Posts by Rod David
Livestox starts at 12:15pm ET,
Livestox starts at 12:15pm ET, at
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There”s a rally underway, and option expiration tomorrow. We”ll examine the relevant patterns and their consequences. Crude Oil and Gold have broken lower, which is either part of forming stronger bottoms or else extending their downlegs — we”ll examine those scenarios, too. Meanwhile, you”ve probably already seen my updates on various stocks posted to the Activity Feed, but they”re repeated below for indexing by the Marketfy search engine. Most notably is NFLX meeting its target today, CARA trying to probe above its target, TRTC finally fulfilling its .09-handle target, and more.
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Prior posts to be indexed by the Marketfy search engine:
Brett-ster — Rod, BITCOIN has been going up on steadily increasing volume. Any idea on resistance levels? Posted 6 days ago
Rod-David — BITCOIN — Today”s surge is testing a critical area at 274-285.50. This is appearing as a Rising Wedge breaks higher. Closing back under 274 would suggest a pullback to 250 is likelier than extending higher. Posted 6 days ago
Tony 48.75VAPEs — Rod, does it look like UBQU could resume it”s rally or has it done too low of a dip? Thanks Posted 6 days ago
Rod-David — UBQU — Anything between .05 and .15 will not predict the next direction, only the distance for that direction. Breaking above .15 could target .30 or .40. Posted 6 days ago
casjf — RXDX – is this a weird descending triangle, or is this just consolidating? Support & resistance levels please. Posted 6 days ago
Rod-David — RXDX — Seems to be backing-and-filling. If this test of 15.30-15.55 isn”t sufficient to resume the rally, then a deeper dip to 12.85-13.75 had better hold to avoid reversing the trend back down. Posted 5 days ago
Jo B — thanks Rod, on MDCN it”s already at .0001 , so can u please adjust the parameters. and for WOGI what is the resistence? ty Posted 3 days ago
fennecby — morning. Where might TEVA be going? Last time around (March) it added a dime to your target (68.65). Posted 3 days ago
Rod-David — MDCN — Thanks… New parameters are .000-.001 Posted 3 days ago
Rod-David — WOGI — Resistance is .012, thank you. Posted 3 days ago
Rod-David — TEVA — The minimum 68.65 target of March”s rally was indeed pierced by a dime before beginning a reversal down to ~58.50. Now a bounce to 63 is trying to launch another rally leg, which would be confirmed above 64, Its targets would be to retest the high, and possibly also to extend to 75.30. Volume patterns could stand to improve somewhat, but closing back under 60.85 would suggest the rally effort had failed. Posted 3 days ago
fennecby — thanks. Posted 3 days ago
casjf — DUK – support and resistance Posted 3 days ago
guanito — lol MDCN Posted 3 days ago
casjf — EPD – support and resistance Posted 3 days ago
Rod-David — DUK — 75.35 resistance being tested now. Closing back under 72.55 would signal that the test had failed, targeting fresh lows at 68. Posted 3 days ago
Rod-David — EPD — This is an ongoing downtrend with resistance now at 31.55, meanwhile next targeting 28.60 Posted 3 days ago
kit650kr — YO ROD! can you set parameters for IDTI and TIK , please and thank you in advance…..gotta go Posted 3 days ago
casjf — TAN – support & resistance Posted 2 days ago
Rod-David — IDTI — Bounces have room up to 20.45 before being likely to resume the decline targeting 18.50. Closing above 20.45 could begin forming a bottoming pattern. Posted 2 days ago
Rod-David — TIK — Closing above 5.85 and 6.20 would start to signal a bigger upleg underway, especially if accompanied by expanding volume. The pattern otherwise has no requirements. Posted 2 days ago
Rod-David — TAN — 33.75-34.80 support has reacted up, with room to 38.10 before suggesting more than a temporary corrective bounce is underwa. Posted 2 days ago
AdrianAvant — Hey Rod, Posted 2 days ago — “Edited”
AdrianAvant — Hey Rod,
What do you think of ENZN? Is that a flag forming for a potential upward extension? I”m looking at a 60 day chart….looks like it extended up into an ascending triangle before extending up again into a flag formation? Close? Posted 2 days ago
