Saturday Review
Saturday Review’s recording (for 10/1/16) …
I’m very sorry to report that technical issues with Anymeeting impaired this weekend’s Review. We threw in the towel after a half-hour, tried a couple more times, and then ran out of towels. The recording captured the better part of the bigger picture discussion, and a couple of questions.
Reminder: No Saturday Review this weekend.
If you’re planning to attend this weekend’s Saturday Review, then it may interest you to know that it is cancelled. If you’re showing up anyway, pack a sandwich. And enjoy this re-run of Friday’s post-market Wrap, which was expanded to include a big picture review.
Post-market Wrap (recording & summary)
This weekend’s Saturday Review has been cancelled, so Friday’s post-market Wrap was extended to discuss the bigger picture and stock requests. Its recording is not the usual Saturday format, but the usual weekday format..
The week ended with one piece of “unfinished business above” at 2175.50. That’s 3 points above Thursday’s high. Being in the context of unfinished business above, Friday’s slide is assumed to be a temporary detour. But that’s the assumption anyway, since shallow trending or ranging on Fridays can be the week’s least predictive price action.
That’s not to say nothing relevant was accomplished Friday. Its low filled the gap back down to Wednesday’s close, and held it. Already trending up Sunday night to some degree, and gapping up Monday, is somewhat likelier at this stage — assuming no dramatic weekend developments that would require being absorbed.
Otherwise, any lower intraday Friday would have targeted at least 2149.00. That could still hold if tested Sunday night, but the delay makes any selling likelier to test “lower prior highs” down to 2143.50. And there’s room below it to 2138.00 before suggesting that 2175.50 won’t be tested soon.
The following stock requests were reviewed in this order:
GDXJ, ERII, POT, JJG, AERO, KSHB, CMG
Saturday Review’s recording (for 9/17/16) …
Last week’s marathon session probably scared away a lot of participation this week. Meanwhile, this week’s presentation was relatively brief, as there was no change to the bigger picture. It remains distributive, and the week’s back-and-forth revealed only a few attractions the market might visit before resolving. But the bigger picture’s likely resolution remains down. So, there weren’t many questions or stock requests, and the otherwise brief overview serves as a refresher of how the market got to this stage, and its possible paths going forward.
The following stock requests were reviewed in this order:
BAC, GDXJ, AAPL
09/17/2016 09:31:07 Mark Glezer: gm
09/17/2016 09:41:29 Mark Glezer: could be another substantial bounce from lower prior highs?
09/17/2016 09:54:49 Mark Glezer: yes
09/17/2016 10:00:26 Mark Glezer: so NDX is still leading ES whether it’s up or down?
09/17/2016 10:03:33 Bill G: So much of ndx can just be appl
09/17/2016 10:05:18 Mark Glezer: if u were to project a bigger move for the week ahead – do u think it’s likely to happen Wed or Fri?
09/17/2016 10:05:54 Mark Glezer: choice maybe
09/17/2016 10:07:13 Mark Glezer: yep
09/17/2016 10:07:18 Mark Glezer: BAC
09/17/2016 10:09:12 Mark Glezer: AAPL
09/17/2016 10:14:52 Mark Glezer: thx much
09/17/2016 10:15:45 Bill G: thx
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!