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Post by clinton on Apr 26, 2017 9:16:44 GMT -5
BTW anyone mention the new 25% tariff on canadian lumber?
homebuilders wont like this
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Post by clinton on Apr 26, 2017 9:17:46 GMT -5
CDE earnings tonight
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Post by ipath on Apr 26, 2017 9:19:18 GMT -5
Good morning all. It's funny I can see huh's charts but not those from theMist. Huh I gues you upload the pic directly while Rob posts a link
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Post by huh on Apr 26, 2017 9:27:27 GMT -5
So MNKD did a reverse split? That's not good. Only gives it more wiggle room below, and looking at its chart, that's very likely. I think MNKD has a decent chance of seeing .40's now - that's <.10 pre-split price - and a good example of why reverse splits can be so devastating to a stock. If S&P is in the right place when that happens, I might play it long from there, but this stock has a good chance of going to zero, so ONLY IF S&P is on some major support. At this rate, MNKD will be sub zero before S&P touches any sort of support |
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Post by huh on Apr 26, 2017 9:27:52 GMT -5
Good morning all. It's funny I can see huh's charts but not those from theMist. Huh I gues you upload the pic directly while Rob posts a link I can see Mist's charts, but yeah, I do post them as a pic vs. a link |
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Post by theMist on Apr 26, 2017 9:33:25 GMT -5
Good morning all. It's funny I can see huh's charts but not those from theMist. Huh I gues you upload the pic directly while Rob posts a link I can see Mist's charts, but yeah, I do post them as a pic vs. a link I use Postimage.org. Huh, how exactly are you posting charts? I'll post one that way so iPath can see. Would welcome any thoughts, insights |
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Post by ipath on Apr 26, 2017 9:34:18 GMT -5
I also can see Rob's charts from home computer but not from work. Dealing with highly sensitive data so we are super protected. Either way, thank you guys for taking your time to share your research. I have been more of a fundamentals guy, but definitely can learn from your charting skills. That’s a benefit of such a place that there are individuals who have strengths and weaknesses in different areas, so that we can exchange the ideas
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Post by walnut on Apr 26, 2017 9:35:12 GMT -5
Me too, when i tried to open one of Mists chart photos it came up blank. that's the first time that happened. Something has changed.
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Post by ipath on Apr 26, 2017 9:35:47 GMT -5
I can see Mist's charts, but yeah, I do post them as a pic vs. a link I use Postimage.org. Huh, how exactly are you posting charts? I'll post one that way so iPath can see. Would welcome any thoughts, insights thanks Mist, its really not necessary that you do this just because of me |
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Post by walnut on Apr 26, 2017 9:36:49 GMT -5
BTW anyone mention the new 25% tariff on canadian lumber? homebuilders wont like this I know, this one seems weird and almost counter to US interests. I think Trump has some big Southern US timber contributor guys. So, basically Canadian timber has been banned. |
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Post by walnut on Apr 26, 2017 9:41:06 GMT -5
Me too, when i tried to open one of Mists chart photos it came up blank. that's the first time that happened. Something has changed. OK, now it is working again. |
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Post by clinton on Apr 26, 2017 9:54:21 GMT -5
draw down on oil inventory but a huge build in gasoline inventories.
sounds like a suckers rally for oil today.
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Post by theMist on Apr 26, 2017 9:57:27 GMT -5
iPath -- let me know your thoughts from fundamental standpoint or technical
S&P gapped up over resistance on Monday and broke out from Triangle pattern and above neckline of inverse Head & Shoulders pattern.
There's also a SP double bottom pattern in play with pivot at 2378.36. All of these targets point to SP2430 range.
SP also has a very large inverse H&S pattern in play that points to SP2460-2470 area.
In a normal market, once the breakout is approx 1% into the move it becomes technically significant and that is
at the point where SP should drop back down and backtest the breakout. It is expected from TA standpoint.
So, I'm looking for S&P to backtest SP2360-SP2367 area. If backtest succeeds then markets should continue on to new highs.
For this bull move to completely fail, SP would have to get below SP2322.
When SP broke out from SP2300 area, it never backtested and left behind a gap in 2320 area. That was the first time during this bull market
that SP just screamed higher and never backtested. That was the first sign of irrational exuberance IMO.
And if S&P doesn't backtest this recent breakout (Sp 2360-67 area) and continues on to new highs and hits SP2460-SP2470 large inverse H&S target
then that will not bode well for markets in long term IMO
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Post by ipath on Apr 26, 2017 10:04:28 GMT -5
iPath -- let me know your thoughts S&P gapped up over resistance on Monday and broke out from Triangle pattern and inverse Head & Shoulders pattern. There's also a SP double bottom pattern in play with pivot at 2378.36. All of these targets point to SP2430 range. SP also has a very large inverse H&S pattern in play that points to SP2460-2470 area. In a normal market, once the breakout is approx 1% into the move it becomes technically significant and that is at the point where SP should drop back down and backtest the breakout. It is expected from TA standpoint. So, I'm looking for S&P to backtest SP2360-SP2367 area. If backtest succeeds then markets should continue on to new highs. For this bull move to completely fail, SP would have to get below SP2322. When SP broke out from SP2300 area, it never backtested and left behind a gap in 2320 area. That was the first time during this bull market that SP just screamed higher and never backtested. That was the first sign of irrational exuberance IMO. And if S&P doesn't backtest this recent breakout (Sp 2360-67 area) and continues on to new highs and hits SP2460-SP2470 large inverse H&S target then that will not bode well for markets in long term IMO Very well explained.. thank you so much, is really appreciated. When you say 1% into the move, is that for the day or generally for the move from the previous resistance point? |
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Post by theMist on Apr 26, 2017 10:14:22 GMT -5
Move becomes technically significant when 1% into the breakout -- from previous resistance point
SP had descending resistance off March high of SP2401.
Points for that line SP2401 (2398.60), SP2390.01, 2378.36 and SP2368ish
When we gapped up on Monday above SP2368ish it broke out over resistance.
Became technically significant when SP hit 1% mark above the break (of that resistance) when hit 2391.68
1% of 2368 is 23.68
so 2368 + 23.68 = 2391.68
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Post by theMist on Apr 26, 2017 10:25:34 GMT -5
If SP keeps screaming higher and gets above SP 2401 (all time high) without pulling back and gets to SP 2460-70 area
then it's not going to be pretty when they hit the SELL button IMO
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Post by theMist on Apr 26, 2017 10:35:06 GMT -5
Huh, you have your gap fill to SP2395
Sp currently at 2397
will be interesting to see next move
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Post by huh on Apr 26, 2017 10:37:41 GMT -5
Huh, you have your gap fill to SP2395 Sp currently at 2397 will be interesting to see next move Yep, gap filled. Vic scams still green though. Btw, I use the direct link option at PostImage, but it might be hard to view your charts with that since they then can't be zoomed. |
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Post by theMist on Apr 26, 2017 10:40:46 GMT -5
SP Hourly chart using direct link In normal market SP would pullback and backtest the breakout (circle area)  SP Daily
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Post by ipath on Apr 26, 2017 10:44:45 GMT -5
SP Hourly chart using direct link In normal market SP would pullback and backtest the breakout (circle area) SP Daily
In normal market is the keyword  |
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