Saturday Review’s recording (for 3/4/17) … Fewer and further.
Expressions of optimism have become fewer, and further between. And whether as recoveries from dips, or as breaks to fresh highs, optimism lacks a consistent productivity that is common for a healthy advance. None of which matters much in the near-term when there’s still an occasional super-sized rally — like Wednesday’s — which creates a lot of room for two downtrending sessions to barely retrace 61.8%. The observation may sound more immediately ominous than it yet deserves. But it still warns traders not to rely on runaway longs, and not to shun shorts.
This week’s Saturday Review identifies price levels where the pattern would be vulnerable to peaking, and where another sporadic surge to fresh highs could reach safe haven — temporary as it may be. Along with subscribers’ Q&A, the pattern’s possible shapes and timing are also described in detail for the coming week, which culminates in the delayed monthly Employment Situation report.
The following stock requests were reviewed in this order:
DKS, MIK, NAV, URBN, BOBE, CIEN, HOV, IGT, SIG, MTN, AAPL