-09-04 16:41:21 [Message] fib_1618 -> Chat: moving to the MID breadth MCO
2014-09-04 16:41:30 [Message] fib_1618 -> Chat: and not surprisingly it also moved to lower lows today
2014-09-04 16:41:45 [Message] fib_1618 -> Chat: and finished the day with a +8 reading
2014-09-04 16:41:54 [Message] fib_1618 -> Chat: and as we saw with the NYSE CO data
2014-09-04 16:42:34 [Message] fib_1618 -> Chat: the MID breadth MCO components are also in a position where we're likely to see a technical bounce as soon as tomorrow
2014-09-04 16:42:52 [Message] fib_1618 -> Chat: and in a somewhat surprising discovery
2014-09-04 16:43:02 [Message] fib_1618 -> Chat: the SML breadth MCO did NOT move to lower lows today
2014-09-04 16:43:22 [Message] fib_1618 -> Chat: and, in fact,  it continues stay above its zero line
2014-09-04 16:44:03 [Message] fib_1618 -> Chat: the price pattern itself of the SML remains very choppy here
2014-09-04 16:44:22 [Message] fib_1618 -> Chat: and making little in the way of follow through headway to the upside
2014-09-04 16:45:24 [Message] fib_1618 -> Chat: and finally the TM breadth MCO also shows a completed snapback to its zero line today
2014-09-04 16:45:51 [Message] fib_1618 -> Chat: with the components suggesting a technical bounce is likely to be seen in the next day or so
2014-09-04 16:46:03 [Message] fib_1618 -> Chat: so...
2014-09-04 16:46:10 [Message] fib_1618 -> Chat: after several small point changes on Tuesday
2014-09-04 16:46:27 [Message] fib_1618 -> Chat: the markets attempted to move in the direction of least resistance at first
2014-09-04 16:46:42 [Message] fib_1618 -> Chat: but couldn't find enough takers to keep prices buoyant
2014-09-04 16:46:56 [Message] fib_1618 -> Chat: and we've seen two consecutive days of volatile, choppy action as the small point compression points attempted to unwind
2014-09-04 16:47:14 [Message] fib_1618 -> Chat: with several of the MCO's now back to their zero lines
2014-09-04 16:47:26 [Message] fib_1618 -> Chat: one side can now take control of the action over the next 2 trading days
2014-09-04 16:48:10 [Message] fib_1618 -> Chat: so let's take a look at the sector McClellan's to see if there are any clues there on what that direction might be
2014-09-04 16:48:34 [Message] fib_1618 -> Chat: the XLY breadth MCO was actually UP today
2014-09-04 16:48:54 [Message] fib_1618 -> Chat: while taking out the highs seen on Tuesday
2014-09-04 16:49:20 [Message] fib_1618 -> Chat: we also see that we didn't have an outside range day on the price chart
2014-09-04 16:50:23 [Message] fib_1618 -> Chat: so it would appear that this sector is seeing money moving in on "maybe" the idea that the people are making more money and this would maybe buy some big ticket products that would have a longer term shelf life
2014-09-04 16:50:52 [Message] fib_1618 -> Chat: moving to the XLP breadth MCO
2014-09-04 16:51:01 [Message] fib_1618 -> Chat: and here we finally saw a break of pattern support today
2014-09-04 16:51:32 [Message] fib_1618 -> Chat: though on a positive note
2014-09-04 16:51:58 [Message] fib_1618 -> Chat: we see that the XLP breadth MCSUM did break above its accelerated declining tops line on Tuesday
2014-09-04 16:52:46 [Message] fib_1618 -> Chat: so this might be nothing more than a small rest before seeing a more concentrated upside effort in prices overall
2014-09-04 16:54:12 [Message] fib_1618 -> Chat: moving to the XLE breadth MCO
2014-09-04 16:54:24 [Message] fib_1618 -> Chat: and here we see our first culprit who took it on the chin today
2014-09-04 16:54:36 [Message] fib_1618 -> Chat: as we settled back below the zero line
2014-09-04 16:54:46 [Message] fib_1618 -> Chat: with a -24 reading
