Posts by Rod David
Did Monday”s opening and closing
Did Monday”s opening and closing rallies signal put new highs into play for Tuesday? Probably. It”s what happens then that”s going to be critical. That was reviewed during the post-close Market Wrap, recorded here:
https://roddavid10.mitel-nhwc.com/join/hthsxrr
Daily Spot
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 Mar Contract (EC, ETF: (FXE))
Monday”s gap up got no further than did Friday”s gap up, before reversing to spend the session ranging around unchanged, as did Friday”s gap up.
Gold Apr Contract (GC, ETF: (GLD))
Sunday night”s 1223.00 high probed Thu-Fri highs to threaten a breakout from an ascending triangle pattern, but the session resolved down back to Thu-Fri 1206.00 lows. Post-close action probed lower to test 1204.50, likely on the way to 1195.00 or lower.
Silver May Contract (SI, ETF: (SLV))
Monday”s narrow range started breaking lower post-close, but not with sufficient force to be assured another downleg has begun.
30-year Treasury Jun Contract (US, ETF: (TLT))
The ~161-00 pullback limit finally broke lower, extending down to test the low”s 159-24 pullback limit. It was probed a little more deeply after the close. Closing above 160-24 would help to avoid extending back down to retest prior lows.
Crude Oil Apr Contract (CL, ETF: (USO, USL) 3x UWTI-long, DWTI-short))
Thursday”s breakout under 49.00 wasn”t confirmed Friday, and now Monday has extended the reaction up to test 51.00. But unless that were continued into a surge above 51.25, another break under 49.00 remains likely to launch a more obvious downleg targeting new lows (albeit temporary new lows).
Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Rather than attack the 2.77 buy signal, Monday dipped back down to last week”s lows. It didn”t close lower, so the buy signal remains credible if triggered.
Livestox, March 2 2015
Thanks to everyone that attended Monday”s Livestox. I hope the chart analyses were as informative as the technical and charting techniques we described. Following are the stocks we reviewed, in order:
DEWM
TAUG
TRTC
ATTBF
STEV
GWPH
NTRR
VAPR
MCIG
ERBB
GBLX
PAL
UWTI
REGN
FITX
ISIS
BTU
VDSI
Have the morning’s buyers rested?
Window opens for final hour surge.
This afternoon”s no-bias environment ranged sideways, as no-bias environments should. Neither of its bias was touched prior to the 1:20 bias timing window. Neither of its signal was touched prior to the bias environment lapsing at 2:30. And still the signals remain untouched upon entering the final hour.
Is something happening beneath the surface that isn”t obvious above it? Buyers didn”t gain any traction on the bias environment”s exit, which was within the noon hour”s range. But the final hour”s entry is at least piercing the upper-end of both.
Extending to fresh session highs above 2112.75 through the 3:10-3:20 timing window would get a benefit of the doubt for gaining traction. The balance of the session would be likely to extend higher into the close.
Otherwise, there is no bearish consequence to not extending higher this afternoon. A dip might target 2106.50, but not necessarily fresh lows. And tomorrow”s session would still be vulnerable to rallying.
Look ahead: Economic Calendar – for Tue Mar 3 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights:
No high-profile or influential reports are schedule for Tuesday.
Motor Vehicle Sales
Gallup US ECI
8:30 AM ET
Redbook
8:55 AM ET
4-Week Bill Auction
11:30 AM ET
52-Week Bill Auction
11:30 AM ET