Posts by Rod David
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here”s the post market wrap until I”m able to compose the post market notes
Pre-close view… Short and shallow.
Another bounce plunges from its minimum objective.
This afternoon”s 2095.50 bias-down signal was touched during the noon hour. Holding it through 1:20 signaled no-bias, making it likely to serve as the bias environment”s lower-end.
That was part of a narrow 3-point 2095.25-2098.25 range overlapping the noon hour, which was not considered bullish. At least, not accumulative, so any bounce from it could only temporarily delay probing fresh lows down to 2093.25.
The potential for a false break higher was 2101.00, which a break higher pierced by 2 ticks. Then — repeating the resolution of this morning”s minimally sufficient bounce — Its reaction down accelerated along the way to 2091.50. But the past 20 minutes have been consolidating at the 2093.25 target.
Closing under 2099.25 would essentially put into play 2077.00. Recovering 2099.25 from here and from now would require a steep surge. Otherwise, there”s no requirement to extend down any deeper today, other than to neutralize the low”s oversold RSIs.
Daily Spot… Bonding.
A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today”s Market Wrap.
Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Wednesday”s rejection of Tuesday”s probe above 1.0920 didn”t prevent rallying overnight to gap up Thursday above Tuesday”s 1.0977 high up to 1.0260 1.1026. There”s still room up to 1.0475 1.1047 without yet signaling the trend has reversed up.
Gold Aug Contract (GC, ETF: (GLD))
Initially bouncing overnight set-up a test of 1100.00 resistance, which held intraday Thursday. Resuming the decline would still next target 1176.50.
Silver Sep Contract (SI, ETF: (SLV))
Trading flat-to-lower Thursday continued avoiding fresh lows, but the pattern is still likely to probe fresh lows before any rally effort would be credible.
30-year Treasury Sep Contract (US, ETF: (TLT))
The rally extended Thursday to fulfill the next higher attraction, filling the gap outstanding back up to 154-00. A fresh high close remains in-play and likely to test 154-20, especially so long as pullbacks hold 153-18 as support.
Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The decline extended Thursday to fulfill the 48.25 target. Closing back above 49.30 would start to signal momentum reversing up.
Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Firming Thursday ahead the EIA report then blipped-up to 2.95 and collapsed back down to the 2.83 pullback limit, which needs to hold to maintain further upside potential.
Livestox, Jul 23 2015… Big payoffs
Livestox started with a look at the broader market, which is undergoing what still has potential to be only a temporary dip before resuming the rally. Then we discussed the following stocks in this order, each with at least one informative charting tip that can be applied to other stocks and indexes:
CARA
TRTC (hemp, mdbx)
GWPH
ATTBF
GPRO
AAPL
FB
TSLA
BIIB
GILD
CELG
FEYE
KEYW
CYBR
OXIS
TKMR
SCTY
FOLD
AXON
PPCH
Look ahead: Economic Calendar – for Fri Jul 24 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights:
Of Friday”s two econ reports, only PMI has a track record of influencing price action. Coming at 9:45, it might impact the opening 15 minutes of volatility reading.
*PMI Manufacturing Index Flash
9:45 AM ET
New Home Sales
10:00 AM ET