Thursday, July 3
half hour to go
Thought they would do a little better than that but they are struggling. Indicator is neutral, meaning they can go either way.
Mid day observation-----short day
The kick back still holds together and I think it will do a little bit better before the day is out, but not a whole bunch better. Talk to you about 12:30
Morning observation
Well the kick back had a shaky start to it but I think it is under way. Maybe back to resistance but not beyond. Indicator is off the oversold and is neutral pointing higher. Talk to you later.
Back up
Ok some good strength in pre market. As I said we were oversold so a rally is in order. I don't know if we can get back to resistance but it is possiable.
Pre market report
My Chart vendor is down so I can not see anything. We did come in oversold. As soon as my vendor is up I will report back.
Wednesday, July 2
One hour to go
The overbought condition has been corrected, it is some what oversold but not much. Let's see what the last hour has for us.
Afternoon observation
Making progress correcting the overbought, we are in neutral territory. I think the action is not good in lite of what at first glance looked like a reversal day. The TRAN ave. is getting hit, down 136. No reversal day there.
Mid day observation
The rally has run out of the new monthly allowance, and has begun to correct that overbought condition, and I don't think the process is complete. Talk to you later
Pre opening remarks
A little follow through from yesterday. Not sure how much ground they can gain as my indicator is on the overbought side. Lets give them a hour or so and see how they do. Talk to you later.
Tuesday, July 1
One hour to go
Another bounce back, this one has moved the short term indicator into over bought territory.
Afternoon observation
Indicator still neutral. Covered a few , not that i think they have bottomed but just to keep in motion and ring the register.
Mid day observation
The bounce back from the opening has given way to more selling. And that is what we can expect in the future. Indicator is still neutral.
Morning observation
Bouncing back from the opening, at least they could do that, maybe a little more . But I don't trust the rallies. My indicator is neutral.
Pre opening remarks
Eye catching weakness in pre market,they will gap down on the opening. Europe is off 2%or more and I think we can expect pretty much the same. As I said we have a sick market.
Monday, June 30
Mid day observation
One minute they want to do better and the next they fell like they are going to get hit. Undecided and still watching.
Morning observation
There are still sellers around and the market is not able to make any ground on the up side. Still watching.
Pre opening remarks
Pre market look pretty flat,big picture is down, but there is a chance we get a kick back rally. Short term indicator is neutral. Let' watch for awhile.
Sunday, June 29
Friday, June 27
One hour to go
Trying to lift them but no punch to them and on top of that short term indicator is finally moving out of it's oversold condition.
Afternoon observation
Some very persistent selling, I am not getting what I thought, short term. But certainly the big picture is playing out as we thought, maybe easier than it should be. Short term still very oversold but who is listening.
Mid day observation
Very persistent ,lots of emotional selling, it's like Oh my god get me out get me out. But we are still oversold so there is still a chance we get a lift. We will see.
Morning observation
Things seem calmer. Usually after a big down or up day , people who see it on the news after they come home from work tend to react the next morning(like today) and that is what causes the futher move in the early hours. I am still looking for a kick back, don,t think it will be big.
Pre opening remarks
A slight bit of weakness in pre market. Yesterdays action shook up many people, so some weakness in the early hours is not unusual. But the day is young so let's see what we get. I say we are oversold short term.
Thursday, June 26
One hour to go
Looking for some kind of rally, maybe not today but the indicator is as oversold as I have seen it.
Afternoon observation
I think they are searching for a short term bottom as we as very oversold and once again(I know I sound like a broken record) this oversold condition must correct itself. Let's see what we get.
Mid day observation
The selling has subsided, short term indicator is now oversold, I don't know if it will get more oversold or just stay here for awhile. But we are pretty oversold.
Morning observation
I don't think the selling is over for the day but the overbought condition has been corrected as I am sure you have figured out. So now what? The indicator is only slightly oversold so I would not act on it yet. Let's watch
Pre opening remarks
Big selling in pre market and in Europe as I pointed out in my video last night. I would stay out of the way for a while. Let's watch it
Wednesday, June 25
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