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Bigger Picture – Page 400 – If, Then… Market Timing

Bigger Picture

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, UUP))
Gapping up Monday retraced 61.8% of Friday’s drop up to 1.0922, essentially holding 1.0900 resistance to keep alive the potential for resuming the slide to 1.0785.

Gold Feb Contract (GC, ETF: (GLD))
Surging at Monday’s open to fresh highs above 1121.50-1122.00 came just in time to prevent Thursday and Friday’s test of 1114.00 support from breaking lower. The 1131.50 target remains in-play.

Silver Mar Contract (SI, ETF: (SLV))
Opening firm Monday probed above 14.35-14.40 whose recovery would resume the rally.

30-year Treasury Mar Contract (US, ETF: (TLT))
Monday’s pullback now allows a break under 160-00 to signal a deeper dip underway targeting 157-10. Extending higher would meanwhile continue to target 162-26.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 34.80 corrective bounce target that was touched Thursday wasn’t retested before Sunday night’s slide that extended down sharply Monday to 31.25. Gapping up Tuesday above 32.50 would reject the slide, but otherwise the corrective bounce has ended.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Gapping up Friday had over-optimistically avoided dipping to test the range’s 2.18 “lower prior highs.” Gapping back down Monday avoided a second consecutive higher confirming close, but left outstanding the gap back to Friday’s 2.30 close to encourage a recovery.

Look ahead: Economic Calendar – for Tue Feb 2, 2016

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights: Tuesday’s econ calendar is slow until the afternoon’s Fed speaker. Things start getting busy as Friday’s Employment Situation report nears.

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

*Esther George Speaks
1:00 PM ET

.

The Universe, week of February 1, 2016…

[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.]

No new patterns to report this week as suddenly being attractive. Indeed, nothing significant to report for the sector. Except for one or three things. The one thing is cannabis-related biotechs, and the three things are GWPH, INSY and CARA — all of which extended to fresh relative lows. Mark the prior week’s consolidation ranges, and note that their recoveries would be bullish.

Meanwhile, finishing touches are being made to the IPC model portfolio and site structure, which I hope to unveil later this week.

Marijuana Stock Universe for February 1, 2016
Reference this table during stock reactions
4-week # up: 5 6.02%
trends* # flat: 22 26.51%
# down: 56 67.47%
*The percentages of stocks rising or falling over 4 weeks.
symbol support resistance 4-week trend
AERO 0.830 1.260 flat
AGTK 0.000 0.003 flat
AMMJ 0.070 0.160 flat
ARNA 0.950 1.650 down
ATTBF 0.035 0.075 flat
BLOZF 0.087 0.163 down
BLPG 0.015 0.086 down
BRDT 0.012 0.031 flat
BTFL 0.002 0.005 down
CAFS 0.001 0.011 down
CANL 0.053 0.290 down
CANN 0.350 0.550 flat
CANV 0.110 0.215 down
CARA 7.650 11.150 down
CBDS 0.510 1.850 down
CBIS 0.005 0.017 down
CGRW 0.360 0.610 flat
CHUM n/a n/a down
CNAB 0.150 0.330 down
DEWM 0.002 0.004 flat
DIGP 0.120 0.220 down
DSCR 0.000 0.025 down
EAPH 0.004 0.009 flat
EDXC 0.007 0.019 down
ENCC n/a n/a down
ENDO 0.002 0.004 down
ENRT 0.005 0.014 down
ERBB 0.001 0.003 down
ETST n/a n/a down
EXMT 0.000 0.004 down
FITX 0.000 0.005 down
FULL 2.050 2.520 down
FWDG 0.000 0.002 down
GBLX 0.117 0.205 down
GRNH 0.026 0.042 flat
GWPH 44.650 58.800 down
HEMP 0.010 0.040 down
ICBU 0.000 0.003 down
IGRW 0.000 0.002 down
IMLFF 0.110 0.180 flat
INCC 0.000 0.002 down
INSY 12.000 22.250 down
ITNS 0.001 0.005 up
KAYS 0.067 0.187 flat
LXRPD 0.133 0.209 down
MCIG 0.023 0.040 flat
MDBX 0.006 0.051 down
MDRM 0.025 0.060 up
MINE 0.029 0.068 flat
MJMJ 0.000 0.001 flat
MJNA 0.028 0.044 down
MNTR 0.220 0.036 down
MSRT 0.830 1.410 down
MYEC 0.008 0.012 down
MYHI 0.013 0.100 down
NMUS 0.450 1.070 flat
NTRR 1.120 1.800 flat
OGRMF 0.510 0.920 flat
OXIS 0.470 2.650 down
PHOT 0.004 0.014 down
PLPL 0.026 0.069 down
PMCB 0.064 0.091 down
PNTV 0.002 0.005 up
PZOO 0.000 0.002 down
RMHB 0.014 0.033 down
RSSFF 0.030 0.100 down
SING 0.005 0.012 down
SPRWF 0.325 0.450 up
SRNA 0.070 0.100 flat
STEV 0.005 0.024 down
TAUG 0.001 0.004 down
TRTC 0.115 0.160 up
TURV 0.463 0.770 flat
TWMJF 1.800 2.400 flat
UPOT 0.010 0.050 down
VAPE 0.003 0.023 down
VAPR 0.000 0.020 down
VGPR 0.000 0.002 down
VHUB 0.025 0.048 down
VPCO 0.020 0.160 down
WOGI 0.001 0.004 down
XTRM 0.001 0.004 flat
XXII 0.089 1.395 down