2014-09-04 16:55:07 [Message] fib_1618 -> Chat: we also see that the 10% Trend also closed below its zero line
2014-09-04 16:55:19 [Message] fib_1618 -> Chat: while the 5% remains above this same line of neutrality
2014-09-04 16:55:22 [Message] fib_1618 -> Chat: taken together
2014-09-04 16:55:51 [Message] fib_1618 -> Chat: we should see a near term bounce to snapback to or toward the same MCO zero line
2014-09-04 16:56:00 [Message] fib_1618 -> Chat: but more importantly
2014-09-04 16:56:25 [Message] fib_1618 -> Chat: we now have the potential of a Summation Failure going for us
2014-09-04 16:56:58 [Message] fib_1618 -> Chat: as the XLE breadth MCSUM was not able to move much above the +250 level after finding near zero line support
2014-09-04 16:57:05 [Message] fib_1618 -> Chat: looking at the price pattern
2014-09-04 16:57:14 [Message] fib_1618 -> Chat: as its structure is that of a declining trend
2014-09-04 16:57:54 [Message] fib_1618 -> Chat: having performing its technical obligation of closing its downside pattern gap seen in late July
2014-09-04 16:58:09 [Message] fib_1618 -> Chat: and for good measure
2014-09-04 16:58:28 [Message] fib_1618 -> Chat: today's lower MCO also broke below the rising bottoms line on the XLE breadth MCO
2014-09-04 16:58:35 [Message] fib_1618 -> Chat: so...at the very least
2014-09-04 16:58:48 [Message] fib_1618 -> Chat: any long positions not already stopped out should now be closed on the XLE
2014-09-04 16:59:11 [Message] fib_1618 -> Chat: and at this point
2014-09-04 16:59:30 [Message] fib_1618 -> Chat: a move to the $93 level would be a reasonable expectation
2014-09-04 16:59:34 [Message] fib_1618 -> Chat: and for the buyers
2014-09-04 16:59:52 [Message] fib_1618 -> Chat: the hope of bull divergence with this same anticipated decline
2014-09-04 17:00:06 [Message] fib_1618 -> Chat: Elliott wise
2014-09-04 17:00:16 [Message] fib_1618 -> Chat: looks like a simple zig zag correction
2014-09-04 17:00:24 [Message] fib_1618 -> Chat: now in wave C to the downside
2014-09-04 17:00:58 [Message] fib_1618 -> Chat: though the idea of a Summation Failure could turn this correction into something move damaging
2014-09-04 17:01:08 [Message] fib_1618 -> Chat: we'll see how this looks next week
2014-09-04 17:01:18 [Message] fib_1618 -> Chat: and...as an outside gift
2014-09-04 17:01:34 [Message] fib_1618 -> Chat: one would think that cheaper fuel would be an economic benefit
2014-09-04 17:01:37 [Message] fib_1618 -> Chat: and...
2014-09-04 17:02:05 [Message] fib_1618 -> Chat: any worries about the transportation of oil from either Russia or the Middle East has maybe been crushed for now
2014-09-04 17:02:26 [Message] fib_1618 -> Chat: maybe this is too simplistic these days of global trading
2014-09-04 17:02:37 [Message] fib_1618 -> Chat: but we did have a lot of worries of war over the summer
2014-09-04 17:02:49 [Message] fib_1618 -> Chat: which developed massive "backwardation" in the futures
2014-09-04 17:03:27 [Message] fib_1618 -> Chat: so this might be just a correction to get the futures more in line
2014-09-04 17:03:49 [Message] fib_1618 -> Chat: the XLF continues to hold its buoyancy
2014-09-04 17:04:03 [Message] fib_1618 -> Chat: so this sector is keeping prices from declining
2014-09-04 17:04:30 [Message] fib_1618 -> Chat: with XLF breadth MCSUM pattern resistance now taken out
2014-09-04 17:05:31 [Message] fib_1618 -> Chat: looks like a sympathetic reversal today in the XLV
2014-09-04 17:05:41 [Message] fib_1618 -> Chat: with the XLV breadth MCO seeing lower lows
2014-09-04 17:06:13 [Message] fib_1618 -> Chat: and the XLV breadth MCSUM finding some near term natural resistance in and around the +750 level
2014-09-04 17:06:44 [Message] fib_1618 -> Chat: the battle for direction continues with the XLI breadth MCO
