Posts by Rod David
Well, it’s hit the fan,
Well, it’s hit the fan, hasn’t it. The topping pattern is breaking lower, and the only question seems to be, “how much lower?” That’s easy. Buckle up, and join us for Livestox this afternoon at 1:30 ET.. We’ll also follow-up on my recent mentions in the Activity Feed and the Universe.
Login here by1:30pm ET
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Here are recent posts if you haven’t checked in awhile, and for the Marketfy search engine to index.
casjf — SUNE – support & resistance Posted 1 week ago
casjf — TSL – Support & resistance Posted 1 week ago
Rod-David — SUNE — I’m not expecting this area to be the bottom, But there is significant resistance at 16.45 that should be tested regardless off the resolution. Posted 6 days ago
Rod-David — TSL — Room up to 10.65-11.25 before suggesting more than a corrective bounce underway. Meanwhile, any lower low under 8.75 would likely extend to new lows near 6 Posted 6 days ago
Jo B — Rod Surna is still in that uptrending channel. Is ur resistance still around .23? Thanks Posted 6 days ago
Rod-David — SRNA — Get through .185-.190 and then .23-.24 would be in-pllay Posted 6 days ago
Josey — Hi Rod , NUGT is back to 3.80, good time to go long and if so how close of a stop Posted 6 days ago
guanito — VPOR pop. Posted 6 days ago
Josey — / Look’s like we are @ the line in the sand now on gold. Posted 6 days ago
Rod-David — NUGT — Gold’s pullback yesterday and today must resolve up without delay by noon Monday to confirm it was not on its way down another $15. Gold will probably be down that extra $15 by noon Monday if this pullback isn’t already resolving up by then. Similarly, 3.75 should define NUGT’s pullback low Posted 6 days ago
guanito — high noon Posted 6 days ago
Rod-David — VPOR — I love the liquidity, but the price action isn’t really a pattern, so today’s surge isn’t necessarily a breakout with any predictive value. Posted 6 days ago
guanito — Tku – good weekend all Posted 6 days ago
Jo B — thanks Rod. have a great weekend everyone Posted 6 days ago
Jo B — Rod if i remember correctly u also run a currency blog? Can i ask ur opinion on the dinar and dong please? Posted 5 days ago — “Edited”
Rod David — Currently, I cover currencies as part of the market timing blog. I’ve never looked at any country’s dinar, and I assume you mean the Vietnamese dong. Posted 4 days ago
Jo B — yes the Vietnamese dong and the Iraqi dinar. rumor has it that Trump bought a boat load of the latter so I’m wondering what all the fuss is about. Posted 4 days ago
Jo B — Thank u for the current Universe too Posted 4 days ago
Rod-David — That’;s an awesome thesis ;) Posted 4 days ago
Rod-David — TRTC — Patience is a virtue… The objective to test the range’/s lower-end at .10 is now being fulfilled. Now I’m monitoring for a long-entry. Buying this dip is difficult with volume being so strong. Closing back above.13 is otherwise the only current parameter. Posted 4 days ago
Rod-David — SRNA — Still surging. But now pullbacks must hold .185 as support to maintain the potential up to .24 Posted 4 days ago — “Edited”
Rod-David — TRTC — Has formed a Descending Triangle, so another test of the .09 range seems likely. Reacting up aggressively back above .113 at that point would be bullish. Posted 4 days ago
Josey — Hi Rod, USO off a fresh low and recovering 14.25 or above a buy signal (Today) or would it need to close over 15.00? TY Posted 4 days ago — “Edited”
Jo B — SRNA looking pretty strong Posted 4 days ago
guanito — Its high noon. Do you know where your metals are? :) Posted 4 days ago — “Edited”
Josey — guanito – I’m selling now. Posted 4 days ago
Rod-David — SRNA — Fulfilling its .24 objective. Closing back under .215 would signal a bigger corrective dip is underway Posted 4 days ago
Rod-David — USO — The ongoing series of lower lows and lower highs is persisting even today. The same day that contains a new trend low cannot also reverse momentum up. After today, assuming today’s close isn’t under all prior lows, too, a buy signal would be able to trigger. Posted 3 days ago
Josey — Rod, is RAD required to retest the high? Looks like its @ the line in the sand here and volume is dropping off. Posted 3 days ago
Rod-David — RAD — Closing above 9.15 would target new highs at 9.65 and 9.95 Posted 3 days ago
guanito — Me too Josey. Sld SIL for 25 ticks. Got paid @ .22 SRNA. Posted 3 days ago
guanito — should have said – “do you know where your bullion is?” Posted 3 days ago
casjf — NLNK – is this a descending triangle breaking falsely higher before descending lower? Posted 3 days ago
fennecby — hey Rod.
