9 replies to this topic

[SemiBizz]

That's what I said a few weeks ago... bottom on 7/7, up into 7/19, down into 8/16.

 

That's my story and I'm sticking with it for now...

 

 

[Rich C]

I sold the tech's on Thur. that I bought a few weeks earlier, they ran up too fast.  MSFT was down a bit on Friday.  I sold a bunch of the SPY on Friday.  Next week is the biggest of earnings season, and I don't like to sell in front of it, but things didn't feel right, with MSFT falling on good news.  My concerns are out a bit farther than yours, in August when congress wrestles with debt ceiling, budget, healthcare and tax reform.  I think it will get not nice, and cast a cloud over the market, maybe into Sept.  

[da_cheif]

That's what I said a few weeks ago... bottom on 7/7, up into 7/19, down into 8/16.

 

That's my story and I'm sticking with it for now...

 

 

not again?   lol

[SemiBizz]

 

RUT - KEY REVERSAL DAY - CAME ON BLOWOUT VOLUME.

[SemiBizz]

I sold the tech's on Thur. that I bought a few weeks earlier, they ran up too fast.  MSFT was down a bit on Friday.  I sold a bunch of the SPY on Friday.  Next week is the biggest of earnings season, and I don't like to sell in front of it, but things didn't feel right, with MSFT falling on good news.  My concerns are out a bit farther than yours, in August when congress wrestles with debt ceiling, budget, healthcare and tax reform.  I think it will get not nice, and cast a cloud over the market, maybe into Sept.  

 

I'm not good enough to forecast those Washington variables, I just rely on Simpleton Analysis, looking at seasonal trend cycles, year's that end in 7, stuff like that...

 

[fib_1618]

RUT - KEY REVERSAL DAY - CAME ON BLOWOUT VOLUME.

 

Since no volume data is available for the RUT, I was wondering what your source is for the daily volume component?

 

As a point of reference, the S&P 600 Small Cap Index had below average volume on Friday.

 

Fib

 

[SemiBizz]

I use Bloomberg for Volume

 

https://www.bloomber...m/quote/RTY:IND

 

Change defaulted time frame to one month - select Volume from indicator drop down menu...

 

Friday's Volume was the strongest since 7/6 at the low... So it sure looks like a bonafide turn.

[SemiBizz]

 

Follow the Leader...

 

213 Here we come...

[SemiBizz]

 

RUT - KEY REVERSAL DAY - CAME ON BLOWOUT VOLUME.

 

Lower low, holding under... confirmation.

[SemiBizz]

This is Today's Volume Dynamics RUT Forecast :

 

RUT - KEY REVERSAL DAY - RUT Opened in the previous trading range at 1443.37, exploded to a high of 1452.05, then fell HARD ON VOLUME to a low of 1433.83 and closed nearby at 1435.84 or down about 6 1/2 points.  This came on BLOWOUT VOLUME, and yes this high can be tested, but if RUT falls from here under 1433, we can consider that this was a valid reversal signal and to expect a leg down and we think it will result in a test of the confluence zone at 1408-1413 if that is the case.