2014-09-04 17:06:56 [Message] fib_1618 -> Chat: as it plays daily tag with its zero line
2014-09-04 17:07:24 [Message] fib_1618 -> Chat: and you can see how this interpretive struggle between the two sides when we look at the XLI breadth MCSUM
2014-09-04 17:07:47 [Message] fib_1618 -> Chat: as it continues to move sideways...with a slight advantage to the sellers
2014-09-04 17:08:19 [Message] fib_1618 -> Chat: small point change as well today on the XLI breadth MCO as we wait for the jobs number in the morning
2014-09-04 17:08:59 [Message] fib_1618 -> Chat: we also have a zero line snapback today in the XLB breadth MCO
2014-09-04 17:09:29 [Message] fib_1618 -> Chat: with a slightly tired looking price pattern sequence seen on the 21 day close up chart
2014-09-04 17:09:52 [Message] fib_1618 -> Chat: today's sell off in the precious metals stocks is not a good omen for this sector
2014-09-04 17:10:22 [Message] fib_1618 -> Chat: but technically, right now, we could see a technical bounce higher as soon as Friday
2014-09-04 17:11:14 [Message] fib_1618 -> Chat: although the XLK breadth MCO moved lower today
2014-09-04 17:11:21 [Message] fib_1618 -> Chat: it remains above its recent lows
2014-09-04 17:11:25 [Message] fib_1618 -> Chat: while at the same time
2014-09-04 17:11:46 [Message] fib_1618 -> Chat: the XLK breadth MCSUM is challenging its yearly highs from the July period
2014-09-04 17:11:53 [Message] fib_1618 -> Chat: looking at the price pattern
2014-09-04 17:12:08 [Message] fib_1618 -> Chat: and it sure does look like a completed Elliott "irregular flat" pattern
2014-09-04 17:12:39 [Message] fib_1618 -> Chat: so this sector seems to be the one to watch for leadership near term
2014-09-04 17:13:02 [Message] fib_1618 -> Chat: with any further weakness confirming the idea of a week or two choppy period
2014-09-04 17:13:47 [Message] fib_1618 -> Chat: while with any near term strength indicating that our anticipated chop into today is now behind us and higher stock prices are likely going into next week
2014-09-04 17:14:07 [Message] unc1998 -> Chat: got stopped out of my position today
2014-09-04 17:14:19 [Message] unc1998 -> Chat: broke the parabolic sar
2014-09-04 17:14:23 [Message] fib_1618 -> Chat: with a profit?
2014-09-04 17:14:30 [Message] unc1998 -> Chat: overall yes
2014-09-04 17:14:33 [Message] fib_1618 -> Chat: good!
2014-09-04 17:14:44 [Message] fib_1618 -> Chat: and now you can reset
2014-09-04 17:14:54 [Message] fib_1618 -> Chat: let me see what the SAR buy point is
2014-09-04 17:15:18 [Message] fib_1618 -> Chat: $40.44
2014-09-04 17:15:21 [Message] fib_1618 -> Chat: so...
2014-09-04 17:15:24 [Message] fib_1618 -> Chat: easy peasy
2014-09-04 17:15:31 [Message] rite01 -> Chat: Congrats   Unc1998
2014-09-04 17:15:32 [Message] unc1998 -> Chat: will be watching [smile]
2014-09-04 17:15:32 [Message] fib_1618 -> Chat: set a buy stop at $40.50
2014-09-04 17:15:42 [Message] unc1998 -> Chat: thanks Rite!
2014-09-04 17:16:05 [Message] fib_1618 -> Chat: the pattern remains in a bullish configuration
2014-09-04 17:16:14 [Message] fib_1618 -> Chat: so if it continues to prove itself...
2014-09-04 17:16:36 [Message] fib_1618 -> Chat: yes, nice trade
2014-09-04 17:16:41 [Message] fib_1618 -> Chat: moving to the XLU
2014-09-04 17:17:15 [Message] fib_1618 -> Chat: the price pattern continues to show some pattern resistance at the $43 level
2014-09-04 17:17:23 [Message] fib_1618 -> Chat: but with the XLU breadth MCO moving to higher highs
2014-09-04 17:17:34 [Message] fib_1618 -> Chat: a challenge of the all time price highs is still expected
2014-09-04 17:17:51 [Message] fib_1618 -> Chat: in what looks like a simple bull flag formation
2014-09-04 17:17:56 [Message] fib_1618 -> Chat: so...
