Saturday Review
Saturday Review Link
Be sure to join us by 9:30am ET for this weekend’s Saturday Review. Yesterday’s Market Wrap touched on several of the market’s current influences. After discussing the bigger picture and gaming out strategies for playing next week’s likelier opening setups, we’ll do instant analysis of any stock charts that you request… See you there!
Saturday Review’s recording (for 12/17/16) …
Next week’s issue of Barron’s was published this morning, and its Up & Down Wall St. column headline nails it: “Everyone’s Optimistic. Is It Time to Worry?” From a contrarian perspective, that’s almost too late to only begin worrying. But the contrarian perspective also applies to Barron’s lead opinion piece. If they think everyone’s optimistic, then maybe it’s actually too early to start worrying.
Meanwhile, the actual chart still has unfinished business above back at Tuesday’s 2273.00 high. It also has room for a correction down to 2215.00 and 2205.00. Trying to reach one before the other may be a function of the impending seasonal bullish — helping a pullback to recover, or greeting next weekend already in decline. Monday’s second-half of the WedEX signal should be heard from, first.
These influences and others are described during this weekend’s Saturday Review..Get caught up on the market’s likely paths and resolutions before the new trading week begins…
Saturday Review Link
Be sure to join us by 9:30am ET for this weekend’s Saturday Review. After discussing the bigger picture and gaming out strategies for playing next week’s likelier opening setups, we’ll do instant analysis of any stock charts that you request… See you there!
Saturday Review’s recording (for 12/10/16) … Entrenched.
This weekend’s Saturday Review described the setups that got the market to its current lofty position, dating back to last month’s election.
One important and obvious question we addressed is “what makes the rally extend any higher?” All upside requirements have been fulfilled up to 2247.25 and 2252.50, including newer requirements that are being satisfied almost as quickly as they’re created. But the trend still finds ways to entrench itself — like Friday’s new trend extreme close. That only helps to ensure that a pullback is recovered, perhaps to probe fresh highs within the room for noise.
But other than room up to 2256.50 or 2270.00, no higher objective is currently in-play. A pullback would allow new targets to be calculated. And a pullback has room down to the rally’s prior objective of 2215.00 or “lower prior highs” around 2205.00 without reversing the rally’s trend.
The following stock requests were reviewed in this order:
AMD, IBB, BIIB, GDX, GDXJ, AAPL, GS, BAC, NFLX, AMZN, PSDV, GWPH, CMG, FB
Saturday Review Link (RESENDING)
Be sure to join us by 9:30am ET for this weekend’s Saturday Review. After discussing the bigger picture and gaming out strategies for playing next week’s likelier opening setups, we’ll do instant analysis of any stock charts that you request… See you there!