Saturday Review

New highs printed last week, in what became a failed breakout. A detour down was recovered into the weekend, but only recovered — not exceeded. All within a target area that is the rally’s highest calculable objective for this leg.

This week’s FOMC policy statement could hardly be greeted by a more interesting environment. We discuss the relevant levels and likely paths in this week’s Saturday Review.

 CLICK HERE NOW TO WATCH

The following stock requests were reviewed in this order:
UA,CSCO, FB GOOGL, AMZN, GDX

07/23/2016 09:29:14 David B: good morning
07/23/2016 09:31:53 Mark Glezer: gm
07/23/2016 09:56:37 Mark Glezer: there is no requirement for a new high close?
07/23/2016 09:57:43 Mark Glezer: yes
07/23/2016 09:59:00 David B: don’t we need to see distribution before we start to see a change in the trend?
07/23/2016 10:04:54 David B: i think you mentioned last week this rally has not been the strongest of stronger hands. what would tell us stronger stronger hands were behind the rally?
07/23/2016 10:05:16 Mark Glezer: pivot reversal potential on a gap down or a key reversal on a gap up, pivot would be more bearish here?
07/23/2016 10:09:48 David B: still not a bull market?
07/23/2016 10:10:15 David B: with two consective closes
07/23/2016 10:17:02 Mark Glezer: pivot behavior would still be more bearish here?
07/23/2016 10:17:36 David B: UA,CSCO
07/23/2016 10:19:24 David B: FB,GOOGL
07/23/2016 10:20:37 David B: UA earnings on tues
07/23/2016 10:32:56 David B: are FB and google showing optimism ahead of earnings this week?
07/23/2016 10:34:31 David B: wed
07/23/2016 10:34:41 David B: google on thursday
07/23/2016 10:36:19 David B: that could drive the market higher to 2225?
07/23/2016 10:37:19 David B: amzn this week also
07/23/2016 10:39:18 Josey: Ty
07/23/2016 10:39:21 David B: thanks

Did Turkey’s failed coup attempt affect the bigger picture, let alone the  bullish WedEX that seemed influential Friday afternoon? What are the week’s likely scenarios and paths? We address these and other questions during this week’s Saturday Review, while reviewing the many technical and chart setups that repeat often in the market.

 CLICK HERE NOW TO WATCH

The following stock requests were reviewed in this order:
GDX, GDXJ, AMZN, VZ, PM, RAI, HLF, STZ, VRX, X, FCX, RARE

07/16/2016 09:30:13 G: good morning
07/16/2016 09:30:59 David B: good morning
07/16/2016 09:58:35 David B: do you think earnings have already been discounted in the market?
07/16/2016 10:02:16 David B: so this rally has been anticipation of these earnings?
07/16/2016 10:02:38 Mark Glezer: FOMC is not until the following week, has to be another even that triggers a big move if it happens ?
07/16/2016 10:02:47 Mark Glezer: event
07/16/2016 10:03:53 David B: what will tell us that distribution is starting. what it be a certain closing level?
07/16/2016 10:05:33 David B: will it be a certain closing level
07/16/2016 10:07:59 David B: is there a level closed above that would confirm a bull market?
07/16/2016 10:09:05 David B: not strong hands driving this?
07/16/2016 10:09:14 David B: ok
07/16/2016 10:13:08 David B: AMZN,VZ
07/16/2016 10:13:14 Josey: PM, RAI
07/16/2016 10:15:15 ljr: HLF STZ short
07/16/2016 10:15:59 ljr: RARE long plz
07/16/2016 10:16:08 ljr: I’ll watch recording
07/16/2016 10:21:27 Mark Glezer: VRX – a lot of talks about it going to zero
07/16/2016 10:26:22 Josey: Yes
07/16/2016 10:26:41 William: Sterling : need to print a new low before rebounding more strongly ?
07/16/2016 10:28:58 David B: X,FCX
07/16/2016 10:45:00 Mark Glezer: thx much
07/16/2016 11:02:32 William: perfect as always, thanks
07/16/2016 11:02:36 Josey: Thank you!
07/16/2016 11:02:47 David B: thanks

Friday’s new high close is a double-edged sword. Fulfilling the outstanding objective at 2125.25 satisfies the buying pressure that created it. Not closing above it has failed to put into play any higher targets. But its reaction down came too late and was too shallow to reflect counter-trend sponsorship exploiting it. And reacting down on Mondays is usually only temporary when begun from a new trend high close on Fridays.

Did I say “double-edged” sword? Make that quintuple-edged.

It’s not so much about conflicting signals, as it is about no new signals. But the absence of a signal is often a signal, itself. At least, it starts limiting the likely templates going forward. And we discuss those possible paths during this weekend’s Saturday Review.

 WATCH THE RECORDING HERE

The following stock requests were reviewed in this order:
TWTR, MQTRF, TWMJF, AMZN, SODA, BAC, GOOG, WYNN, BIDU, NFLX

07/09/2016 09:23:48 Mark Glezer: gm
07/09/2016 09:23:52 David B: Good Morning
07/09/2016 09:47:17 Mark Glezer: why a decline that is faster than a prior move up requires a retracement to its origin?
07/09/2016 10:07:27 Mark Glezer: k
07/09/2016 10:18:29 Josey: MT:ca, CGC:ca Canadian tickers that I don’t think you can do, the US convenience tickers are MQTRF and TWMJF.
07/09/2016 10:18:47 ljr mobile: stocks: can you look at: AMZN, SODA, GOOG. (longs)
07/09/2016 10:21:25 Josey: Volume is in the Canadian tickers
07/09/2016 10:24:00 Josey: Yes
07/09/2016 10:24:53 ljr mobile: Wynn, Bidu (short), nflx, – only if u have time for these 3. thx
07/09/2016 10:33:42 Mark Glezer: BAC
07/09/2016 10:51:42 ljr mobile: thx for today!
07/09/2016 10:51:43 Mark Glezer: thx
07/09/2016 10:51:55 Josey: Ty