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

NEW 2017 LOWS PREMARKET

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#21 SemiBizz

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Posted 19 May 2017 - 02:17 PM

That was a sharp pullback we just got here...

 

Could just be a fake out to convince us that we have a reversal off the .618...

 

Or we really do have one...

 

We should know shortly.


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#22 SemiBizz

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Posted 19 May 2017 - 02:38 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...

 

 

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...

 

 

 

 

 

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...

 

 

SOXX is at 1058, knocking on that .618R door...

 

GS trading back towards the low at 215 and change...


Edited by SemiBizz, 19 May 2017 - 02:39 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.

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#23 SemiBizz

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Posted 19 May 2017 - 02:45 PM

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...

 

Waited til the end of the day to consolidate it... 6081 here


Price and Volume Forensics Specialist

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#24 SemiBizz

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Posted 19 May 2017 - 02:46 PM

Man they are selling "Reversal" hard here...

 

I can't buy into it yet...

 

If that fractal holds, we have an inside day Monday, Big exhaustion gap and collapse Tuesday....


Edited by SemiBizz, 19 May 2017 - 02:47 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.

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#25 opinionated

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Posted 19 May 2017 - 02:53 PM

More NYT rumors about what trump said to russians....  This is really getting rediculas, wish the snow flakes would... Well....



#26 SemiBizz

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Posted 19 May 2017 - 02:58 PM

So... check it out... we had $NBI (Nasdaq Biotechs) test the .618 here, and reversed handily...and it's fallen UNDER the .50R about to tag the .382R

 

So that one ... hmmm


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.

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#27 SemiBizz

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Posted 19 May 2017 - 03:01 PM

OK so 6083... backed off to the next support notch down... have to think that one over... also need to watch the volume after the close... see how much they dump here or report next week...

 

This whole OPEX deal is Crooked now...

 

Can't trust anything.


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.

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#28 SemiBizz

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Posted 19 May 2017 - 03:03 PM

So inside day would imply at least a small gap up Monday...

 

Let's see what happens.


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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.

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#29 SemiBizz

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Posted 19 May 2017 - 03:06 PM

So... check it out... we had $NBI (Nasdaq Biotechs) test the .618 here, and reversed handily...and it's fallen UNDER the .50R about to tag the .382R

 

So that one ... hmmm

 

boy that is ONE UGLY CHART...


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

#30 SemiBizz

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Posted 19 May 2017 - 03:10 PM

 

That 3000 level on this thing is the Cliff


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