Saturday Review

This weekend’s Saturday Review focuses on the two (or three) likely resolutions from Friday’s pattern. Higher highs remain likely, at some point if not immediately. And if not immediately, two specific lower levels would be likely to launch the next rally leg. Their paths and characteristics are detailed. Then the bigger picture is reviewed, including general market behaviors that continue to confirm our ongoing outlook.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
TLRY, CGC, ARNA, GE, MSFT, TSLA

transcript

Did Friday’s plunge derail the rally, a rally that had not progressed in more than two days despite sitting all that time at its highs? We discuss that question in this week’s Saturday Review, among others, including: what would resume the rally, and how much deeper would signal the trend reversing down. Several charting and technical points were explored, as well.

 CLICK HERE TO WATCH

PROGRAMMING NOTE: Saturday Review is off next weekend, Aug 18. Then it’s back on for one week before the Labor Day holiday weekend.

The following stock requests were reviewed in this order:
TSLA, FB, AAPL, AMZN, NFLX, GOOG, SQ, NVDA, MU, IIPR,CGC

Friday’s recovery back up to last week’s high close seems to confirm the interim dip was only a temporary correction. That temporary correction interrupted the prior upleg from rewarding its confirmed breakout with a third higher close. Presumably, the reward is soon to come. The path there and its potential resolutions are detailed in this week’s Saturday Review.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
NFLX, FB, GOOG, AMZN, AAPL, TSLA, SQ, WDC, CRM, ARNA, IIPR

—————– (08/04/2018 09:30) —————–
Rod David: Welcome to Saturday Review. Please post questions and comments as they occur to you.

jp: gm.20 6
—————– (08/04/2018 09:32) —————–
Bill G: gm

David B: Good Morning

Mark: gm

jp: gm
—————– (08/04/2018 09:49) —————–
Mark: how many days can it take to get to 2909 or 2936?
—————– (08/04/2018 09:56) —————–
Mark: SQ – doubletopped under 73 target that was just formed after earnings. Any chance for 79.5 target?
—————– (08/04/2018 10:00) —————–
Bill G: Various times this year I have read of similarities to a 1937 analog. The mkt continues to be very close. In 1937 ,the mkt did not make a new high (82% retrace) The mkt fell apart starting in mid Aug
—————– (08/04/2018 10:03) —————–
David B: WDC,CRM
—————– (08/04/2018 10:16) —————–
Bill G: fwiw, APPL completed a Demark combo sell signal on the daily chart on Fri by my count. Although too early, the same sig will be true on the monthly chart with a positive close at the end of the month, above 190.29.
—————– (08/04/2018 10:19) —————–
Mark: SQ above
—————– (08/04/2018 10:24) —————–
Mark: the Q is if it gets even more exessive b4 a big downleg from 79.5

Mark: just happened

Mark: yes
—————– (08/04/2018 10:30) —————–
David B: closing above what level what indicate a bottom?
—————– (08/04/2018 10:35) —————–
Bill G: I don’t know an answer on gaps in his work. I use the completion of a sell sig by Demarks work as the completion og a setup not the signal for shorting. Need some indication of weekness as a trigger.

Mark: thx much
—————– (08/04/2018 10:39) —————–
Bill G: thanks

David B: Thanks