08/16/2014 Weekend Update

[Cobra]

Smart money covered some. Generally I'd like to see a huge covering then chances are very good that the bottom was in. The cover this week is not very huge, so hard to say. Favor bulls though.

The institutional buying and selling chart (courtesy of stocktiming) shows rapid falling in distribution, so another factor favors bulls.

inst b sell.png (15.94 KiB) Viewed 6049 times

[Cobra]

Summary of the week's stock picks.
good week.
viewtopic.php?f=10&t=1390&p=169116#p169116

[Cobra]

Preview of the next week's stock picks:
viewtopic.php?f=10&p=169119#p169119

[Al_Dente]

“Key Reversal Day” Friday:
Bulkowski and others: Remember: The signals are most reliable if they occur after a strong trend. If the trend is weak, so is the signal
The wider the price range on the key reversal day and the heavier the volume, the greater the odds that a reversal is taking place
The rules for a key reversal top are to sell on the open following the reversal and to place stops just above the prior day's high
Edwards and Magee suggest waiting for the next key reversal in the opposite direction. However, others look for the first challenge of a major resistance area that fails for a retest. This could be a moving average, trendline, horizontal support or prior gap.
The pattern can provide for early entry into reversals, but without confirmation (such as from momentum divergences), trading key reversals can prove to be a very high-risk strategy.

DAILY:
Red arrows here are the “key reversal days” this year
Best to double check this yourself; I may have missed some…

HOURLY:
As long as the RSI-14 on the hourly remains above 50, the bull is still alive

[DellGriffith]

Revisiting the list of corrections from October 2011 - present:

viewtopic.php?f=2&t=1389&sid=2ec91d8efd ... f0#p168576

1. A candle prints that is completely under the 50 dma.
2. Then a candle prints that is completely above the 50 dma (not counting tails)

The correction is over. And not only that, but it never fell under the 50 dma again! And in a lot of cases it is gap up, run, an army of white candles, massive short covering, firing up to new highs!

That is a perfect 8 for 8.

Friday's candle was completely above the 50 dma. So next week will be interesting. We have bears calling for a correction next week. Some calling for new lows even. I don't want to say they are wrong, because even 8 for 8, while incredibly impressive, isn't bullet-proof. But that would seriously break a perfect trend. We'll see what happens!

[DellGriffith]

What really should scare bears is I have a set of rules for a bullish MACD cross that is a perfect 37-0 going back like 10 years. We just made bullish cross #38 that fits the system rules on thursday. Those rules say the bulls have the ball and any hopes of a correction are dead.

[jademann]

Soros' bearish bet on US markets. does soros ever lose?
http://video.cnbc.com/gallery/?video=30 ... &par=yahoo

http://www.cnbc.com/id/101917206

State of emergency:
http://news.yahoo.com/police-protesters ... 11380.html
Rich poor divide

[Al_Dente]

TASR (up 9.4% Friday, 6 days after the Ferguson tragedy) makes wearable mini-cameras for cops.
Last year Rialto, CA, released the results of a 12-month study showing (TASR) cop-cams reduced “Use-of-Force Incidents by 59 Percent” and reduced complaints “by 87.5 Percent”
https://s3.amazonaws.com/uploads.hipcha ... 0Study.pdf

Elsewhere, NYC estimates the cost of camming all their officers to be about $32million, and it has not been approved yet. Further, a $5million pilot program has not yet been approved.

Pilots have reportedly been run in Scottsdale/Phoenix, AZ, and Greensboro, N.C., and Fort Worth, TX, and with the campus cops at San Jose State University, CA, and in small towns like Coeur d'Alene, ID, etc. Results have been positive: reportedly, cops originally grumbled about it until a few incidents happened where the videos exonerated officers in false-accusation cases. Now cops are increasingly warming up to the body cams. Budget issues are another story. Fresno and Houston are buyers of the cop-cams….. etc.

More TASR news: scroll down here:
https://finance.yahoo.com/q;_ylt=ApUfGJ ... ton&s=tasr

TASR competitor “Vievu” is privately held. I’m sure TASR has other competitors, but I haven’t found them yet.
The TASR 30 July spike was EPS; the gap and spike Friday was speculation that many municipalities will mandate Cop-Cams sooner rather than later.

[daytradingES]

last week review

[jademann]

Someone said the weekly is not good for bulls:
http://stockcharts.com/h-sc/ui?s=$SPX&p ... 3605518353

[BullBear52x]

Daily candle is bearish.

[BullBear52x]

What are these charts telling me? Lower Hi is clear here, in a week to come if we were to have MACD turn back bearish crossed without new all time high in price, it will be clear to me that major down trend is at hand. a penny of new high will mean a lot on my tea leave reading. Bulls what are you waiting for show me the money!

[BullBear52x]

Gold and Gold miners (GLD/GDX) Friday's action indicated the end of a bullish trend consolidation phase, buy the dip will higher lows to support this leg. Buy!

[BullBear52x]

SLV? I see no light any time soon.

[BullBear52x]

Bottoming process that I like, URA, posted this chart before here too, now a little update, my Key observation point, see accumulation phase with a small break out,then a consolidation with last sell failed, now bull flag is in a play, if breakout, a bullish histogram crossed will give it a good boost. fingers crossed.

[MrMiyagi]

spyX

qqqX

[MrMiyagi]

iwmX

diaX

[Al_Dente]

Top panel shows the top-nine, price-weighted Dow-30 stocks on a performance basis over the last 2 months
Only two heavyweights IBM and GS are above water (above the 0% gain line FOR TWO MONTHS ONLY). They need help from others

Here are the likely candidates to help the Dow:
As of Friday, 40% of the Dow-30 stocks were above their 20-day moving average
Those 12 stocks were:
BA CAT DD DIS GS [?] HD INTC KO MRK MSFT PG TRV

[nysefloortrader]

We have new order flows and also algo trades that go up to 1 tick of the last high on SPX.

This would mean over the next few weeks, we could go back up to the highs soon.

Lots of bears piling in the last few days, large orders, and flows, which would be just enough for the bulls to win this