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.
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)
