Saturday Review

Expressions of optimism have become fewer, and further between. And whether as recoveries from dips, or as breaks to fresh highs, optimism lacks a consistent productivity that is common for a healthy advance. None of which matters much in the near-term when there’s still an occasional super-sized rally — like Wednesday’s — which creates a lot of room for two downtrending sessions to barely retrace 61.8%. The observation may sound more immediately ominous than it yet deserves. But it still warns traders not to rely on runaway longs, and not to shun shorts.

This week’s Saturday Review identifies price levels where the pattern would be vulnerable to peaking, and where another sporadic surge to fresh highs could reach safe haven — temporary as it may be. Along with subscribers’ Q&A, the pattern’s possible shapes and timing are also described in detail for the coming week, which culminates in the delayed monthly Employment Situation report.

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The following stock requests were reviewed in this order:
DKS, MIK, NAV, URBN, BOBE, CIEN, HOV, IGT, SIG, MTN, AAPL

The holiday-shortened week started out on a high note, and then went nowhere — fast. Gapping up and extending higher Tuesday morning quickly established the range’s upper-end by attacking the rally’s 2365.00-2366.00 objective. The balance of the week ranged choppily sideways. Choppily, not noisily, the difference being in its singular legs back-and-forth between opposite ends of the range. Without any recovery closing above the range’s upper-end, but still retracing it, we view buyers as the weak hands. Which means that strong hands are distributing. Ruh-roh.

This week’s Saturday Review explains that relationship in slightly greater detail. At least, with charts. We also compare relative behaviors among the major indexes, and find something not seen for awhile. Something very revealing to the rally’s health. And then several requested stocks (listed below) are analyzed.

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The following stock requests were reviewed in this order:
FCX, X, NUE, IBB, AMD, AVGO, AAPL, GS, BID, JPM, TGT, CRM, BBY

02/25/2017 09:31:54 David B: Good Morning
02/25/2017 09:31:56 Bill G: good
02/25/2017 09:32:30 Mark Glezer: gm
02/25/2017 09:34:13 Mark Glezer: 2500?
02/25/2017 09:43:21 Mark Glezer: what is the likeliest ?
02/25/2017 09:54:35 Bill G: State of the Union may be a good catalyst for some kind of either change in direction or acceleration?
02/25/2017 09:55:02 Bill G: y
02/25/2017 09:57:54 David B: FCX,X
02/25/2017 10:03:37 Bill G: IBB
02/25/2017 10:05:33 David B: with the dow up some many days is this index in an up crash?. is this telling us something about the market when this is happening?
02/25/2017 10:06:36 David B: AMD,AVGO
02/25/2017 10:12:37 Mark Glezer: we had super low VIX for months now, do you see this changing anytime soon consdering the normal few months market cycles that end with a spike in VIX?
02/25/2017 10:17:43 Mark Glezer: just volatility in general
02/25/2017 10:17:53 Mark Glezer: right
02/25/2017 10:25:53 Mark Glezer: thx much
02/25/2017 10:26:09 Bill G: Have a good one
02/25/2017 10:26:27 David B: thanks