Saturday Review’s recording (for 7/30/16) …
When is a new trend high close not a new trend high close? Friday. At least, this particular Friday. Since a new trend high close would have entrenched the rally, and the opportunity was plentiful, not producing a new trend high close has predictive value, too. Especially since it happened in the pivotal 2168-2169 area. It’s not a sell signal, but it does suggest a couple of likely near-term paths.
We discuss all of that, and more, in this weekend’s Saturday Review.
The following stock requests were reviewed in this order:
MSFT, RTEC, POT, DRI, IONS, XON, AMZN, EQIX, KMI, SBUX, GDX, NUGT, DUST,
07/30/2016 09:29:44 Casjf: gm
07/30/2016 09:31:31 Mark Glezer: gm
07/30/2016 09:58:27 MK: To the moon!
07/30/2016 09:58:29 Casjf: MSFT, RTEC, IONS, XON,KMI
07/30/2016 09:58:44 MK: POT
07/30/2016 10:00:58 MK: DRU
07/30/2016 10:01:01 MK: sorry
07/30/2016 10:01:02 MK: DRI
07/30/2016 10:01:19 MK: AMZN
07/30/2016 10:02:12 MK: EQIX
07/30/2016 10:02:19 MK: SBUX
07/30/2016 10:06:20 MK: PSA
07/30/2016 10:10:48 MK: ok
07/30/2016 10:11:54 MK: DRI is a short
07/30/2016 10:25:22 Mark Glezer: missed the beginning, will watch reconding. Do you expect a break either way from the narrow range to happen early next week ?
07/30/2016 10:27:30 MK: yes
07/30/2016 10:28:33 Mark Glezer: also, is a higher likelihood of breaking lower since there is no momentum to go higher or breaking higher due to pessimism near the high?
07/30/2016 10:29:59 Mark Glezer: k
07/30/2016 10:36:03 MK: random aside but the sentiment index that FXCM releases shows that 89% of their traders are net short SPX
07/30/2016 10:37:47 MK: ok
07/30/2016 10:37:54 MK: i was thinking about gettin short here
07/30/2016 10:43:40 MK: correct
07/30/2016 10:44:19 Josey: Ty
07/30/2016 10:44:21 Mark Glezer: thx much
07/30/2016 10:44:30 Casjf: good weekend all