Saturday Review

The holiday-shortened week was greeted by significant selling. But there was no follow-through, only an immediate retracement. The week ended by attacking the prior week’s highs, seemingly on the verge of rejecting the earlier drop. But isn’t this where that last drop originated? We discuss the new price action’s effect on the likely paths back down, and the potential for extending the rally.

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The following stock requests were reviewed in this order:
AMD, PANW, GE, FB, AAPL, AMZN, NFLX, GOOGL, TSLA, UA, ARNA, GWPH, IIPR

transcript

—————– (06/02/2018 07:20) —————–
Rod David: Welcome to Saturday Review. Please post questions and comments as they occur to you.
—————– (06/02/2018 09:33) —————–
Bill G: gm

David B: Good Morning

jp: gm

Mark: gm
—————– (06/02/2018 09:43) —————–
Mark: do u think a probe higher with rejection would be more bearish if done intraday than overnight due to higher volume and a different crowd?
—————– (06/02/2018 09:46) —————–
ljr ipad: fresh high or new all time high?
—————– (06/02/2018 09:53) —————–
Mark: if NQ shows speculative behavior why the resumption of the decline in ES is likelier – is that because a short term outperformance?
—————– (06/02/2018 09:56) —————–
Bill G: Would an impusive rally directly to 2800ish be more likely to fail then a gradual, stairstep rally?

Bill G: impulsive
—————– (06/02/2018 10:00) —————–
David B: are ES lows back in feb for now off the table and a new pattern would need to develope to put these back on the table?
—————– (06/02/2018 10:08) —————–
Bill G: Starting from the early Apr low, the mkt appears to be in an uptrend that needs a failure?

Bill G: lower low

Bill G: to relative
—————– (06/02/2018 10:15) —————–
David B: AMD
—————– (06/02/2018 10:17) —————–
ljr ipad: PANW

ljr ipad: earnings this week
—————– (06/02/2018 10:21) —————–
David B: GE Have we seen a near term bottom . what would be a close below a concern of test of those lows and possibly lower?

Bill G: It seems like the mkt is being led by the FANG stocks and will need to roll over before a top can be expected?
—————– (06/02/2018 10:23) —————–
David B: UA – Same as GE
—————– (06/02/2018 10:50) —————–
Bill G: Thanks

David B: Thanks

Did last week;’s rally accomplish anything more than to retrace the prior week’s decline? Friday’s fresh recovery high close doesn’t answer that, not decisively, so not definitively. Upside follow-through on Monday would be bullish, putting into play several new upside attractions. Reacting down would not immediately dictate the trend reversing down — although plunging immediately in reaction to external news would be likelier to recover, than would a more arduous organic drop. The paths and their inputs are discussed in detail during this week’s Saturday Review. Also, scroll down for links to tactical execution videos that will be available soon in a reference library.

 CLICK HERE TO WATCH

TACTICAL VIDEOS:
Fading a signal || Reaction limit examples || Noon hour head-fake || Headline reaction fade || Fade gap open || Friday false break ||

The following stock requests were reviewed in this order:
HD, AMAT, GWPH, ARNA, IIPR