Rod-David — ENZN — Volume patterns continued expanding during the “mast” formation so that the “Flag”s” contracting volume can be considered bullish. I prefer to consider the top”s pattern as a Symmetrical Triangle, a pattern that tends often to break falsely initially before reversing more substantially in the opposite direction. And this triangle has already broken lower, so that no reversing upward on expanding volume would be credible for resuming the rally. Posted 2 days ago
kit650kr — YO ROD! PLZ look at ANIP….can u set resistance for me? Posted 2 days ago — “Edited”
Rod-David — ANIP — One close under the 59.60 pullback limit was enough to attract new sponsorship for firming back up to 62.75, and now to surge higher to test 68, targeting 69.25-70.50 so long as pullbacks now hold 64.80. Posted 2 days ago
casjf — AMSG – support & resistance Posted 2 days ago
kit650kr — thanks BOSS a lot of good things coming out about ANIP lately Posted 2 days ago
casjf — VAPE – the weekly blog shows the trend is down. When is the trend no longer down? Once it gets above ~ .65? Posted 2 days ago
Rod-David — AMSG — Now targeting 75.55 and 84 so long as pullbacks hold 66.40 Posted 2 days ago — “Edited”
Rod-David — VAPE — Switching from downtrend to uptrend requires at least recovering a prior high. Posted 2 days ago
casjf — Thanks, Rod! Posted 2 days ago
Jo B — thanks! Posted 2 days ago
Rod-David — ATTBF — There have been some interesting volume patterns in the nickel area. Closing above .085 would target .127. Fresh lows would otherwise open the door to trading sub-penny. Posted 2 days ago
Josey — Hi Rod, What would be a pullback target on VDSI for a long position? TY Posted 2 days ago
Rod-David — VDSI — 26.70-27.80 pullback limit, the upper-end of which is being tested now, and below which would have room down to 25 Posted 2 days ago
Rod-David — VAPE — Extending higher again today, needing to hold .40 support to maintain the upward momentum Posted Yesterday
Rod-David — TRTC — The consolidation hovering just above prior lows is suggesting that the likely long awaited .09 test will probe even lower before being able to recover. In case of testing .09, I”ll be updating comments immediately. Posted Yesterday
casjf — NLNK – support and resistance Posted Yesterday
Rod-David — NLNK — Now challenging 50.15 resistance, whose recovery would next target 54.25-55.25 Posted Yesterday
guanito — Hi Rod – MINE – on death row? no interest/volume. Tks. Posted Yesterday
Rod-David — MINE — Closing above .004 on expanding volume would be interesting. But there was otherwise no bullish reason to return to .003 where last year essentially finished out, and its obligatory support has already produced a bounce, so fresh lows continue to be likely Posted Yesterday
Rod David — Huge power outage in our area due to a storm which apparently has also knocked out both of my internet connections. Currently making arrangements to broadcast again. Thanks for your patience! Posted Yesterday
kit650kr — YO ROD…look at CELG…new price target of $191.00 from the “professionals”. WHAT DO YOU THINK BOSS? Posted 19 hours ago — “Edited”
Miss Kitty — Update on NFLX please in terms of considering a short entry. Posted 18 hours ago
fennecby — sold CARA today – thanks Rod. In @11.50, out @14.40. Posted 18 hours ago
Rod-David — CELG — My projections get to 154.80, although that would require closing today above 136 and not under 131.50 Posted an hour ago
Rod-David — NFLX — My post-split 745 target equates to 106.42, which is being tested today./ Closing under it today would start to signal at least a corrective dip targeting 95.50. Posted an hour ago
casjf — OHRP – support & resistance Posted an hour ago
casjf — TKMR – support & resistance Posted 38 minutes ago
casjf — Are we having LiveStox today? Posted 37 minutes ago
Rod-David — OHRP – Next targeting 4.50 so long as 3.57 holds as support Posted 32 minutes ago
Rod-David — TKMR — In a downtrend, next targeting 8.7- and sub-8 Posted 29 minutes ago
fennecby — NDRM – both your levels reached and then some (15.75, 18.35).
Now what? (Holding through a 10% holding company). Posted 29 minutes ago
Rod-David — LIVESTOX at 12:15 ET, details coming shortly Posted 29 minutes ago
Rod-David — fennecby — what does “Holding through a 10% holding company” mean? Posted 28 minutes ago
fennecby — Just that there”s a company in Israel that has a 10% stake in NDRM.
