Saturday Review

Friday’s gap up from a multi-session flat-to-higher range was a breakout. Closing (almost) at the opening print suggests Friday’s trending was no different than the multi-session range preceding it. What does that mean for the rally, how might it resolve, and what are the signs of each setup? This week’s Saturday Review addresses those questions, and many great questions posed by attendees.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
WFC, JPM, BAC, GS, MS, NFLX, CSX, MMM, T, IBM UTX, SYMC, BIIB, PEP, TEAM, LVS, ISRG, HON

transcript

—————– (04/13/2019 09:31) —————–
Adam 2: hi
—————– (04/13/2019 09:33) —————–
jp: gm

ljr: gm

David B: Good Morning

Adam 2: gm

Rod David 2: Welcome to Saturday Review, please post questions and comments as they occur to you.

Bill G 2: gm

ljr: wondering if there is a globex gap that needs tested from below

Mark G: gm
—————– (04/13/2019 09:48) —————–
ljr: seems like lots of people think this can’t keep going and things are frothy… also seems timely for all these new ipos at a potential top
—————– (04/13/2019 09:52) —————–
Bill G 2: Fri open still needs to be tested from below?
—————– (04/13/2019 09:58) —————–
Mark G: are we in a sequence of 10 up days with 1 or 2 counter-trends and early next week might be a resolution?

ljr: we’re so close to all time highs… seems like we “should” at least touch them
—————– (04/13/2019 10:03) —————–
ljr: i guess it turned out to fridays open

ljr: the globex gap
—————– (04/13/2019 10:04) —————–
David B: when a top starts to form is usually the dow outperforms.?
—————– (04/13/2019 10:06) —————–
Mark G: looks more like a range even though pointed higher

David B: earnings have been lowered so much it seems like companies beating will continue this market higher?
—————– (04/13/2019 10:10) —————–
Mark G: can 2928 qualify as proxy for 2941?
—————– (04/13/2019 10:17) —————–
Bill G 2: In regards to David’s question on tops: several years ago Jason at Sentimentrader did a study to test the order of major major indexes reaching tops and found no consistency to which index hit top first.
—————– (04/13/2019 10:20) —————–
ljr: any changes to expiry/wedex this week?

ljr: stocks: NFLX,CSX,IBM, UTX (earnings tues)

ljr: stocks: PEP, TEAM, LVS (earning wed)

ljr: stocks: ISRG, HON (earn thurs)

ljr: i have to go, but will watch rest of recording later

ljr: thc

ljr: thx

Mark G: Nxt being a short week would you expect a down turn to happen early enough like by Tue afternoon if it intends to happennext week?
—————– (04/13/2019 10:24) —————–
David B: this week with the market closed on friday and options expiration does the wedex play out on thursday afternoon and monday morning?
—————– (04/13/2019 10:30) —————–
David B: MMM,T
—————– (04/13/2019 10:39) —————–
David B: MMM has not reallly participated in the market rally is that a concern?
—————– (04/13/2019 10:41) —————–
David B: same concern

David B: T

David B: SYMC,BIIB
—————– (04/13/2019 11:04) —————–
Bill G 2: Thanks

David B: Thanks

What was that strong-handed distribution about three weeks ago? Whatever it saw on the horizon has yet to arrive, but the quarterly earnings onslaught begins this week. Will a China trade deal trigger a final high, first? During? Rallying day-to-day to higher highs is camouflaging the net-flat intraday action, which itself reflects the rally’s anxiousness. None of which prevents higher highs.

This week’s Saturday Review describes the original distribution, and recent distributive behavior. Further rally potential and the face of its failure are also described.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
CVGW, BBBY, AMD, BIIB, JPM, WFC, XLNX, WDC, CY

transcript

End ‘o-Quarter portfolio window dressing was probably influential on the quarter’s last day Friday. But gapping up to resistance and only ranging sideways doesn’t reflect momentum, and remains vulnerable to resolving down immediately. None of which precludes extending higher anyway, but probably only to the next resistance and only temporarily before resolving down more substantially.

I describe the path higher, along with specifics for the scenarios described above, in this weekend’s Saturday Review. Great questions from attendees are also addressed.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
WBA, STZ, BIIB, XLNX, VKTX, AAPL, APH, LEN, SQ, LUV

transcript

Rod David: Welcome to Saturday Review. Please post comments and questions as they occur to you.

David B: Good Morning

jp: gm

Bill G: gm
—————– (03/30/2019 09:33) —————–
Mark G: gm
—————– (03/30/2019 10:02) —————–
ljr iPhone: does this type of distribution resemble sept/oct before drop into dec?
—————– (03/30/2019 10:06) —————–
jp: Did Fri. close satisfy o/b rsi’s ?

jp: ty
—————– (03/30/2019 10:11) —————–
David B: how do you think earnings will play into the market? have they been discounted?

ljr iPhone: stocks: WBA, STZ both earnings this week
—————– (03/30/2019 10:13) —————–
Bill G: Blackout period for buybacks may influence for most of Apr?

David B: do you think this distribution is reflecting a sell on the news of possible china deal ?
—————– (03/30/2019 10:17) —————–
David B: the market is closed on good friday so when does options expiration happen?

David B: when does options expire?

David B: ok

David B: BIIB,XLNX
—————– (03/30/2019 10:20) —————–
David B: so does that change the wedex?
—————– (03/30/2019 10:22) —————–
ljr iPhone: VKTX (just watching for long entry), aapl, SQ (more Apple competition now)

David B: APH,LEN
—————– (03/30/2019 10:24) —————–
ljr iPhone: dunno
—————– (03/30/2019 10:34) —————–
ljr iPhone: LUV
—————– (03/30/2019 11:00) —————–
ljr iPhone: Boeing 737 grounded

ljr iPhone: not really positive
—————– (03/30/2019 11:03) —————–
ljr iPhone: thx very much

David B: Thanks

Bill G: thanks