Saturday Review’s recording (for 8/20/16)… So close, and yet so far.
Last Monday’s new high seems so far, having printed a week ago. But it’s actually very close, perhaps a strong morning away. That feature speaks as much to the ongoing rally’s strength, as to its likely near-term resolution. Interpreting the variety of patterns and behaviors is this weekend’s initial focus.
Meanwhile, we’re in the middle of a bullish WedEX, and Friday was right in-line. How that should impact Monday morning, and why, is discussed in detail. So is the comparison among the three major market indexes as a way to gauge the stability or fragility of big money sentiment. The Labor Day holiday weekend’s proximity and its effect on price action is also discussed.
The following stock requests were reviewed in this order:
VRX, CS, MU, BABA, MS, BAC, C, GDXJ
08/20/2016 09:31:29 Mark Glezer: gm
08/20/2016 09:31:31 G: audio good
08/20/2016 09:57:31 Bill G: What is the expectation following an active vs a passive bullish Wedex?
08/20/2016 10:04:54 Mark Glezer: downturn should be obvious by Tue afternoon if it happens next week?
08/20/2016 10:04:58 Bill G: thanks
08/20/2016 10:07:30 c: wedex- love it
08/20/2016 10:13:38 Mark Glezer: VRX, CS, MS, BAC, C
08/20/2016 10:14:15 David B: MU,BABA
08/20/2016 10:17:13 Mark Glezer: can still short for a long term?
08/20/2016 10:34:02 Mark Glezer: do u still see BAC getting to 17?
08/20/2016 10:34:51 Mark Glezer: thx much
08/20/2016 10:36:51 Mark Glezer: does your expectation of a move higher in a few financials plays into a liklihood of a extention higher in ES albeit temporary?
08/20/2016 10:37:17 Mark Glezer: play
08/20/2016 10:40:12 Mark Glezer: thx
08/20/2016 10:40:23 David B: thanks
08/20/2016 10:40:25 c: TKS