Sorry, that was not very clear (-: Posted 26 minutes ago — “Edited”
Rod-David — NDRM — A lot of resistance coming into play at 19.80-21.10. Getting through it would confirm the upleg underway isn”t just retesting January”s prior high to form a Double Top Posted 22 minutes ago
fennecby — thanks. Posted 16 minutes ago
Post-open review… Full count.
Sellers take two swings at regaining control.
The premise for a corrective dip relied largely on sellers rejecting the pre-open surge to 2115.50. Which they did, reacting down to the 2111.00 bias-up target.
Reacting up 5 points from that 2111.00 support wasn”t optimal for the premise, but neither was it invalidation. In fact, 2111.00 was retested again.
But that dip also bounced — so far, only up to 2114.00, and not to its origin, let alone through a 2114.25 buy signal. And while bouncing, the 10:15 and 10:30 timing windows have come and gone, without downtrending underway.
So, this morning is a bias-up environment. Its target was being touched at 10:15, instead of renewing the bias-up. Fresh lows could test the 2107.25 bias-up signal as support. It”s too late to invalidate it.
Unless 2107.25 is probed after exiting the bias environment, the afternoon could resume the rally. A deep corrective dip isn”t any likelier.
The overnight rally has extended
The overnight rally has extended to 2115.50. This extra optimism only reinforces the premise for correcting down through Friday morning. But it also requires that premise to be obvious soon after the open, or else a relentless march to new highs is underway. Details and other market coverage were reviewed during the pre-market Tour, recorded here:
https://roddavid10.mitel-nhwc.com/join/tyfzswy
The First Trade… A lot of forks in this road.
Proper context can start the day with a solid win and make all the difference.
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(pre-open Market Tour begins at 8:55 ET)
Through the prior close…
Piercing Tuesday night”s fresh high 2107.50 by 1 tick Wednesday morning expended the day”s selling pressure Ranging narrowly around unchanged through two timing windows waited for the afternoon”s bias environment to begin lapsing. Then a 10-point plunge touched 2095.00, which was recovered to end the day essentially unchanged. Oversold RSIs were left outstanding at the low. WedEX did not trigger.
Overnight action”s new info…
The plunge”s recovery soon extended to probe fresh highs at 2108.50. A shallow pullback soon resumed the rally, most recently touching 2113.50.
If, then…
Monday”s confirmed breakout was either going to begin a correction Wednesday, or else extend relentlessly to fulfill its target of new highs. Wednesday afternoon”s plunge had the opportunity to be that correction”s beginning. Completely retracing the plunge had extra opportunity to start that correction, having neutralized the plunge”s oversold condition while leaving unfinished business below at the low”s oversold RSIs. Yet, the rally soon resumed and extended to fresh highs overnight. Thursday”s gap up (currently indicated, with Draghi yet to speak this morning) will be the last opportunity to initiate a corrective dip through Friday morning — more unfinished business would be left outstanding above, with both a new opening gap up and a late bullish WedEX signal. Otherwise, not yet reversing down this morning could extend the trend through Monday”s open.
First Trade…
Exiting the open at 9:45 above 2115.00 would be likely also to exceed the 2111.00 bias-up target through 10:15 to renew the bias-up signal. Exiting the open above 2108.50 would be likely also at least to trigger the 2107.25 bias-up signal. Exiting the open under 2104.00 would be unlikely to trigger bias-up.
Wednesday afternoon”s 10-point plunge almost
Wednesday afternoon”s 10-point plunge almost did what the morning could have done, trap shorts to fuel the rally”s resumption. But being later, the plunge needed to be deeper to be relevant. Instead, completely retracing it into the close left no bullish consequence outstanding for Thursday. The corrective dip can extend lower.
Unless it”s not extending lower immediately by gapping down. Regardless of the 2095 low”s oversold RSIs that require a retest, the rally can resume without delay Thursday by maintaining a gap up above the 2105.50 area. New highs would be in-play, perhaps by Thursday”s close.
As for the WedEX, the morning”s temporary fresh high was the basis for a bearish signal. But its reaction down was never so relevant as to reject the temporary fresh high. Gapping down sufficiently at Thursday”s open could serve by proxy. But there is otherwise no WedEX signal.
Here”s more detail and other markets coverage in the post-market Wrap:
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Overnight links to the chaRTroom are here:
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xp UN-friendly: https://roddavid10.mitel-nhwc.com/join/shkphyy