Tuesday, July 9, 2013

July 9

Gap up -- again.

tf   1011  at 7:53

TSLA added to QQQ.   2.4%

YY, SCTY, AMZN   strong.

GDX, GLD strong on China inflation data.


IBD names, regional banks strong.

IYT broke TL to upside...   confirming.

QQQ up 9 days in a row.
NAMO 43...

oil flat 103.05.

PCLN 888 --   huge winner yesterday.

XHB -- under 50 day MA - lots of distribution.  Really not participating but it doesn't matter for now.

XLF - pushing hard - may hit new highs soon.

/tf -- ran up to 1013, TL break, double bottom 1009, back to 1011 -- small backtest of TL break.

premarket trading may be best to take double tops/bottoms as mostly rangebound but difficult with no Market Signals to work with.

SOYBEANS, CORN -- UP 1.4%  huge jumps --

CF, MOS may spark

Backtest entry for /tf -- right on  -- no heat as it backs down again 1010.  

/cl drops 102.77 -- o/n lows.

note: yesterday's failed trade -- triple bottom after a b/o -- but the adv-dec. never popped -- so it was a prone to failure.  Must have everything going our way.

/tf  1012.3   9 am.... .57%

TSLA, DDD, amzn, nflx, scty, irbt, aig, yy, snts, gmcr push.

/tf -- tl break / backtest -- and  pullback now to 1008.9 -- almost to the old high b/o  --

AD trending down to 300 at low.

big gravestone doji at the open was the signal to look for  short -- and that it was safe to get in for test of on low.

 /tf  lod  10:29 am --  look for 11:30 entry???

/tf 1014 --  just need to get on the TL and set tight stops -- the winners will take care of the losers.

Market Signals confirm -- you don't have to wait.

You just NEED 3 TOUCHES of  line.

AD  1100 -- no shorts possible... yet.

IYT  2.5%
XHB 2.12%

Dangerous market to short....    squeezing.  You need a TL to work with, not a hunch.

small p/b to 1013...

no TL formation..

ad 1200+
adr +700

double top?   too strong.   No TL.

can you short a triple top wit had +1200 and all signals bullish?  I just don't think so.

Need confirmation from somewhere.   Can't be purely a chart - has to be within context of the day.

triple top /es -- failed.    Internals in Trend up Day.

+700, +1200 adv-dec.

tf 1017 --

adrl 856

XHB -- ripping huge bounce  on   low vol.

AD 1390 --    
tf 1017.50 -- double top -- flattening adrl..   midday rangebound.

adrl  trending down 692 -- could look for a TL to surf down...

XHB -- still trending up.

AD  +1000  = no short set ups  period?  Would this save a lot of bad trades?
AD 1300+ today so definitely not.

/tf rolling back 1015

AD 1400... just too strong to tank so don't bother.

PERI   8.95% end of day.

1015 close....

power day.

charts later.

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