Posts by Rod David
The First Trade… Diametric opinions intact.
Proper context can start the day with a solid win and make all the difference.
CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)
Through the prior close…
Friday”s gap down to the recent range”s lower-end ranged choppily sideways, as participation thinned ahead of the three-day holiday weekend. Bounces back to unchanged at 2124.25 held two tests as resistance, with no traction gained either way.
Overnight action”s new info…
Even the holiday”s thinner market environment has shown no shortage of sentiment. Three dips and three bounces, each of significance. Sunday night”s opening bounce feel from 2127.00 to 2118.50 early Monday morning, before bouncing again to 2126.00. Its reaction down Monday evening attacked Sunday night”s low before bouncing to 2124.50 into Europe”s opens. That reacted down the hardest, testing this morning”s 2115.75 bias-down target. Now its reaction up is testing this morning”s 2122.50 bias-down signal as resistance.
If, then…
The likeliest path higher would isolate a sell-off in the Globex-only timing window, to be recovered already into the open. That was my comment Monday morning before Sunday night”s drop had been recovered fully. I did also note that Sunday night”s 2118.50 low could be retested, but last night”s attack to within 2 ticks would have sufficed. The 9-point plunge to 2115.25 may be starting to damage support. We”ll still give the upside every benefit of the doubt so long as bias-down doesn”t trigger, and more so if the open is back in positive territory. But even the plunge low can be probed today if buyers aren”t back in control very soon.
First Trade…
Exiting the open at 9:45 back above 2125.25 would be unlikely to trigger the 2122.50 bias-down signal at 10:15. Exiting the open under 2118.75 would be likely to trigger bias-down.
Globex is booting up, and
Globex is booting up, and here are the links to view it overnight. I”m monitoring this action live. Sunday night had bounced 2-1/2 points initially to 2127 before tumbling to 2118.50. As if that wasn”t volatile enough, the entire tumble was retraced back to 2125.50. A dip into close is essentially flat, almost 30 minutes past tonight”s Globex open.
Adobe is the XP-friendly link. Its mic won”t initiate, and I haven”t yet heard back from their techs for a resolution. (Ironically, the other xp-friendly software”s mic has a mind of its own.) When you”ve logged-in, please excuse the big data hole from this afternoon, which QCharts hasn”t recognized for being halted.
ADOBE (WinXP friendly):
https://meet29978259.adobeconnect.com/memoriald…
ilinc/Mitel (non-xp friendly)
https://roddavid10.mitel-nhwc.com/join/bfyytsh
Look ahead: Economic Calendar – for Tue May 26 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights: A lot of reports are crammed into the holiday-shortened week. Kicking it off is the highest-profile and most influential among them, Durable Goods. That tends to set the tone for reacting to the day”s additional reports, but that might lose meaning with this quantity. Three housing sector reports, two Fed surveys (which don”t usually impact price action when released individually), PMI and Consumer Confidence. If the data come in poorly as has been the trend, that will be challenging for the noon hour”s hawkish Fed speaker to argue seriously for near-term rate hikes.
Durable Goods Orders
8:30 AM ET
FHFA House Price Index
9:00 AM ET
S&P Case-Shiller HPI
9:00 AM ET
PMI Services Flash
9:45 AM ET
New Home Sales
10:00 AM ET
Consumer Confidence
10:00 AM ET
Richmond Fed Manufacturing Index
10:00 AM ET
State Street Investor Confidence Index
10:00 AM ET
Dallas Fed Mfg Survey
10:30 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Stanley Fischer Speaks – hawkish
12:30 PM ET
2-Yr Note Auction
1:00 PM ET
The Universe, week of May 25 2015… Still only anecdotal.
Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]
Links to || Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||
I”m observing more accumulative patterns. These include patterns that have been probing lower lows without triggering a new downtrend. Also, patterns that have bounced above a prior high, and then resolved a dip by bouncing higher. But, so far, these remain the exception and not yet the rule.
None of which is unusual. Six weeks ago I listed seven attractive stocks, five of which almost immediately began substantial double-digit runs, and a sixth that started later. Most have settled back. Three weeks ago I could find only one turnaround candidate, GBLX, which doubled and then some quickly. And the only candidate I”ve already found more recently and already mentioned is VAPE.
