S&P
So, did everyone run into
So, did everyone run into anyone this weekend NOT bottom-fishing last week”s drop? I certainly hope they”re right, although I suspect not, yet. It”s much too soon for that verdict. Meanwhile, use one of these links to monitor tonight”s Globex action in the chaRTroom, which opens at 6pm ET::
Win XP-Friendly — http://anymeeting.com/391-215-638
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/bfyytsh
Saturday Review’s recording (for 8/29/15) … Bounces vs. bottoms.
This weekend”s Saturday Review described the recent plunge and its current bottoming attempt, elaborating on why it”s only a bottoming attempt and not a durable bottom. The likeliest paths Sunday night and Monday morning were described, with ideas for playing them. The discussion included a perspective on rationalizing / justifying a trade, and the necessity of abandoning a trade…
The following stocks were discussed, including a brief discussion of the difference between price momentum (as expressed by MACD) and buying/selling strength (which is depicted by RSI). The chat transcript follows:
SVXY, FCX, S, OGZPY, PAAS, SIG, SNH, NGD, DPZ, TPX, PII, INTC, BOFI
08/29/2015 09:31:56 David B: good morning
08/29/2015 09:32:13 joep: gm
08/29/2015 09:32:18 Charles Daniel: hi0
08/29/2015 09:32:24 Mark Glezer: gm
08/29/2015 09:46:07 Mark Glezer: would u expect a move down to happen in
a single intraday leg?
08/29/2015 10:11:14 lloyd: any timing for testing low or breaking it?
I”m just checking I”m to ask question. If already answered ignore. i wi
08/29/2015 10:12:12 lloyd: I will listen to recording. have to go Thx
08/29/2015 10:19:21 Miss Kitty: What are some lower targets along the
way?
08/29/2015 10:27:55 steve: can you look at SVXY?
08/29/2015 10:31:39 David B: FCX,S
08/29/2015 10:34:31 MK: OGZPY
08/29/2015 10:35:15 MK: PAAS
08/29/2015 10:35:50 MK: SIG (Short)
08/29/2015 10:36:07 MK: SNH
08/29/2015 10:36:22 MK: NGD
08/29/2015 10:36:38 MK: DPZ (Short)
08/29/2015 10:37:44 MK: TPX (short)
08/29/2015 10:38:16 MK: PII (SHORT)
08/29/2015 10:38:34 MK: INTC (SHORT)
08/29/2015 10:39:03 MK: BOFI (SHORT)
08/29/2015 10:39:19 MK: sorry but i have to take care of something so
i”ll watch the stocks on the recording
08/29/2015 10:55:10 MK: ok
08/29/2015 10:55:12 MK: thats fine
08/29/2015 11:06:07 Josey: Thank you Rod! part of todays discussion was
me. I am always learning from your teaching
08/29/2015 11:06:16 joep: same to you
08/29/2015 11:07:03 Charles Daniel: tks!
REMINDER: Join us for the
REMINDER: Join us for the Saturday Review at 9:30am ET for a bigger picture review, gaming out strategy for Sunday night and Monday morning, and for instant analysis of any stock chart you request… Use either link below:
Win XP-Friendly — http://anymeeting.com/558-272-560
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/shkphyy
Morning bias
| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1993.25 | 1990.00 |
| …would target | 1999.25 | 1996.00 |
| Bias-down: under | 1973.25 | 1970.00 |
| …would target | 1966.50 | 1963.25 |
| Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be “no-bias,” and the bias signals should define the bias environment”s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
— “Late” signals don”t require testing the opposite bias signal, but it”s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
If traction gained by Thursday
If traction gained by Thursday afternoon”s sellers did influence Friday, then it went only so far as to restrain price action. Thursday afternoon”s complete retracement of its 42-point plunge didn”t advance any higher as Friday was essentially spent exclusively in negative territory. There was one momentary probe above 1986 in the morning, and then after the cash session close. The hesitation cut both ways, not exploiting an opportunity to plunge into the 1970”s to under 1940 Oh, well, there”s always next week.
Details and other markets coverage were discussed during the post-market Wrap recorded here:
https://roddavid10.mitel-nhwc.com/join/tyfpvhp
Join us for the Saturday Review at 9:30am ET for a bigger picture review, gaming out strategy for Sunday night and Monday morning, and for instant analysis of any stock chart you request.
Win XP-Friendly — http://anymeeting.com/558-272-560
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/shkphyy