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Following are my comments so – If, Then… Market Timing

Following are my comments so

By Rod David | September 11, 2014 - 2:22 pm

Following are my comments so far from today”s Activity Feed. Keep posting requests as needed. And don”t forget to join us at (new time) 4:45 PM ET (new time) for today”s Livedesk Unlimited.

STEV — Attacked my .12 target up to .119 last Thursday, and has been in decline since then. It”s just a temporary correction so long as .081 holds as support, which the decline is now attacking. Back above .098 would signal another attack underway on .12.

GPRO — Testing big resistance at 67.45, while entering day-10 of my 10-11 day up/down-crash setup. That pattern identifies when sponsorship like this leg”s buyers have stretched the rubber band so far that either it snaps back down sharply, or else breaks as newer more energetic buyers arrive to suddenly steepen the rally”s slope… Request this during today”s Livedesk and I can review the setup.

TRTC — NEW LOWS ARE NOT A BUY SIGNAL. Not even for a “Falling Knife” setup, not on the first day of aggressive trending.

ATTBF — NEW LOWS ARE NOT A BUY SIGNAL. Not even for a “Falling Knife” setup, not on the first day of aggressive trending.

TKMR — Very impressive volume on this morning”s bounce.

MINE — Very impressive volume on this morning”s bounce, which is clearly a reaction to favorable news that has impacted an extended oversold trend. Closing above .0073 would suggest a bigger corrective bounce underway, perhaps to .01. Closing today under .0073 would all but ensure resuming the decline to fresh lows.

BTCS — Testing significant resistance at .1075. Just failing to close above it would at least suggest dipping back to .0825. But the bounce from last week”s new low doesn”t fail entirely without also closing under .0720. Meanwhile. Closing today above .10 would allow a second consecutive higher close tomorrow to signal a bigger rally underway, next targeting .155.

GTAT — Gapping up tomorrow above 15 would at least form an Island of today and yesterday”s ranging, and be compelling for extending to fresh highs targeting 21. Otherwise, this current downleg is targeting 10.75-11.00

ATTBF — Hesitated somewhat upon testing .33 but ultimately extended through it to attack its next objective at .30 down to .313. Again, today is the first day of accelerated selling pressure, which is producing new trend lows, so it will not contain a buy signal.

GPRO — Noted earlier that my up/down-crash had reached day-10 of its 10-11 day count for stretching the rubber band to its extreme. The open”s gap up to a new trend high was reversed immediately back down into negative territory, a $4 swing. A lot of energy since then is being expended just to range narrowly above yesterday”s high. A fresh high by more than a 50-cent margin could break the stretched rubber band to extend the rally at much steeper slope. But back under 66-66.25 would snap the stretched rubber band back down, targeting the 56 area initially.

DATA — Testing 74.60 resistance today. Not closing above it would be likely to correct down to 69.85, which must hold to resume the rally targeting 82.40 and potentially 94.80.

Posted in Bigger Picture