Stock Market Daily Discussion for May 16th - 20th

Discussion in 'Stock Market Today' started by StockJock-e, May 14, 2016.

  1. StockJock-e

    StockJock-e Brew Master
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  2. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Bank stocks down today (and the dollar up/flat).
    Some real short term rallies.
     
  3. StockJock-e

    StockJock-e Brew Master
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    When XLF takes out Nov highs, we know we have a rally coming in the markets!

    [​IMG]
     
  4. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    look at gdx/nugt lol....im up 15% from my entry this morning and GC is down, can you imagine if GC is up in the coming days what will happen??
     
  5. StockJock-e

    StockJock-e Brew Master
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    Good move on that NUGT!

    Take profits and run! :D
     
  6. surfsup

    surfsup Active Member

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    What you say could happen but it looks weak to me. Fell below a rising wedge (bearish) and retesting the trend line. It'll go up, or it'll go down!
     
  7. MaximusAnalysis

    MaximusAnalysis Active Member

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    Today's Market Thoughts

    Indecision day at critical levels. We have to keep our thoughts as flexible as possible here. Could break one way or the other and we are in chop

     
    OldFart likes this.
  8. fidelgeorge

    fidelgeorge Well-Known Member

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    MGT Capital Investments (MGT) topped out at $5.58 before crashing 55% yesterday. MGT will have support between $2.10-$2.30.
     
  9. duck mich

    duck mich Member

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    MGT will go higher if market stable
     
  10. OldFart

    OldFart Well-Known Member

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    Existing home sales at 10:00

    Oil rig count at 1:00
     
  11. MaximusAnalysis

    MaximusAnalysis Active Member

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    Yes the numbers are not changing much...that happens in chop #ES_F $ES_F #SPY levels to watch 2048 / / 2036.75 / / 2025.50
     
  12. Talon

    Talon Member

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    If the market wants to repair some technical damage, today is the day to do it. I would think we need to climb up towards Wednesday's high.

    My gut is telling me that today is going to provide some rally relief into the weekend.
     
  13. LSS Trading

    LSS Trading Member

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  14. Baggi

    Baggi Active Member

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    Looks to me like we are forming a down channel on the ES.

    After our last rise, could just be a flag formation.

    But if we break out to new highs this year, we may see ourselves going back to 2008.
     
  15. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    EW has a gap to fill back, and Fib retracement around 91.49
    [​IMG]
     
  16. duck mich

    duck mich Member

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    Is the market moving higher on low volume? o_O
     
  17. OldFart

    OldFart Well-Known Member

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    usually does
     
  18. Baggi

    Baggi Active Member

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    For as long as I can remember the market has moved higher on low volume and people have taken this as a sign that it's artificially high.

    Get used to it.
     
  19. StockJock-e

    StockJock-e Brew Master
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    Its the old norm.

    Still waiting for the new norm to show itself.
     
  20. OldFart

    OldFart Well-Known Member

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    GDDY & GPRO had nice days today
     

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