Saturday Review’s recording (for 4/13/19) …No man is an island. Was Friday?
Friday’s gap up from a multi-session flat-to-higher range was a breakout. Closing (almost) at the opening print suggests Friday’s trending was no different than the multi-session range preceding it. What does that mean for the rally, how might it resolve, and what are the signs of each setup? This week’s Saturday Review addresses those questions, and many great questions posed by attendees.
The following stock requests were reviewed in this order:
WFC, JPM, BAC, GS, MS, NFLX, CSX, MMM, T, IBM UTX, SYMC, BIIB, PEP, TEAM, LVS, ISRG, HON
transcript
—————– (04/13/2019 09:31) —————–
Adam 2: hi
—————– (04/13/2019 09:33) —————–
jp: gm
ljr: gm
David B: Good Morning
Adam 2: gm
Rod David 2: Welcome to Saturday Review, please post questions and comments as they occur to you.
Bill G 2: gm
ljr: wondering if there is a globex gap that needs tested from below
Mark G: gm
—————– (04/13/2019 09:48) —————–
ljr: seems like lots of people think this can’t keep going and things are frothy… also seems timely for all these new ipos at a potential top
—————– (04/13/2019 09:52) —————–
Bill G 2: Fri open still needs to be tested from below?
—————– (04/13/2019 09:58) —————–
Mark G: are we in a sequence of 10 up days with 1 or 2 counter-trends and early next week might be a resolution?
ljr: we’re so close to all time highs… seems like we “should” at least touch them
—————– (04/13/2019 10:03) —————–
ljr: i guess it turned out to fridays open
ljr: the globex gap
—————– (04/13/2019 10:04) —————–
David B: when a top starts to form is usually the dow outperforms.?
—————– (04/13/2019 10:06) —————–
Mark G: looks more like a range even though pointed higher
David B: earnings have been lowered so much it seems like companies beating will continue this market higher?
—————– (04/13/2019 10:10) —————–
Mark G: can 2928 qualify as proxy for 2941?
—————– (04/13/2019 10:17) —————–
Bill G 2: In regards to David’s question on tops: several years ago Jason at Sentimentrader did a study to test the order of major major indexes reaching tops and found no consistency to which index hit top first.
—————– (04/13/2019 10:20) —————–
ljr: any changes to expiry/wedex this week?
ljr: stocks: NFLX,CSX,IBM, UTX (earnings tues)
ljr: stocks: PEP, TEAM, LVS (earning wed)
ljr: stocks: ISRG, HON (earn thurs)
ljr: i have to go, but will watch rest of recording later
ljr: thc
ljr: thx
Mark G: Nxt being a short week would you expect a down turn to happen early enough like by Tue afternoon if it intends to happennext week?
—————– (04/13/2019 10:24) —————–
David B: this week with the market closed on friday and options expiration does the wedex play out on thursday afternoon and monday morning?
—————– (04/13/2019 10:30) —————–
David B: MMM,T
—————– (04/13/2019 10:39) —————–
David B: MMM has not reallly participated in the market rally is that a concern?
—————– (04/13/2019 10:41) —————–
David B: same concern
David B: T
David B: SYMC,BIIB
—————– (04/13/2019 11:04) —————–
Bill G 2: Thanks
David B: Thanks