Posts by Rod David
Saturday Review Link
Be sure to join us at either link below by 9:30am ET for this weekend’s Saturday Review.
We’ll discuss the bigger picture, from this past week’s corrective bounce, Friday’s “session-long” setup, and possible Sunday night and Monday morning price action. And then we’ll review any stock charts that you request.
Morning Bias
| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1952.75 | 1942.75 |
| …would target | 1958.00 | 1948.00 |
| Bias-down: under | 1943.75 | 1933.75 |
| …would target | 1936.75 | 1926.75 |
| Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be “no-bias,” and the bias signals should define the bias environment’s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
— “Late” signals don’t require testing the opposite bias signal, but it’s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
Post-market Wrap (recording & summary)
Setups reflect sponsorship taking control. If they’ve done everything necessary, and still don’t succeed, that’s not a failure — it’s the opposing sponsorship taking control instead.
Exiting Friday morning’s bias environment 20 points off its 1883.00 low wasn’t itself the reason for the “session-long decline” failing. And it was no reason why its inversion couldn’t still be productive. The inverted setup could have only ranged flat-to-higher, but it doubled the initial 20-point recovery, and then added another 20 points on top.
And there’s room for yet another 20 points, but no requirement, since the next higher corrective bounce potential was met and held at 1942.00. Not already retesting Tuesday’s low has affected the corrective bounce’s consequences. Some details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/wzjvrwf
Join us in the Saturday Review for more discussion of the corrective bounce, the “session-long” setup, and possible Sunday night and Monday morning price action. It begins at 9:30am ET, and I’ll send access instructions before then.
Livestox Recording Oct 2, 2015
Thursday’s Livestox recording is below, and the stocks we addressed in order follow that. Please don’t hesitate posting follow-up questions to this blog post’s thread.
SPX
GLD — close above 110.50 would target 117
USO — “complex descending triangle”, holding under 15.25-15.55 would target 11.75
TWTR — holding above 24 would has potential up to 34.50
AMZN — above 541 would target 570
GOOGL — less bullish, above 670 would target 711
TSLA — close above 271 would target above 300
NLNK — the trend has reversed down, holding 40/44 resistance would target 26
FEYE — Would consider becoming bullish above 38.50, but otherwise under 34 would target 25
GILD — under 95.50 would target 75
KITE — above 69.75 would start to signal new rally leg
Cannabis sector updates:
TAUG, VAPE, TRTC, THCZ, CANN, INSY, GWPH
Pre-close View… The rest is on the house.
Minimum objective is fulfilled.
The inverted session-long decline’s requirements are similar to the session-long rally: Each timing window probing its prior timing window’s high, with one exception.
Today’s exception was the afternoon’s bias environment. The final hour just probed above its high. It’s probing fresh highs, too.
Higher highs aren’t required. They’re likely, but likelier on any day other than Fridays because of the oddities of Friday afternoons. Risk of reversing down can’t be dismissed, not as much buying pressure that was expended already, with no requirement above and weekend illiquidity ahead.
Meanwhile, the 3:10-3:20 timing window just trended up above prior highs, after the bias environment was exited above the noon hour’s high. Buyers gained traction for their efforts. That’s less reliable on a Friday, but it does warn to be cautious if selling.