So, having multiple candidates today doesn”t ensure having only one candidate or none in several weeks. But here they are — we”ll review them during Livestox, but meanwhile post any opinions about them to this blog post”s comments section: CGRW, ENDO, PLPL, THCZ, TURV and still VAPE.
| Marijuana Stock Universe for May 25 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 11 | 11.00% |
| trends* | # flat: | 20 | 20.00% |
| # down: | 69 | 69.00% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | flat |
| AERO | 2.310 | 4.030 | down |
| AGTK | 0.008 | 0.022 | down |
| AMMJ | 0.360 | 0.570 | down |
| ARNA | 3.800 | 5.030 | flat |
| ATTBF | 0.071 | 0.117 | down |
| AVTC | 0.000 | 0.400 | down |
| AXXU | 0.037 | 0.140 | down |
| BLOZF | 0.280 | 0.570 | down |
| BLPG | 0.044 | 0.102 | down |
| BNRDF | 0.530 | 0.615 | down |
| BRDT | 0.032 | 0.094 | down |
| BTFL | 0.071 | 0.232 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 1.690 | 4.600 | down |
| CANV | 1.340 | 1.750 | down |
| CARA | 9.750 | 10.650 | down |
| CBDS | 1.830 | 5.630 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.027 | 0.038 | down |
| CGRW | 0.360 | 0.750 | up |
| CHUM | n/a | n/a | down |
| CNAB | 0.530 | 0.750 | flat |
| DEWM | 0.003 | 0.005 | flat |
| DIGP | 0.035 | 0.100 | flat |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.008 | 0.013 | down |
| EDXC | 0.019 | 0.047 | down |
| ENDO | 0.016 | 0.025 | flat |
| ENRT | 0.032 | 0.050 | down |
| ERBB | 0.003 | 0.007 | down |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | down |
| FITX | 0.005 | 0.012 | down |
| CAFS | 0.025 | 0.066 | up |
| FSPM | 0.000 | 0.250 | down |
| FULL | 3.100 | 3.640 | down |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.270 | 0.460 | up |
| GRCU | 0.000 | 0.004 | down |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 99.450 | 117.350 | up |
| HEMP | 0.016 | 0.025 | down |
| ICBU | 0.002 | 0.011 | down |
| IGRW | 0.000 | 0.002 | flat |
| IMLFF | 0.175 | 0.275 | down |
| INCC | 0.001 | 0.007 | flat |
| INSY | 49.950 | 59.750 | flat |
| ITNS | 0.006 | 0.011 | down |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.144 | 0.197 | up |
| MCIG | 0.055 | 0.084 | down |
| MDBX | 0.140 | 0.850 | down |
| MDCN | 0.005 | 0.022 | down |
| MDRM | 0.016 | 0.038 | down |
| MINE | 0.003 | 0.007 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.003 | 0.025 | down |
| MJNA | 0.072 | 0.100 | flat |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.210 | 0.330 | up |
| NDEV | 0.040 | 0.165 | down |
| NRTI | 0.002 | 0.003 | down |
| NTRR | 0.045 | 0.110 | flat |
| OGRMF | 0.304 | 0.615 | down |
| OSLH | 0.006 | 0.015 | up |
| OXIS | 0.023 | 0.033 | down |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.220 | 0.315 | up |
| PMCB | 0.140 | 0.215 | flat |
| PNTV | n/a | n/a | down |
| PZOO | 0.011 | 0.017 | flat |
| QEDN | 0.000 | 0.001 | down |
| REDG | 0.000 | 0.003 | flat |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.069 | 0.266 | down |
| SING | 0.008 | 0.016 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.141 | 0.230 | down |
| SRNA | 0.080 | 0.140 | down |
| STEV | 0.050 | 0.067 | down |
| TAUG | 0.004 | 0.008 | down |
| THCZ | 0.130 | 0.255 | up |
| TRTC | 0.090 | 0.215 | down |
| TURV | 0.710 | 1.11 | up |
| TWMJF | 1.420 | 1.860 | flat |
| UPOT | 0.150 | 0.550 | down |
| USEI | 0.000 | 0.003 | down |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 0.510 | 0.795 | flat |
| VAPR | 0.030 | 0.090 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.019 | 0.040 | up |
| VPCO | 0.330 | 0.600 | down |
| VPOR | 0.000 | 0.003 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.004 | 0.009 | flat |
| XTRM | 0.003 | 0.005 | down |
| XXII | 0.820 | 1.160 | flat |
I trust that you”re having
I trust that you”re having a pleasant Memorial Day weekend. Globex opens normally Sunday at 6pm ET, and trades until 1pm ET Monday. We”re trying Adobe”s conference room again. If it disconnects like last time, then check comments under this post in the Activity Feed for a new WinXP-friendly link.
ADOBE (WinXP friendly):
https://meet29978259.adobeconnect.com/memorialday2015
ilinc/Mitel (non-xp friendly)
https://roddavid10.mitel-nhwc.com/join/bfyytsh