Jump to content



Photo

GS - Follow the Monsters that Lead This Market...

NEW 2017 LOWS PREMARKET

  • Please log in to reply
61 replies to this topic

#11 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 18 May 2017 - 01:34 PM

 

Today we have AMAT earnings after the bell, and they are BUYING THE MYSTERY, AMAT up almost a buck now...

 

from Today's SOX:

 

Looks like another test of 1052 coming.

 

SOX GAPS DOWN BIG OFF THE HIGH AND IS SLAMMED ON STRONGER VOLUME and closed at 1029, down a whopping 47 points on the day... so we do expect a bounce at some time tomorrow per the closing tick signal, but there was structural damage here... and we could run right back down and test that baseline 1000...trading range - from 990-1006 from here.  SOXX closed at 1029 - and we see resistance at 1031, 1034, 1037, 1040, 1042, 1045, 1048, 1052 (and consolidated 1052 today as we said it would)

 

 

 

1052.03 and the Pullback...


Edited by SemiBizz, 18 May 2017 - 01:35 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#12 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 08:40 AM

Only minor resistance this morning at that 6080 area... jumps the creek... we could see it pullback into that area before 6100... but the better setup is to push right into the reversal pivot at 6103...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#13 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 08:42 AM

We had great news yesterday that the government isn't going to break up the TBTF banks....

 

Note that we have no traction in GS...

 

Beware...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#14 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 09:29 AM

As silly as this sounds here it's not round number analysis, just happened that way.

 

Nasdaq:

 

R1 6050

 

R2 6100

 

(Daily Chart)

 

Here we go... 6099.98  Cute Print.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#15 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 09:44 AM

 

 

Today we have AMAT earnings after the bell, and they are BUYING THE MYSTERY, AMAT up almost a buck now...

 

from Today's SOX:

 

Looks like another test of 1052 coming.

 

SOX GAPS DOWN BIG OFF THE HIGH AND IS SLAMMED ON STRONGER VOLUME and closed at 1029, down a whopping 47 points on the day... so we do expect a bounce at some time tomorrow per the closing tick signal, but there was structural damage here... and we could run right back down and test that baseline 1000...trading range - from 990-1006 from here.  SOXX closed at 1029 - and we see resistance at 1031, 1034, 1037, 1040, 1042, 1045, 1048, 1052 (and consolidated 1052 today as we said it would)

 

 

 

1052.03 and the Pullback...

 

 

SOXX had no problem in getting over it's .618R this morning at 1057 and change...

 

GS is have a real problem getting there though...

 

So there's your bull and bear right there...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#16 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 09:55 AM

To simplify this... just look at it this way...  the bull market test is on the line here at 6103.

 

We'll see soon enough.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#17 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 10:17 AM

So ... looking ahead now... if the Nasdaq passes this 6103...

The upside target is still the 6198 we gave earlier.

And another ".618" test, this time expansion, not retrace.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#18 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 10:34 AM

Today's high of 6101.51 could be close enough for Fibonacci work.

 

Since Fibonacci is an APPROXIMATION technique, not a holy grail.

 

We'll see.


Edited by SemiBizz, 19 May 2017 - 10:34 AM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#19 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 10:52 AM

 

2013 vs 2017

 

 

 

Basically the target area has been nailed now...

 

Let's re-examine the 2013 Fractal possibility... judge for yourself

 

Today would correspond to 5/23 on the 2013 chart.


Edited by SemiBizz, 19 May 2017 - 10:53 AM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#20 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 22,256 posts

Posted 19 May 2017 - 11:56 AM

OK so we have intraday bullish signal just now to test this last high...after 1:15 ET


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1