Posts by Rod David
Care to join us for
Care to join us for Livestox at 12:15pm ET? Following are the instructions you”ll need. First-time users should try entering the room at least 15 minutes prior, so you can let me know of any difficulty you encounter while there”s still time to resolve it.
Meanwhile, post any stock chart analysis requests to this thread.
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https://roddavid10.mitel-nhwc.com/join/pcxsrhm
optional teleconference instructions (required for iPad and tablets):
1-605-562-0020
Meeting ID 976-912-682 #
Other requirements can be found here:
http://marketfy.com/product/stock-technical-trade-alerts/blog/1143/view/60141/
Post-open review
Distinction without a difference?
The pre-open dip to 2101.50 had reacted up to 2015.25. Suddenly, the rubber band greeting the open was stretched in the other direction. Rather than snapping up, it snapped back down to retest 2101.50.
But 2101.50 support held. So did 2103.25 resistance, the bias-up signal. It was still being tested to within 1 tick within 3 minutes of 10:15, after recovering from two more probes under 2101.50.
Ultimately, the 2103.25 bias-down signal wasn”t recovered. This is a bias-down environment, late or otherwise.
It”s too late to be invalidated simply by recovering back above the bias-down signal by 10:30. Now invalidating bias-down must avoid a fresh post-open low under 2100.00, and recover the 2105.00 post-open high by 11:30.
Currently, the 2103.25 is still being overlapped. But back under 2101.50 would probably prevent us considering another buy signal, at least prior to fulfilling the 2097.50 bias-down target if not also probing under it by 2 points deeper.
Monday”s pre-open Market Tour discussed
Monday”s pre-open Market Tour discussed how to consider playing the gap down threatening the open, and then reviewed interesting overnight action among other coverage:
https://roddavid10.mitel-nhwc.com/join/xmjycfr
The First Trade.
Proper context can start the day with a solid win and make all the difference.
Enter the Chartroom here (pre-open Market Tour begins at 8:55 ET)
Through the prior close…
Friday morning”s dueling Grexit headlines (deal/no-deal) stopped influencing price action, word of a delay did then drive the market down. Through the open. Its fourth consecutive gap down was the first not to hold a test of the bias-down signal, and instead held a test of the bias-down target down to 2082.50. Apparently, that finally stretched the rubber band sufficiently, since the balance of the session rallied to 2108.50 as an accord between the Eurogroup and Greece was reached. Expiration and the Friday Factor helped. The last outstanding upside target at 2101.50 was neutralized, while creating a new objective with overbought RSIs into the final hour.
Overnight action”s new info…
Goodbye, 26-point rally. Hello, 6-tick trading range. Price began trending down under 2106.00 ahead of Europe”s opens, slowing and consolidating within a couple of ticks of 2101.50 support. Its momentary touch has reacted up to attack 2104.00.
If, then…
Is Greece still there? I mean that figuratively, although someone in the vicinity might want to check for a pulse. Perhaps their seeming non-existence is just an illusion created by the sudden relative quiet, compared to last week”s headline saturation. The quiet can facilitate a gap down, but it”s currently too shallow to prevent retesting Friday”s high.
First Trade…
Exiting the open at 9:45 under 2101.50 would be likely also to trigger this morning”s 2103.25 bias-down signal at 10:15. Exiting the open above 2107.00 would be unlikely to trigger bias-down, and exiting the open above 2108.50 would be likely to trigger the 2109.50 bias-up signal.
Saturday Review’s recording (for 2/21/15)
[I have learned that there will be no transcript to this weekend”s Review, and I apologize for any inconvenience.]
This weekend”s Saturday Review begins with a joke. Some might think that means I read a list of current market valuations. Actually, we”ve been these new highs have been anticipated, as has been the character of their test. That same template has a specific expectation for its resolution, too. We discuss that and other relevant items, then review stock chart requests from subscribers.
Gail : good morning
Mark : gm
Mark : is DOW outperforming other indexes now?
David B: the nasdaq is?
David B: outperforming the others along with the russell?
bill g: A pivot rev on Monday would still leave an additional high close
at some point due to a new high Fri close. It may be a sign of a larger
correction first?
M K: 1250 here we come!
M K: =)
M K: 2250
M K: wow
M K: someone hasn”t had their coffee
Mark : AAPL higher targets?
David B: M,GDX
M K: i was reconciling my sheets from last year and was laughing
M K: at the prices
David B: CEMP.FB
M K: SNH
M K: CAT
M K: RY
M K: ULTA
M K: GME
M K: GEF
M K: BWLD
M K: AVP
M K: CBI
M K: NFLX
M K: RH
M K: TPX
M K: VEOEY
M K: ignore
M K: moving on
M K: yeah
M K: some of these charts are just mind boggling
M K: nice DA reference!
M K: I can send you the whole season. I get it from british bbc. So
we”re already through the season
David B: CRM,NXPI
M K: hahaha
M K: the # of parabolic charts are interesting
M K: hahaha
M K: whooops
M K: wifey must have been upset
M K: mine was beside herself
M K: d”oh
M K: ok
M K: yeah i got long on that gap
M K: ok
David B: earnings wed
M K: re: GEF noted short selling firm came out with article
M K: stating funny books and lack of cashflow to cover dividend for
forseeable future
M K: yeah
M K: my thoughts
M K: was looking for strength to fade for low r/r
M K: maybe back into 44.50?
M K: oh ok
M K: i”ll just watch then
M K: thanks
M K: haha
M K: was debating fading here
M K: ok
M K: good to hear
M K: i”ll push that
M K: oh ok
M K: i”ll cale in that 500 level
M K: scale
M K: RH shorted the divergnece
M K: ok
M K: i”ll pare off some of the short
M K: and re-short
Mark Glezer: would u expect NFLX to go to the lower end of the channel &
possibly lower if it gets there?
M K: under 82
M K: RE: TPX
M K: thank you for the levels
M K: i pressed 56 and shorted more
M K: covered some friday
M K: with market as strong as it is
M K: probably cover a lot
M K: and re-short under 52
M K: VEOEY is Veolia (VE) they delisted from ADR to save on costs
M K: was a huge postion of mine
M K: still large
M K: but not as much
M K: oh ok
M K: its fine
M K: yes
M K: near end of year
M K: if you pull back to much longer term
M K: before they had all their accounting issues
M K: a break of 21 could be huge no?
M K: ok thanks
M K: have a great day
M K: thanks for taking the time to do all the stocks
M K: up up and away!