2014-09-04 17:18:00 [Message] fib_1618 -> Chat: the sectors are mixed
2014-09-04 17:18:08 [Message] fib_1618 -> Chat: which is a positive for the larger trend
2014-09-04 17:18:21 [Message] fib_1618 -> Chat: as money continues to rotate from one area to another
2014-09-04 17:18:32 [Message] fib_1618 -> Chat: weakest sector right now is the XLE
2014-09-04 17:18:42 [Message] fib_1618 -> Chat: strongest goes with the XLY and the XLU
2014-09-04 17:19:06 [Message] fib_1618 -> Chat: so we'll watch these over our collective shoulders on Friday
2014-09-04 17:19:43 [Message] fib_1618 -> Chat: CVI's are neutral overall
2014-09-04 17:19:47 [Message] fib_1618 -> Chat: so one side is about to take control
2014-09-04 17:20:14 [Message] fib_1618 -> Chat: we'll call the STVO's on the bullish side of neutral
2014-09-04 17:20:35 [Message] fib_1618 -> Chat: while the VTO's remain frothy...but have backed off a bit over the last couple of days
2014-09-04 17:20:43 [Message] fib_1618 -> Chat: and hopefully that is a good sign for the TRIN's
2014-09-04 17:21:00 [Message] fib_1618 -> Chat: NYSE TRIN at .80
2014-09-04 17:21:27 [Message] fib_1618 -> Chat: Open 10 backing off to a .97 reading from a .90 neutral reading on Tuesday
2014-09-04 17:21:42 [Message] fib_1618 -> Chat: NASDAQ TRIN at .87
2014-09-04 17:22:07 [Message] fib_1618 -> Chat: Open 10 now back below "overbought" with a .81 reading
2014-09-04 17:22:23 [Message] fib_1618 -> Chat: that's a lot of air that was let out of the "overbought" balloon
2014-09-04 17:22:36 [Message] fib_1618 -> Chat: TM TRIN at .79
2014-09-04 17:22:52 [Message] fib_1618 -> Chat: Open 10 at .85
2014-09-04 17:22:56 [Message] fib_1618 -> Chat: very good
2014-09-04 17:22:58 [Message] fib_1618 -> Chat: so...
2014-09-04 17:23:10 [Message] fib_1618 -> Chat: in the last two days the market has attempted to move to higher highs
2014-09-04 17:23:23 [Message] fib_1618 -> Chat: and it has met quite a bit of resistance in doing so
2014-09-04 17:23:44 [Message] fib_1618 -> Chat: as we were already "overbought" with the NASDAQ and TM markets as of Tuesday
2014-09-04 17:23:50 [Message] fib_1618 -> Chat: since that time
2014-09-04 17:24:00 [Message] fib_1618 -> Chat: we seem to have had some nice profit taking come in
2014-09-04 17:24:03 [Message] fib_1618 -> Chat: and as a result
2014-09-04 17:24:27 [Message] fib_1618 -> Chat: we have relieved some of this same frothy behavior
2014-09-04 17:24:32 [Message] fib_1618 -> Chat: sentiment wise
2014-09-04 17:25:09 [Message] fib_1618 -> Chat: after coming in with an 88 reading on Wednesday
2014-09-04 17:25:17 [Message] fib_1618 -> Chat: the ISEE number came in today with a 84
2014-09-04 17:26:08 [Message] fib_1618 -> Chat: so it would seem that the option speculators have a itchy trigger finger as it applies to moving into put options on ANY lack of upside follow through to the morning's positive openings
2014-09-04 17:26:24 [Message] fib_1618 -> Chat: thinking back to last month
2014-09-04 17:26:51 [Message] fib_1618 -> Chat: and we pretty much had the same kind of rhythm the day before July's job numbers as well
2014-09-04 17:27:09 [Message] fib_1618 -> Chat: so...let's again give the nod to the buyers near term
2014-09-04 17:27:24 [Message] fib_1618 -> Chat: at least on a technical basis we should see a reflex bounce as soon as Friday
2014-09-04 17:28:00 [Message] fib_1618 -> Chat: and then we'll have to see if this time the buyers can hold these gains and push the short sellers to cover their positions before moving into the weekend
2014-09-04 17:28:05 [Message] fib_1618 -> Chat: let me check the BETS
2014-09-04 17:29:24 [Message] fib_1618 -> Chat: NAAD is now back in a Bullish Configuration
2014-09-04 17:30:20 [Message] fib_1618 -> Chat: +70
2014-09-04 17:30:48 [Message] fib_1618 -> Chat: but we also have 3 charts that are close enough to move back to bullish configs on any kind of firm day on Friday
2014-09-04 17:30:53 [Message] fib_1618 -> Chat: if we get those
2014-09-04 17:31:01 [Message] fib_1618 -> Chat: then it would be a +85 this weekend
2014-09-04 17:31:08 [Message] fib_1618 -> Chat: and a strong buy
2014-09-04 17:31:25 [Message] fib_1618 -> Chat: so...it looks like the numbers tomorrow are going to be important
2014-09-04 17:31:40 [Message] fib_1618 -> Chat: not too hot...and not too cold...would be just right
2014-09-04 17:31:58 [Message] fib_1618 -> Chat: oh...the TSX Ventures group
2014-09-04 17:32:19 [Message] fib_1618 -> Chat: which is the small and micro cap precious metals and earth stocks in Canada
2014-09-04 17:32:24 [Message] fib_1618 -> Chat: took it on the chin today
2014-09-04 17:32:34 [Message] fib_1618 -> Chat: it was a poor day for the PM stocks...
