Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

COHR 170.90

+3.7%

Dec 3 3:59 PM EST

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toccodolce

To: Kirk © who wrote (6725)

2/16/2019 12:25:39 PM

From: Fintas

1 Recommendation Read Replies (1) of 26680

I remember when a 10% correction was considered a bear.

Here's the latest PNF of the RSI of the RUT. IT closed at 37.339 even though the RUT was up 20 ish.

That is barely a nudge from the previous day re it's RSI and it says to me yes it's up but I would not be looking for a double from here anytime soon. The range UP to turn to X's is apprx 15-18% and the risk down is similar if we add 2 O's and far less if we just retest the 36 ish.

So I wouldn't be surprised to see the 1600's. I would be surprised to see it's RSI turn to X's at the 43.74. So I lean RUT will either retest the 36 or add a O or 2 and THEN set up for a nice double over time. Which by the way off that 972 it failed to do YET and some 3 years. AHH but off the lows way way down there.. TWAS a nice move. Same could be said for the SOX and off it's lows of way way back.

SO BULL OR BEAR. Well yes we had a decent hit. BUT take a look at AMAZON off it's 4/34/64/100/200/500 and that pullback from 2020 to 1370 ish was NADA. IMO

Fintas

	91	98	00	14
77.1122					77.1122
72.4058					72.4058
67.9867					67.9867
63.8372					63.8372
59.9411					59.9411
56.2827			3		56.2827
52.8476			X	O	52.8476
49.6222	C		2	O	49.6222
46.5936	X	O	1	4	46.5936
43.7498		O	X	O	43.7498
41.0797		8	X	5	41.0797
38.5725		A		B	38.5725
36.2183				9	36.2183
34.0078					34.0078
31.9322					31.9322
29.9833					29.9833
28.1533					28.1533
26.4350

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