How’s TISA looking to you now? Posted 3 days ago
KiteGradient — Great info on SRNA over the past couple weeks Rod Posted 3 days ago
Rod-David — NLNK – I see it less as a descending triangle, and more as a falling wedge. The break higher seems valid, just needing confirmation from a second consecutive higher close. Posted 3 days ago
Rod-David — TISA — June’s high was a second consecutive higher high, and last week’s low was a second consecutive higher low, which define an uptrend. Surging over the past several sessions is credible for reversing up, and likely to be recovered in case of a reaction down. Posted 3 days ago
Rod-David — KiteGradient, SRNA — ;) Posted 3 days ago
fennecby — thanks Rod. Posted 3 days ago
Jo B — Rod SRNA did close under .215 yet continues to look ok today. U still think a dip down is where its heading? Posted 3 days ago
Jo B — actually I’m wrong, SRNA closed at .225 yesterday. Posted 3 days ago
Rod-David — SRNA – Overlapping its pullback limit at yesterday’s close wasn’t terribly reassuring. Closing above .24 is very much needed to prove the rally’s momentum remains intact. Posted 3 days ago
Josey — Hi Rod, Do you think CDE is worth a long nibble @ 3.25 – 3.50 + or – Posted 2 days ago — “Edited”
Rod-David — CBDS — I’ve been tracking this as it slid into potential support at 1.15. Volume remained heavy while the last downleg was consolidated at its lows. And now it’s up sharply today. I’m still monitoring, and might provide a long-entry soon. Posted 2 days ago
Rod-David — CDE — I still like it, but would prefer this pullback test 3.15-3.25 Posted 2 days ago
fennecby — SRPT looking over extended to you, or still liable to run? Posted 2 days ago
Rod-David — SRPT — I certainly wouldn’t short an uptrend. But the restrained optimism of “sawing” through prior resistance around 36 does suggest that a more explosive upleg targeting the 45 area is possible Posted 2 days ago
fennecby — got it, thanks. Posted 2 days ago
Jo B — tu sir Posted 2 days ago
Scotty B — CDE: Would closing above $4 on good volume would indicate recovery in tact? Posted Yesterday
Rod-David — CDE — 33.92 would suffice as the last corrective bounce resistance, and above it must be a new rally leg. But keep in mind this leg is already getting extended, I first mentioned it here at around 3.11. So. probing 3.92 and closing above 3.92 might need to take advantage of having reversed the trend to allow a corrective dip Posted Yesterday
Josey — To soon to nibble FEYE sub 42? Posted Yesterday
Josey — lot’s of bargains across the board out there today, hard not to start buying or nibbling :) Posted Yesterday
Josey — Could gold be a 3 day surge candidate? Posted Yesterday
Rod-David — FEYE — While this area had been an attractive pullback objective, it’s taking much too long to absorb it and resolve up. I would want to look at it again Monday following expiiration. Posted Yesterday
Rod-David — Gold — Yes, this could very well become a 3-day surge. There’s reason to consider today’s high as having fulfilled near-term buying pressure, but probing above it aggressively tomorrow morning would be vulnerable to a near-term peak Posted Yesterday
Scotty B — CDE: Thanks, took profit. COP: is bouncing off 52 week low, went long this morning. Do you see this rally continuing? Or this more of a dead cat bounce? Posted Yesterday — “Edited”
fennecby — Does ELTK look like it’s bottomed and ready to surge? Posted Yesterday
Josey — Sorry, one more on my bargain hunting adventure :) Looking long LOCK. TY Posted Yesterday
casjf — LiveStox today or tomorrow? Posted Yesterday
Rod-David — Livestox tomorrow Posted Yesterday
Rod-David — ELTK– I like the Cup & Handle bottom. Get out above 1.25 resistance and an eventual test of 2.25 could lie ahead. Posted 23 hours ago
Rod-David — LOCK — This pattern doesn’t tend to appear where there isn’t some substantial issue still playing out. That said, a corrective bounce would be likely to peak around either 10.50 or 12.50. No bounce is required, that’s just where I would consider shorting Posted 23 hours ago
casjf — KITE – support? Posted 23 hours ago
fennecby — thanks. Posted 23 hours ago
Rod-David — KITE — broke out from a falling wedge in May, and went on to probe above the wedge. Now the 52.85 breakout point is being retested. So, the wedge’s ~45 low should be probed Posted 21 hours ago
Brett-ster — Rod, DIS looking ugly. Can you tell me where support is? Thx Posted 3 hours ago
casjf — AAPL – today’s support? Posted 3 hours ago
