Saturday Review’s recording (for 7/9/16) …
Friday’s new high close is a double-edged sword. Fulfilling the outstanding objective at 2125.25 satisfies the buying pressure that created it. Not closing above it has failed to put into play any higher targets. But its reaction down came too late and was too shallow to reflect counter-trend sponsorship exploiting it. And reacting down on Mondays is usually only temporary when begun from a new trend high close on Fridays.
Did I say “double-edged” sword? Make that quintuple-edged.
It’s not so much about conflicting signals, as it is about no new signals. But the absence of a signal is often a signal, itself. At least, it starts limiting the likely templates going forward. And we discuss those possible paths during this weekend’s Saturday Review.
The following stock requests were reviewed in this order:
TWTR, MQTRF, TWMJF, AMZN, SODA, BAC, GOOG, WYNN, BIDU, NFLX
07/09/2016 09:23:48 Mark Glezer: gm
07/09/2016 09:23:52 David B: Good Morning
07/09/2016 09:47:17 Mark Glezer: why a decline that is faster than a prior move up requires a retracement to its origin?
07/09/2016 10:07:27 Mark Glezer: k
07/09/2016 10:18:29 Josey: MT:ca, CGC:ca Canadian tickers that I don’t think you can do, the US convenience tickers are MQTRF and TWMJF.
07/09/2016 10:18:47 ljr mobile: stocks: can you look at: AMZN, SODA, GOOG. (longs)
07/09/2016 10:21:25 Josey: Volume is in the Canadian tickers
07/09/2016 10:24:00 Josey: Yes
07/09/2016 10:24:53 ljr mobile: Wynn, Bidu (short), nflx, – only if u have time for these 3. thx
07/09/2016 10:33:42 Mark Glezer: BAC
07/09/2016 10:51:42 ljr mobile: thx for today!
07/09/2016 10:51:43 Mark Glezer: thx
07/09/2016 10:51:55 Josey: Ty