Posts by Rod David
Livestox, Jul 16 2015.. Lots and lots of stocks
Stocks discussed during Livestox are listed below in order. Unfortunately, a technical issue prevented saving the chat transcript.
TRTC
MINE
CARA
BLPG
ATTBF
VAPE
NFLX
GOOGL
GILD
CELG
TWTR
TSLA
BABA
AAPL
GPRO
SIVB
FEYE
GLK
USO
GLD
FOLD
IMGN
KITE
SZYM
SRPT
INSY
FLSR
PSDV
Daily Spot… Bigger bond bounce, while Gold gels.
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))
Stopping optimistically short of touching prior lows Wednesday revealed weak-handed buying pressure, which Thursday”s gap down testing 1.0865 proved. Bouncing back to the decline”s 1.0935 target as resistance, the opening gap reflects lower lows yet to come.
Gold Aug Contract (GC, ETF: (GLD))
Gapping down Thursday to Wednesday”s lows and no lower reflects weak-handed selling pressure. It”s not necessarily a bottom, and won”t necessarily avoid touching 1138.00. But probing above 1151.00 would be credible for extending higher without leaving unfinished business below.
Silver Sep Contract (SI, ETF: (SLV))
Gapping down Thursday was reversed briefly into positive territory before spending the afternoon ranging narrowly around unchanged. Probing above Thursday”s 15.15 intraday high would be likely to extend in that direction.
30-year Treasury Sep Contract (US, ETF: (TLT))
Wednesday”s tenuous close above 150-24 was retraced to test the 150-08 pullback limit down to 150-00 Thursday morning. It held, and rallying through the noon hour to fresh highs at 151-20. A second consecutive higher close would confirm Wednesday”s breakout, regardless of any unfinished business below being left outstanding.
Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday”s probing under 51.00 may be exploiting the continued delay in rallying that has made fresh lows targeting 48.00 increasingly likely.
Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
The reaction to Thursday”s EIA report was negligible. This, despite the pattern”s excuse for reversing down since Wednesday”s inside day had neutralized the attraction back up to Tuesday”s 2.91 opening gap up. The 2.83 pullback limit was attacked, and its break would still target at least 2.77. But any new strength through 2.91 would be credible for extending higher intraday.
A third late rally?
Pattern now requires bulls to repeat themselves. Again.
The bias environment began lapsing at 11:30, which allowed a fresh high above 2114.25 to extend higher into the noon hour. Extending higher trended, meaning that one fresh high”s reaction down was recovered to a second fresh high. This is not noise.
Fresh highs touched 2116.50, which isn”t substantial. Not being substantial, its reaction(s) dip more easily back under prior highs. But it”s only noise, so long as 2112.50 isn”t probed, too.
This afternoon”s “no-bias” environment comes within view of lapsing 45 minutes from now. Probing under 2111.00 would be credible for sliding through the close — like yesterday, except no recovery. Meanwhile, extending higher would require duplicating the prior two sessions” pattern, which doesn”t happen often.
Look ahead: Economic Calendar – for Fri Jul 17 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights:
Any meaningful reaction to Friday”s pre-open CPI is likely to be duplicated in reaction to the post-open Consumer Sentiment number, so long as the data aren”t diametrically opposed.
*Consumer Price Index
8:30 AM ET
Housing Starts
8:30 AM ET
*Consumer Sentiment
10:00 AM ET
Afternoon bias
| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 2124.00 | 2117.00 |
| …would target | 2128.75 | 2122.00 |
| Bias-down: under | 2117.75 | 2111.00 |
| …would target | 2112.50 | 2105.50 |
| Signal status: NO-BIAS | 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.