2014-09-04 17:32:53 [Message] fib_1618 -> Chat: we'll see how poor when we see the A/D lines this weekend
2014-09-04 17:34:06 [Message] fib_1618 -> Chat: anything else?
2014-09-04 17:34:57 [Message] fib_1618 -> Chat: just scanned the volume McClellan's
2014-09-04 17:35:04 [Message] fib_1618 -> Chat: and all are above their zero lines right now
2014-09-04 17:35:13 [Message] fib_1618 -> Chat: so no panicking there
2014-09-04 17:35:15 [Message] fib_1618 -> Chat: [smile]
2014-09-04 17:35:47 [Message] fib_1618 -> Chat: just keep an eye on the DAX...it hasn't failed us as yet
2014-09-04 17:37:05 [Message] fib_1618 -> Chat: nada?
2014-09-04 17:37:16 [Message] rite01 -> Chat: Nothing here
2014-09-04 17:37:47 [Message] Dand64 -> Chat: Who's winning the nfl opener?
2014-09-04 17:37:55 [Message] fib_1618 -> Chat: lol
2014-09-04 17:38:02 [Message] fib_1618 -> Chat: which game?
2014-09-04 17:38:25 [Message] Dand64 -> Chat: Seahawks vs Packers in Seattle
2014-09-04 17:38:58 [Message] fib_1618 -> Chat: Seahawks can fly in and pick the Packers
2014-09-04 17:39:11 [Message] fib_1618 -> Chat: that wasn't a good answer, huh?
2014-09-04 17:39:16 [Message] fib_1618 -> Chat: [smile]
2014-09-04 17:39:25 [Message] fib_1618 -> Chat: what's the spread?
2014-09-04 17:39:45 [Message] Dand64 -> Chat: Seattle by 6.5 last I saw
2014-09-04 17:39:58 [Message] fib_1618 -> Chat: great
2014-09-04 17:40:00 [Message] fib_1618 -> Chat: [smile]
2014-09-04 17:40:10 [Message] fib_1618 -> Chat: this early in the year
2014-09-04 17:40:14 [Message] fib_1618 -> Chat: I would go with the champs and their defense
2014-09-04 17:40:24 [Message] fib_1618 -> Chat: any score?
2014-09-04 17:40:44 [Message] fib_1618 -> Chat: did it start?
2014-09-04 17:40:47 [Message] Dand64 -> Chat: I'm a north westerner but would go with this edition if I wasn't
2014-09-04 17:40:56 [Message] Dand64 -> Chat: Just ready to kick off
2014-09-04 17:41:20 [Message] fib_1618 -> Chat: 12th man baby...those fans are ravenous
2014-09-04 17:41:29 [Message] Dand64 -> Chat: Amen.
2014-09-04 17:41:35 [Message] fib_1618 -> Chat: OK...and with that
2014-09-04 17:41:38 [Message] fib_1618 -> Chat: I'm going to take off
2014-09-04 17:41:45 [Message] fib_1618 -> Chat: everyone have a super weekend
2014-09-04 17:41:56 [Message] fib_1618 -> Chat: and we'll see how this all sorted out on Tuesday
2014-09-04 17:41:58 [Message] fib_1618 -> Chat: good night
2014-09-04 17:41:59 [Message] Dand64 -> Chat: Thank you.  You too.

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

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