Saturday Review

Wednesday’s low held a test of the decline’s next lower objective under 2764.00 at 2685.00-2686.00 (to within 1 tick). Thursday’s brief lower low held its retest, and also filled the gap outstanding from the two-week old low session, and then reversed up to close higher. Friday almost confirmed the trend has reversed up — which it may be.

We’ll know more on Monday, after the morning’s exposure to a bearish WedEX influence. Regardless, the next significant direction is about to begin. This week’s Saturday Review discusses the relevant prices and behaviors to either template, and also how the paths might navigate the Thanksgiving holiday’s seasonal bullishness.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
FB, AMZN, AAPL, NFLX, GOOG(L), ADBE, V, NVDA, WMT, KO, FCX, UA, SYMC

transcript

(11/17/2018 09:30)
Adam: Hi
(11/17/2018 09:31)
Rod David: Welcome to Saturday Review. Please post questions and comments as they occur to you.

jp: gm

Mark G: gm

David B: Good Morning

Bill G: gm
(11/17/2018 09:52)
Mark G: inverse H&S at Thu low?
(11/17/2018 09:58)
Mark G: right
(11/17/2018 10:07)
Mark G: bearish extension down to 2654/35 by Tue will likely recover still in liu of the seasonal bullishness?

David B: ADBE,V
(11/17/2018 10:11)
Mark G: AAPL down Mon should help ES on a downside if it happens
(11/17/2018 10:13)
Mark G: *if*
(11/17/2018 10:23)
Mark G: NVDA – liklihood of 130?
(11/17/2018 10:26)
David B: WMT,KO
(11/17/2018 10:27)
Mark G: bounce potential ?
(11/17/2018 10:31)
Mark G: thx much
(11/17/2018 10:33)
David B: is FCX,UA,or SYMC possible jan candidates?
(11/17/2018 10:40)
Mark G: UGAZ
(11/17/2018 10:42)
Mark G: correlating that to natural gaas – still looking for a retest on that?

Bill G: Lot of talk that the recent move of CL and Nat Gas just the reversal of a pair trade?

David B: Does a false wed ex bearish or bullish that does not occurr on fri afternoon and mon morning tells us the next direction of the market?
(11/17/2018 10:47)
Mark G: thx

David B: Thanks

Bill G: thanks

Two consecutive sessions of trending tends to deplete sponsorship. Or, else. The week ended with two sessions spent exclusively in negative territory. Part of the third consecutive session — Monday — can reflect stragglers, but the day should end in rally mode.

That’s the likeliest template to start the week. It may also be the template that ends the two-week old rally, because retesting last week’s could resume the larger decline. Not recovering from early weakness Monday, especially if deep enough, could already resume the larger decline.

We discuss those paths and their specific prices, along with another path higher, during this week’s Saturday Review. A useful Fibonacci tip is also shared for identifying natural support found within gaps.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
GE, HD, WIX, CRM, ORCL, AAP, NTES, ACB, CGC,

transcript

—————– (11/10/2018 09:30) —————–
Rod David: Welcome to Saturday Review. Please post questions and comments as they occur to you,

jp: gm
—————– (11/10/2018 09:32) —————–
Bill G: gm

Mark G: gm

Adam: gm. Can we look at a giant potential Inverse H&s from oct through today

David B: Good Morning
—————– (11/10/2018 09:57) —————–
Mark G: how a seasonal bullishness we are entering play with a decline’s potential – a lot of talks about finishing the year on a high note?
—————– (11/10/2018 09:58) —————–
Mark G: or maybe decline on a bigger pic does not resume until Jan?
—————– (11/10/2018 10:06) —————–
Mark G: flat open Mon is unliklely?
—————– (11/10/2018 10:07) —————–
David B: I think you mentioned 2712 was an ealier pattern for lower lows. What number closing would tell us we are heading to test the recent lows?

