Saturday Review’s recording (for 4/27/19) …Eke.
The week got off to a slow start, albeit absorbing a gap down coming out of the weekend. Tuesday morning’s rally was also the week’s rally, representing its only uptrend. Everything that followed was hesitation, backing-and-filling, and retracing. Until one hour before Friday’s close, which rallied again.
This week’s Review discusses how we knew from Tuesday’s surge and then from subsequent price action that fresh highs were still coming. We also discuss how that subsequent price action already defines any further probe of fresh highs, and what Friday’s new trend high close means, and doesn’t mean.
The following stock requests were reviewed in this order:
AMZN, GOOGL, GE, TSLA, XLNX, BIIB
transcript
—————– (04/27/2019 09:32) —————–
Rod David: Welcome to Saturday Review. Please post questions and comments as they occur to you.
David B: Good Morning
—————– (04/27/2019 09:57) —————–
Adam: Is the distribution from a few weeks ago still relevant for a bigger picture top forming?
—————– (04/27/2019 10:00) —————–
David B: was that distribution pattern since the market has rallied were those strong hands wrong?
—————– (04/27/2019 10:11) —————–
David B: GOOGL,GE
—————– (04/27/2019 10:16) —————–
David B: TSLA
David B: was 250 a key level broken in resuming the downtrend?
—————– (04/27/2019 10:23) —————–
David B: XLNK
David B: is this similiar like biogen
—————– (04/27/2019 10:32) —————–
David B: yes
—————– (04/27/2019 10:33) —————–
David B: its was the right stock
David B: do you see a melt up?
David B: for the market
David B: good employment report?
—————– (04/27/2019 10:35) —————–
David B: that is what i’m talking about multiple sessions
—————– (04/27/2019 10:37) —————–
David B: Thanks
Bill G: thanks