Rod-David — DIS — 94.45-95.20 is “lower prior highs” where there is potential for an obligatory bounce, perhaps to fill the gap back up to ~122. Not much support below that. Posted 2 hours ago
Rod-David — AAPL – “Today’s support” as in a target below? Posted 2 hours ago
casjf — AAPL- sorry, bad joke, as in support gets lower every day. But yes, target below is a better description. Thanks! Posted 2 hours ago
casjf — And last one for now, SCTY – could the target below be as low as $39? Posted 2 hours ago
Rod-David — SCTY — The target could be 37.75 or 29.70 Posted an hour ago
fennecby — CARA rolling over? Posted an hour ago
Rod-David — for awhile mow Posted 58 minutes ago
fennecby — yeah, but today looks like it’s considering jumping off a cliff, INSY-style. Posted 54 minutes ago
Brett-ster — Looks like everything is jumping off a cliff. Mindless panic? I’m moving to the sidelines. Posted 49 minutes ago
Afternoon bias
| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 2013.75 | 2010.00 |
| …would target | 2020.25 | 2016.75 |
| Bias-down: under | 2001.25 | 1997.75 |
| …would target | 1995.50 | 1991.75 |
| Signal status: waiting for trigger | 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.
Stock market
A stock market or equity market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares); these may include securities listed on a stock exchange as well as those only traded privately..
Stocks can be categorized in various ways. One common way is, by the country where the company is domiciled. For example, Nestlé and Novartis are domiciled in Switzerland, so they may be considered as part of the Swiss stock market, although their stock may also be traded at exchanges in other countries.
At the close of 2012, the size of the world stock market (total market capitalisation) was about US$55 trillion.[1] By country, the largest market was the United States (about 34%), followed by Japan (about 6%) and the United Kingdom (about 6%).[2] This went up more in 2013.[3]
A stock exchange is a place or organization by which stock traders (people and companies) can trade stocks. Companies may want to get their stock listed on a stock exchange. Other stocks may be traded “over the counter”, that is, through a dealer. A large company will usually have its stock listed on many exchanges across the world.[4]
Exchanges may also cover other types of security such as fixed interest securities or interest derivatives.
Post-open review… Nice try.
Pre-open clears away more of the path down.
After the overnight drop to 2008.75 had been recovered — at least probing above yesterday”s futures close to attack 2029.00 — I noted in the First Trade blog post the risk of fresh lows, despite that seeming counter-intuitive. While anything can happen during expiration, it already had. The overnight drop had started clearing a path down.
A last-minute plunge before the open did probe a fresh low down to 2007.50. That reacted up 10 points to test 2017.00 before 9:45. That was retraced back down to 2009.00 in time to prevent the opening 15 minutes of volatility from trending — just as we discussed during the pre-market Tour, since that would have conflicted with the bearish WedEX.
Those swings formed a Symmetrical Triangle that launched a bigger upleg to its 2022.00 target. Symmetrical Triangles tend initially to break falsely in one direction and then to reverse more substantially in the opposite direction. So, having fulfilled buying pressure, the decline was free to resume.
Which it did by tumbling to new lows at 2003.00. As pointed out during yesterday”s post-market Tour and this morning”s pre-market Wrap, that represents “lower prior highs,” and the last opportunity for a bounce before basically falling off the cliff.
So far, that bounce is testing 2008.00. It hasn”t even touched the overnight low, and it has barely touched the post-open low. That”s not much of a bounce. The decline is free to resume,.. and look out below if it does.
The overnight drop had recovered
The overnight drop had recovered back to its 2029 high before reacting down, now testing and retesting 2016. The opening 15 minutes of volatility can be predictive on expirations, but it need not trigger a signal. We still have a bearish WedEX signal waiting in the wings to influence this afternoon”s price action, assuming that it isn”t inverted, first. And we have a “new Globex trend extreme” that will require being retested at some point intraday. Details and other markets coverage are in the pre-market Tour, recorded here:
https://roddavid10.mitel-nhwc.com/join/shwyrwb
(Note: A technical issue during the recording might have truncated it.)