Saturday Review

Recent intraday volatility has not been noise. Recent probes beyond the prior session’s range haven’t been timid, and yet haven’t been immediately maintained. All while the trend ekes out its highest recovery levels, and reversal setups begin forming. A string of intraday opportunities seems to be lurking, with multi-multi-point intraday moves, and multiple intraday reversals.

Something seems to be spooking the game, while heavier and heavier thuds are starting to shake the ground. This week we apply the specific analysis of price action to label the above characterizations and to reach its conclusion. Many of the setups we cover are repeated often in the market, if not always ahead of such potentially wide-ranging windows.

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The following stock requests were reviewed in this order:
MRK, FB, LLY, PLNT, STMP

transcript

—————– (02/23/2019 09:32) —————–
Bill G: gm

Mark G: gm

ljr iPad: gm
—————– (02/23/2019 09:35) —————–
jp: gm
—————– (02/23/2019 10:05) —————–
Mark G: 2815-2820 area could also server as resistance to sling shot down to 2730?

Mark G: serve
—————– (02/23/2019 10:19) —————–
Mark G: MRK

ljr iPad: FB fill gap below?

ljr iPad: LLY

Mark G: Volume is declining
—————– (02/23/2019 10:22) —————–
Mark G: can get to 90?
—————– (02/23/2019 10:24) —————–
ljr iPad: PLNT
—————– (02/23/2019 10:31) —————–
ljr iPad: just looking higher obj
—————– (02/23/2019 10:34) —————–
ljr iPad: STMP – thoughts on it…going lower?
—————– (02/23/2019 10:37) —————–
ljr iPad: plnt might have earnings next week
—————– (02/23/2019 10:41) —————–
ljr iPad: sorry don’t know yet
—————– (02/23/2019 10:43) —————–
Mark G: thx much

ljr iPad: just stmp

Bill G: thanks

ljr iPad: cancelled us post contract
—————– (02/23/2019 10:47) —————–
ljr iPad: actually u think lower lows in future
—————– (02/23/2019 10:50) —————–
ljr iPad: thanks.

Friday’s second consecutive close above 2701.00 was borderline. Not too borderline to immediately question its relevance — which is to confirm the rally’s next higher target at 2756.00 is in-play. But borderline enough to suspect at least a nominal corrective dip testing 2681.00-2682.00 could develop, or even a brief dip to 2666.00 before resuming the rally. Reversing the trend down without testing the rally’s next higher objective would require closing back under 2666.00 and lower, and not very quickly. This weekend’s Saturday Review describes the patterns creating those paths, and outlines possible paths for anticipating Monday’s influences.

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The following stock requests were reviewed in this order:
WDC, AMD, GOOGL, EA, GDX, GLD, SWKS, SFLY, DATA, FEYE, FTNT, IRBT, NEWR, YUM, GRUB

transcript

—————– (02/02/2019 09:34) —————–
ljr: gm

jp: gm

Bill G: gm

Mark G: gm

David B: Good Morning

Rod David: Please post questions and comments as they occur to you
—————– (02/02/2019 09:42) —————–
Mark G: Retracing FOMC reaction within a week is still an option?
—————– (02/02/2019 09:52) —————–
Bill G: What’s the .618 price above the triangle?
—————– (02/02/2019 09:53) —————–
David B: WDC,AMD

David B: GDX,GLD

ljr: GOOGL (earnings mon after close)

ljr: EA, SWKS, SFLY, DATA (earnings tues after close)

ljr: FEYE, FTNT, IRBT, NEWR (earnings wed after close)

ljr: YUM, GRUB (earnings thurs before open)
—————– (02/02/2019 10:25) —————–
ljr: yum all time highs
—————– (02/02/2019 10:27) —————–
Mark G: thx much

ljr: many thanks!

David B: Thanks

Bill G: thx