Saturday Review
Saturday Review Link
Friday afternoon’s slide fulfilled the likelier bearish scenario by only probing temporarily into the prior Friday’s range. A plunge to new lows was the less likely bearish scenario, and it can’t be ruled out for Monday. What had been the less likely bearish scenario is now the likelier bearish scenario, and the likelier scenario overall if Monday’s open isn’t rallying.
Be sure to join us by 9:30am ET for this weekend’s Saturday Review. Specific levels and behaviors Sunday night and Monday morning will help to anticipate which path the market is following. 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 5/7/16) … Opportunity’s knocking, gently.
Friday’s pre-open and post-open lows tested and held the ongoing decline’s next lower objectives. Reacting back up into the close stopped short of signaling the decline’s momentum had ended, let alone that momentum is reversing up. Monday’s open could still do that by proxy. And if it doesn’t…
We discussed relevant levels for either outcome during this weekend’s Saturday Review.
The following stock requests were reviewed in this order:
CACO, TSLA, ULTA, GROW, GOOGL, NUGT, SWFT, URI, CRUS, AXP, PODD
05/07/2016 09:31:17 David B: Good Morning
05/07/2016 09:53:32 sm: slope cut in half?
05/07/2016 09:53:36 MK: ULTA
05/07/2016 09:53:49 sm: o
05/07/2016 09:53:50 sm: k
05/07/2016 09:53:59 MK: GROW
05/07/2016 09:54:06 MK: SWFT
05/07/2016 09:54:11 MK: URI
05/07/2016 09:54:13 MK: CRUS
05/07/2016 09:54:22 tom: GOOGL,NUGT
05/07/2016 09:55:13 MK: yes
05/07/2016 10:01:25 MK: AXP
05/07/2016 10:14:25 MK: wow should have bought NUGT rather than my actual stocks
05/07/2016 10:17:51 tom: ok thx
05/07/2016 10:26:20 MK: that good enough for a top?
05/07/2016 10:28:49 MK: ok thanks
05/07/2016 10:29:29 MK: OK
05/07/2016 10:29:30 MK: sounds good
05/07/2016 10:29:33 MK: have a good weekend
05/07/2016 10:29:47 MK: oops
05/07/2016 10:29:47 MK: yes
05/07/2016 10:29:49 MK: AXP
05/07/2016 10:29:50 MK: thanks
05/07/2016 10:29:55 MK: i’m short
05/07/2016 10:30:03 MK: ok
05/07/2016 10:30:41 Josey: PODD
05/07/2016 10:30:50 MK: thanks again
05/07/2016 10:31:18 MK: oh i have anohter
05/07/2016 10:31:20 MK: SRCL
05/07/2016 10:32:10 MK: JOSEY is that a long or a short?
05/07/2016 10:34:53 Josey: yes
05/07/2016 10:35:06 Josey: Long MK
05/07/2016 10:35:15 MK: have a good one
Saturday Review Link
Did the ongoing decline just end Friday? Its 2035.00 and 2030.00 objectives were neutralized, and the afternoon rallied well into positive territory. What action would tell us Monday morning or even Sunday night that a new upleg is underway? What are the consequences otherwise?
Be sure to join us by 9:30am ET for those answers and more at 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 4/30/16) …
Last week’s decline was really Thursday afternoon’s and Friday morning’s decline. The week previously had been all about either recovering from dips or testing resistance. Although relevant support — if not also critical — held Friday’s thorough testing, no recovery is yet signaled… So, what would qualify as that signal Monday morning, or even Sunday night? What is the alternative, and how far can either scenario extend? These and other questions are answered in this weekend’s Saturday Review, linked below.
The following stock requests were reviewed in this order:
FCX, JOY, ERII, ALB, CB, GROW, POT, CACC, HOG, SBUX, CLF, ULTA, CHK, AAPL
04/30/2016 09:13:46 sm: I asked this previously, but feel like I need to ask again – Can the 2110 target be adequately satisfied with the test of the 2105 level? Is that close enough for the market to legitimately be in the process of resuming the decline?
04/30/2016 09:31:49 David B: Good Morning
04/30/2016 09:31:50 sm: good
04/30/2016 09:52:25 David B: could the low on friday be a warning shot across the bow?
04/30/2016 09:53:08 David B: as anything this week been distributive?
04/30/2016 09:54:36 Josey: I have never seen a W pattern on a intr day, but when I have on a longer term it launched a rally. Is it bullish short term?
04/30/2016 10:00:35 Mark Glezer: Has NDX been a leading indicator in this multi-session decline and ES maybe just joining in & trying to catch up?
04/30/2016 10:04:21 sm: Not testing 2110 would seem to be analaous to an intraday target that doesn’t get tested and probed because of weak-handed sentiment that prevents it. Contrarian view suggests that leaving that level will eventually attract price back to that level
04/30/2016 10:06:06 David B: yes that answers th question
04/30/2016 10:06:11 David B: the
04/30/2016 10:06:50 Josey: yes
04/30/2016 10:11:24 Mark Glezer: yes
04/30/2016 10:18:05 David B: FCX,JOY
04/30/2016 10:19:46 MK: wow
04/30/2016 10:19:56 MK: FCX totally fell off my radar
04/30/2016 10:21:46 MK: ALB
04/30/2016 10:21:48 MK: CB
04/30/2016 10:21:52 MK: GROW
04/30/2016 10:21:58 MK: POT
04/30/2016 10:22:03 MK: CACC
04/30/2016 10:22:05 MK: HOG
04/30/2016 10:22:07 MK: SBUX
04/30/2016 10:22:12 MK: ULTA
04/30/2016 10:29:58 MK: ALB has a big interest in Lithium
04/30/2016 10:30:02 MK: as in Batteries
04/30/2016 10:30:36 MK: ok i’ll pare off
04/30/2016 10:30:40 MK: no need to do more work
04/30/2016 10:30:42 MK: i get the gist
04/30/2016 10:34:13 MK: its a long
04/30/2016 10:34:36 MK: yeah i’m in from 112
04/30/2016 10:34:39 MK: so no thanks
04/30/2016 10:34:42 MK: i’ll take my profit
04/30/2016 10:41:23 MK: yeah i sold high 50s
04/30/2016 10:41:33 MK: covered a bunch friday morning
04/30/2016 10:41:50 MK: ok
04/30/2016 10:42:00 MK: will press on monday
04/30/2016 10:42:01 David B: CLF
04/30/2016 10:42:03 MK: if we are weak
04/30/2016 10:42:15 MK: I got DESTROYED
04/30/2016 10:42:18 MK: by starbucks
04/30/2016 10:42:37 MK: was sized wayyyy too big
04/30/2016 10:42:39 MK: in the high 50s
04/30/2016 10:42:52 MK: and that move above stopped me out of 50% of my position
04/30/2016 10:42:59 MK: i’m BEARISH
04/30/2016 10:43:21 MK: ok
04/30/2016 10:43:23 MK: sweet
04/30/2016 10:43:30 Josey: szym, xone
04/30/2016 10:44:48 David B: CHK
04/30/2016 10:45:55 MK: trying to leg into this short
04/30/2016 10:45:58 MK: on ulta
04/30/2016 10:46:05 MK: i’m short at 205
04/30/2016 10:46:08 MK: i know
04/30/2016 10:46:09 MK: you hate it
04/30/2016 10:51:22 MK: If you look at the S&P aand AAPL correlation
04/30/2016 10:51:32 MK: it has massively diverged in Q1
04/30/2016 10:51:36 MK: and will continue to do so
04/30/2016 10:52:37 David B: thanks
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!