Saturday Review’s recording (for 1/30/16) …

We had tested a new chaRTroom platform several times during the week, and then used it exclusively for this weekend’s session. The room limitation was not met but some subscribers were denied access anyway. We’ll continue using Anymeeting until that and any other issues are resolved.

MP4 Recording

The following stock requests were reviewed in this order:
GOOGL, GDX, AAPL, AMZN, DDD, SIG, CAT, CFX, PANW, DD, GDXJ, RGLD, DVA, HCA, NKE, SLB

8:27 Rod     test rod 1
8:27 Rod_1     test rod 2
9:02 Steve     Looks good on desktop, unfortunately when I tried to log in on an ipad I got a message that screen sharing is not supported on mobile platforms.
9:16 Bill G     was unable to use on my xp machine. Seems fine on this one.
9:19 Rod David     I’m running it on XP right now on another machine
9:19 Rod David     I’ll find out about iPad, the product claims to be compatible
9:22 Bill G     What browzer are you using on your xp?
9:23 Rod David     Firefox
9:25 Bill G     ok, for today, I’ll use this machine and put firefox on the xp. I have IE
9:26 Rod David     Let me know the result
9:27 Bill G     good
9:33 M_K     test
9:33 David B     Good Morning
9:34 M_K     Did we figure out about Mute?
9:34 David B     does it work on ipad?
9:34 M_K     no
9:34 Josey     no
9:35 M_K     Rod, I still can’t mute you
9:36 M_K     thats kind of a big deal for me
9:37 M_K     OH sweet
9:37 M_K     windows 10
9:37 M_K     i just figured it out
9:37 M_K     how to mute just the program
9:37 M_K     only if you have windows 10
9:37 M_K     lower right corner
9:37 M_K     there is an audio icon
9:37 M_K     click on it
9:38 M_K     you wind up with a selector for different programs and the audio
9:38 M_K     is listed as “chartroom meeting”
9:38 M_K     and i muted it
9:38 M_K     and my system sounds worked
9:39 M_K     i think the statistic was
9:39 M_K     of all the fridays in december/jan
9:39 M_K     70% of them have been 2% moves or more
9:55 David B     nasdaq has been underperfoming does this mean if we are going to 1969 will need to ourperform?
9:55 David B     outperform
9:59 David B     GOOGL,GDX
9:59 M_K     AAPL
9:59 M_K     AMZN
9:59 M_K     CAT
9:59 Josey     DDD, SIG
10:00 M_K     CFX
10:00 David B     GOOGL earnings on mon. going in on strength?
10:00 Josey     PANW, DD
10:01 M_K     FB
10:01 M_K     Josey: i was looking at PANW as well
10:01 Josey     Short
10:03 Bill G_1     fyi, my xp is good with firefox.
10:03 M_K     RE: GDX has a HUGE allocation to RGLD
10:03 M_K     which is down 30+%
10:03 M_K     on issues with a large royalthy contract they have
10:04 M_K     so GDX isn’t a real good value
10:04 M_K     look at GDXJ
10:11 Bill G     Friday had stocks, bonds, dollar and gold all up. It would seem at least one of those is wrong?
10:12 Josey     Both
10:12 Josey     both
10:13 M_K     DVA
10:13 M_K     HCA
10:22 M_K     yes
10:22 M_K     CFX
10:24 M_K     Rod you are on the Weekly
10:24 M_K     not the daily
10:24 M_K     !!!
10:24 M_K     rod
10:24 M_K     you are using the weekly chart
10:24 M_K     buy
10:34 M_K     yes
10:34 M_K     they do Dialysis
10:34 M_K     dialisys
10:34 M_K     wow
10:34 M_K     i’m brain
10:34 M_K     my brain
10:34 M_K     i can’t spell
10:34 M_K     or type
10:39 Josey     Thank you!
10:39 M_K     OH
10:39 M_K     NKE
10:39 M_K     sorry
10:39 M_K     NKE
10:39 M_K     and SLB
10:39 M_K     and i’m done
10:43 M_K     grrr
10:43 M_K     ok
10:43 M_K     i’ll bail on it
10:43 M_K     have a good weekend
10:44 Bill G     Have a good one
10:44 David B     thanks

Saturday Review Link

One-hour countdown begins… NOW! Wait… now!… How about now? Be sure to join us at either link below by 9:30am ET for this weekend’s Saturday Review.

We’ll discuss the bigger picture, and then review any stock charts that you request.

New chaRTroom platform
(please report ANY difficulties immediately)