Rod David – Page 1856 – If, Then… Market Timing

The First Trade… Pessimism is alive and, well, it’s alive.

By Rod David | May 18, 2015 - 7:42 am

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 2122.75 pre-open high during Globex was not complex, so it was not a “new Globex trend extreme” that required intraday retest. Sellers tried to exploit it, but the morning”s reaction down to 2113.00 held repeated tests of Thursday afternoon”s 2115.00 prior low. The bullish WedEX presumably became operational as the afternoon rallied back up to 2119.50.

Overnight action”s new info…
Sunday night”s open blipped-up to touch 2120.75 before reversing back down to attack 2115.00. Europe”s opens were accompanied by a dive to 2112.25. Despite recovering back to 2120.00, renewed weakness is attacking the low.

If, then…
Regardless of the opening print, the bullish WedEX makes Monday morning”s bias vulnerable to trending up. It was a late signal, and its influence Friday afternoon is only assumed, so its continued credibility depends upon exiting the open appropriately. Regardless of this morning”s resolution, sellers are still considered the weaker hands, since each lower high reflects pessimism that isn”t gaining traction.

First Trade…
Exiting the open at 9:45 under 2115.00 would be likely at least to test the 2111.75 bias-down signal. Exiting the open above 2119.75 would be likely at least to test the 2123.25 bias-up signal. No preliminary level is currently identifiable that would be any likelier to trigger either signal

Posted in S&P, The First Trade

Today”s chaRTroom links are below.

By Rod David | May 18, 2015 - 7:01 am

Today”s chaRTroom links are below. Enter any time, but be sure to join us there for this morning”s pre-market Tour at 8:55am ET:

XP-Friendly: https://www.anymeeting.com/483-626-282
non-XP ilinc: https://roddavid10.mitel-nhwc.com/join/bfyytsh

Posted in S&P

Friday afternoon”s “rally” had firmed

By Rod David | May 17, 2015 - 6:56 pm

Friday afternoon”s “rally” had firmed after the close, and has blipped-up to 2120.75 at Sunday night”s open. Its reaction down is consolidating around 2118.00. You can check-in during Globex at the following links:

XP-Friendly: https://www.anymeeting.com/716-409-020
non-XP ilinc: https://roddavid10.mitel-nhwc.com/join/bfyytsh

Posted in S&P

Saturday Review’s recording (for 5/16/15)… How the new highs play-out.

By Rod David | May 16, 2015 - 12:04 pm

This weekend”s Saturday Review started early and ended early, without covering any stock charts. Please feel free this weekend to post any analysis requests you need before Monday”s open to this post”s comments section.

The market analysis updated the ongoing quest to new highs. We discussed why the foray isn”t likely to last for very long, possible areas for its reversal, and what that reversal would look like. And most importantly, as always, why.

View the recording here in MP4, or here.

Posted in S&P, Saturday Review

The Universe, week of May 18 2015… Falling to the occasion.

By Rod David | May 16, 2015 - 10:55 am

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 ||

Last week in this space I beseeched the sector to produce some valid leadership, immediately. The sector did not listen to me. Several issues that had been toying with support probed lower. Several issues with flat rolling 4-week moving averages shifted down. Only thanks to a couple of improved issues did the percentage hold double-digits.

By way of describing how leadership could extend throughout the sector, I pointed to then-current price action in MCIG and VAPE. The former didn”t follow-through, but the latter did end the week at a new relative high. Worth at least looking at. I”ll update it on the Activity Feed, as I did with the GBLX signal I pointed out one week ago at .28 — this week ended with my .46 target serving as support to a pullback from .74.

The extended pop-ups appearing sporadically among issues, whether or not news-driven, probably won”t be enough to entice broader buying. But coining a phrase, a triple here and a triple there, and pretty soon you”re talking about real potential. For the broader base, hopefully it”s darkest before the dawn.

Marijuana Stock Universe for May 18 2015
Reference this table during stock reactions
4-week	# up:	10	10.00%
trends*	# flat:	22	22.00%
	# down:	68	68.00%
*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	0.015	0.040	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	0.084	0.156	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	flat
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	0.012	0.020	down
ENRT	0.032	0.050	down
ERBB	0.006	0.010	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	0.425	0.670	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	0.002	0.004	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	0.001	0.003	down
LXRP	0.180	0.250	up
MCIG	0.071	0.106	down
MDBX	0.140	0.850	down
MDCN	0.005	0.022	flat
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	0.055	0.080	down
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	0.005	0.019	down
NTRR	0.045	0.110	flat
OGRMF	0.304	0.615	down
OSLH	0.006	0.015	up
OXIS	0.030	0.044	flat
PHOT	0.019	0.065	down
PLPL	0.220	0.315	down
PMCB	0.140	0.215	flat
PNTV	n/a	n/a	down
PZOO	0.008	0.011	flat
QEDN	0.001	0.007	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	0.064	0.074	down
TAUG	0.054	0.079	down
THCZ	0.130	0.255	up
TRTC	0.090	0.215	flat
TURV	0.410	0.775	flat
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	0.535	0.740	down
VPOR	0.000	0.003	down
WDHR	0.000	0.002	down
WOGI	0.004	0.009	up
XTRM	0.003	0.005	down
XXII	0.820	1.160	flat

Posted in Bigger Picture