Bigger Picture

Thursday”s Livestock began with an overview of the recent MJ sector rallies, and their counterparts. Upside examples were CANN MNTR, MINE and ERBB. Their counterparts — i.e. stocks seemingly ignorant of the nearby buying pressure — include ATTBF, AGTK an TRTC.

If the broader market”s decline continues any further, then the MJ leaders will start giving back recent gains. Stocks that haven”t participated, or worse yet are scraping support, could capitulate down sharply. But if the broader market starts to recover, then MJ stocks would STILL be every bit as vulnerable to selling pressures.

Next, we focused on the broader market”s pattern. It”s not pretty. Indexes have dropped to their precipices, where a gentle breeze could blow them off of their cliffs. After discussing FEYE and GWPH, short-entry suggestions were described:

NFLX
319.55 support
328.35 resistance
264.00 target

AAPL
107.30 support
109.35 resistance
88.00 target

AMZN
285.00 support
297.00 resistance
252.00 target

PCLN was discussed, too. At the 38:30 mark we looked at member requests for instant chart analysis. These were addressed in this order:

INSY, Metals, NEM, CDE, IA, CANN, CANV, MNTR, OXIS, Crude Oil, CLF.

As a reminder, I must be away from the screens for today”s last hour.

Enjoy!

Today”s Livestox starts at noon ET. Login info is below.
Note that an issue with the telephone audio has been resolved

(iPads and Tablets use the accompanying teleconference info to get audio.)
Login at 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/

There are a lot of updates in the previous thread on the Activity Feed. Be sure to review it in case you”re looking for information on a stock of interest. We”ll have a Livestox Thursday morning, probably starting at 10:45 ET. Expect specifics after the open. Also, I must be away from the screens during Thursday”s final hour. Please be sure to get in any critical chart analysis requests much sooner rather than later.

False Alarm… sort of — I won”t be leaving the market today until its final hour begins. Sorry, for the confusion, analyses still available.

Heads-Up — I must be away from the screens midday, so chart analysis requests won”t be addressed for awhile… Thanks for your indulgence!