Monday, August 5, 2013

Aug 5 - Monday.How High Can You Jump?

Flat o/n -

/nq - extended  and top of channel...

could drop 15 pts easy to bottom of uptrend.

eurozone PMI expands...

FB, PCLN targets raised...
AAPL strong on patent news...

/cl - just about a 50% retrace from high to low run - last week.

/cl - perfect touch - 50% fib.

/tf -  on Fri. close.
/cl - bounce to cover and now puke candle - dropping it back to 50% fib level...   no support, no triple bottom in place.

note:  /nq chart is very 'smooth'  whereas  /tf  /es  extremely choppy lately -- may be easier to stick with /nq patterns as less prone to noise.

3126 is 50% retrace ---  Fri low to o/n high this morning -- would be interesting if it touched and ended up being the low.   9:14 am

ADn -800   trending lower...

adn -725 -- 
IBD leaders powerful  but already 10:25 and still weak.

/nq - pushes to unch.   Fri close -- 

advr  -68     may just push through

trla, scty, z, fltx --       squeezing  everyone.

/nq  green  with adn -500

/tf -- Through top --  Fri high.....

ad flat.

once /tf broke 5 min TL -- and settles above 10 min OR -- have to go with uptrend.

/nq - takes out   highs 3140  with negative AD.

triple top channel formed (new channel)

AMBA -- through 50 day MA - -stophunt -- now below --   curious.

/nq -- RED....  clearly the better short.

must recognize - divergence---    /nq was the correct one to look for a triple top...

/tf - bull flag -- triple top

adr +178   This is not a short with strong IBD leadership.

ADr  flat...       best trade of the day is over now....

/tf -  above 10 min OR    AND     advrld +70   and IBD names strong  == shorts gonna lose.

/tf - pushes to the highs at the close


adrld  +341

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