David B: earlier
—————– (11/10/2018 10:09) —————–
Mark G: yeah

David B: option expiration week
—————– (11/10/2018 10:11) —————–
Mark G: so the next two weeks would be optimal to get smth done on a downside?
—————– (11/10/2018 10:15) —————–
David B: if see the dow outperforming than this would be less likely for a bear market?
—————– (11/10/2018 10:16) —————–
David B: does it matter which index performs?

David B: will this be a factor?
—————– (11/10/2018 10:19) —————–
ljr iPad: stocks: HD, WIX, AAP, NTES, all earnings this week. I will watch recording. Thanks
—————– (11/10/2018 10:20) —————–
David B: CRM,ORCL
—————– (11/10/2018 10:51) —————–
Mark G: thx much

Bill G: Thanks

David B: Thanks

On net, last week’s gain wasn’t substantial. But it a weekly gain had become rare, so there’s that. And Fridays close — even being well under its pre-open high — was much, much higher than Monday’s trend low. So, there’s that.

Whatever that is, it hasn’t accomplished enough to qualify as reversing the trend up. Perhaps it is a “warning shot across the bow” at bears that the turn is coming, or at least that it is forming. Or, likelier, perhaps it is only a correction, expending a maximum amount of buying pressure and refueling buyers without reversing the trend up.

This week’s Saturday Review describes each resolution, and their likely paths, while applying the rule sets of my methodology, which can be applied consistently across all liquid markets.

 CLICK HERE TO WATCH

The following stock requests were reviewed in this order:
AAPL, BKNG, DATA, WDC, UA, NEWR, DIS, SYMC, SQ, WYNN, QCOM, TTWO, GE

transcript

Mark G: gm

David B: Good Morning

Rod David: Welcome to Saturday Review. Please post comments and questions as they occur to you.
—————– (11/03/2018 09:39) —————–
Mark G: Sat Review section that usually has link didn’t have today – just a recording from last Sat

Mark G: yes

Mark G: k
—————– (11/03/2018 10:06) —————–
Mark G: simply extending higher can leave the Q if the bottom is in still open
—————– (11/03/2018 10:08) —————–
Bill G: Will a rally from between the current price and 2683 still be considerered a corrective rally even if the rally extends above 2800.?

Mark G: can this H&S break falsely higher to retest its head & then reverse down?
—————– (11/03/2018 10:19) —————–
ljr iPad: stocks (all earnings this week). Looking for positions of strength/weakness to play the earnings event. Thx

ljr iPad: monday: BKNG

ljr iPad: tues: DATA, NEWR, DIS

ljr iPad: wed: SQ, WYNN, QCOMM

ljr iPad: thurs: TTWO

Bill G: Bigger picture it6 wstill could?
—————– (11/03/2018 10:22) —————–
Bill G: 2806 would still be short of a trend change longer term?
—————– (11/03/2018 10:29) —————–
David B: WDC – Does it look like this has completed a bottom?

David B: UA,SYMC
—————– (11/03/2018 10:36) —————–
David B: what level f pull back would be a concern?

David B: levl of a pull back

David B: yes
—————– (11/03/2018 10:48) —————–
David B: is symc a jan candidate?
—————– (11/03/2018 10:52) —————–
David B: what closing level for GE would indicate the selling is done?
—————– (11/03/2018 10:54) —————–
Mark G: RSI diverged positively in SQ on a retest but perhaps it already perfomred on this
—————– (11/03/2018 10:57) —————–
Bill G: Sorry another mkt question—The mkt has corrected about .382 of the distance from Mon low and Fri high. Would a rally from here be considered weaker then if the pullback extended closer to .618 before rallying? I’m thinking the mkt may be about to start the second leg of a corrective rally before starting at least another test of the low.
—————– (11/03/2018 11:09) —————–
ljr iPad: thanks for review and stocks. I’ll watch recording.
—————– (11/03/2018 11:14) —————–
Bill G: ok,thanks. Have a good one.

Mark G: thx much