Posts by Rod David
Livestox Recording Sep 24, 2015
Thursday’s Livestox recording is below, and the stocks we addressed in order follow that (top to bottom). Please don’t hesitate posting follow-up questions to this blog post’s thread.
Livestox recording (MP4) || ilinc version
| SPX | PNPL | |
| GPRO | CARA | TAUG |
| SCTY | FOLD | MDBX |
| INSY | ISIS | SRNA |
| FEYE | SUNE | TRTC |
| AMZN | LOOK | GWPH |
| GOOGL | SRPT | CBIS |
| FB | KITE | MSRT |
| TSLZ | BTX | |
| AAPL | ZYNE | |
| IMGN | NMUS | |
| S | FITX |
Mid-day Update… The first rule of holes.
Target met and held at the low. So far.
This morning’s test of 1989.00 was exceeded only by 3 ticks. Just attacking it to within 3 ticks would have sufficed. Its reaction up through the noon hour reached 1914.00. Such strong hands must be secure in their bullishness.
Or, was that just a knee-jerk reaction to fulfilling so much selling pressure so quickly? The probe above this afternoon’s 1910.75 bias-up signal avoided triggering. And its reaction down has tested 1902.00.
So long as the next lower objective is contained within the first available timing window, new sponsorship is difficult to attract. That increases the potential for a bottom to form. So, breaking under 1918.00 through a relevant timing window put into play 1898.00, and both conditions were triggered and met this morning.
None of which says the drop has bottomed or that the trend has reversed up. But the first rule of getting out of a hole is to stop digging. So, there’s that.
Look ahead: Economic Calendar – for Fri Sep 25, 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights: Friday’s GDP has a reliable track record for influencing price action. Any obvious reaction to it should be duplicated by subsequent report. And there are two more coming post-open. The afternoon Fed speaker is a reliable hawk, so if her remarks trigger a negative reaction it is likely anticipated by stronger hands and recoverable.
*Janet Yellen Speaks
Thu 5:00 PM ET
GDP
8:30 AM ET
Corporate Profits
8:30 AM ET
*James Bullard Speaks
9:15 AM ET
*PMI Services Flash
9:45 AM ET
*Consumer Sentiment
10:00 AM ET
Baker-Hughes Rig Count
1:00 PM ET
*Esther George Speaks – hawk
1:25 PM ET
Afternoon Bias
| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1922.00 | 1910.75 |
| …would target | 1928.50 | 1917.25 |
| Bias-down: under | 1912.25 | 1901.00 |
| …would target | 1907.00 | 1895.75 |
| Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 1:20, 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 1:20 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 1:20 would invoke a grace period through 1:30 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 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
Today’s Livestox
Click here to enter the 12:15 ET Livestox session. Post any stock requests to the blog’s comments section (in this or the prior post), or attend the live session to ask there. See you soon!