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Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.   Today its all about Hi Tech taking it on the chin compliments of Oracle. Think guilt by association.  I can’t really say much more than that as the charts need more time to show themselves from here (the micro chart frequencies) but when you have a market in gap and go form take off like it did yesterday you create air pockets. Any whiff of anything construed as bad and you get what you got today. That’s a big reason the NASDAQ Comp. is taking the brunt of it as shown below.       From a daily perspective I can’t yet say anything bad as its looking like backtesting and filling the gap. Albeit it does look nasty for the day in the NASDAQ Comp. The S&P 500 doesn’t look near as bad as the comp. We’ll see. From here on out volume and market participation will probably dry up which can also be a cause for today’s action (think amplifying the moves).      That said, don’t expect a lot between now and the weekend.  We have some decent gains in VHC and NUS and who knows we might just ring the register sometime before the weekend and call it a week.       Here is today’s micro charts.                         Daily Chart Frequency           What To Watch For, What to Watch Out For   12-20 We’ll keep this conversation front and center for awhile and update the charts so we can see how the conversation impacts the charts.   Lets spend a little time talking about this.  With every trade you do, what to watch for and what to watch out for are always present.  Lets take a look at the Russell 2000 index for a moment.           Much like the S&P 500 and NASDAQ Comp. This index too like pretty much following the  same script. Here too, if we are going higher the what to watch for is an upside break of the Pink lines POH.       If we …

Reminder: David is available to chat with Members, comments are found below each post.

 

Today its all about Hi Tech taking it on the chin compliments of Oracle. Think guilt by association.  I can’t really say much more than that as the charts need more time to show themselves from here (the micro chart frequencies) but when you have a market in gap and go form take off like it did yesterday you create air pockets. Any whiff of anything construed as bad and you get what you got today. That’s a big reason the NASDAQ Comp. is taking the brunt of it as shown below.   From a daily perspective I can’t yet say anything bad as its looking like backtesting and filling the gap. Albeit it does look nasty for the day in the NASDAQ Comp. The S&P 500 doesn’t look near as bad as the comp. We’ll see. From here on out volume and market participation will probably dry up which can also be a cause for today’s action (think amplifying the moves).   That said, don’t expect a lot between now and the weekend.  We have some decent gains in VHC and NUS and who knows we might just ring the register sometime before the weekend and call it a week.   Here is today’s micro charts.            Daily Chart Frequency     What To Watch For, What to Watch Out For 12-20 We’ll keep this conversation front and center for awhile and update the charts so we can see how the conversation impacts the charts. Lets spend a little time talking about this.  With every trade you do, what to watch for and what to watch out for are always present.  Lets take a look at the Russell 2000 index for a moment.     Much like the S&P 500 and NASDAQ Comp. This index too like pretty much following the  same script. Here too, if we are going higher the what to watch for is an upside break of the Pink lines POH.    If we


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