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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Turtles_win who wrote (133415)	3/12/2020 12:57:34 AM
From: robert b furman	4 Recommendations Recommended By Ericeira seminole SGJ the longhorn Respond to of 207447

Hi TW, Clx 30 day has now gone negative well beyond where it went during the December 2018 fast decline that was said to be because of imminent recession. 12/26 clx 30 day hit - 4.97 On that day the daily clx was the first positive day, after a negative string of 17 days of which 14 were negative ,2 were small positives and one was a 0. On 12/25 aydis ( a sign of distribution was -3.7) - it took four days following for aydis to settle down and begin to show stock accumulation. Today we are -4.3 after yesterday's - 5.3 - this general market sell off has created more selling than the December 2018 sell off. As of today it is somewhat less of a panicked sell off from yesterday Today's 30 day clx has hit -6.27. We have been negative for 13 days straight. in 2015 I have it getting as low as 6.70 and 7.10. We are very close to reversing on the 30day clx. Today the 10 day clx reversed very nicely from-15.8 to -11.8 as of today., Joanne McCables bottom spotter that cheif occasionally puts up has been reversing today for the second day. After the sell off subsides the daily clx will get positive and slowly climb - before real solid buying can develope, we must overcome the fear of negative price action and I'm guessing the news headlines of Covid 19 need to quit becoming worse or at least not so badly hyped. In december that took 5 days after the first positive clx number- that in hind sight is the perfect buy at the bottom time period from what I can gather. The pandemic being declared today is probably not conducive for a turnaround. That leaves us with a Friday and you know what that means- 3 days of pain for the price of one. That's the bad news. The good news is bottomspotter has already reversed (it usually takes 3 days for it to deactivate) and we've been getting better for two. A good day tomorrow will trigger the 4-5 days of insecure buying and we'll be off up into expiration and hopefully much more. Aydis after hitting a -10 on February 27th got positive for 3/3,3/4,and 3/5. Reversals sometimes need to retouch a negative again (-9 would be extreme here and it could be for two days). I'm still learning EW, but I'm of the thought that short term positive followed by another dip in aydis correlates well with a C wave having 5 waves and that anemic 4th wave with a fifth wave may be signalled by a final quick dip down. That final wave goes out with a whimp and lower 5 day trin numbers which we have seen the last 2 days.with +4.19 and + 4.06 may be giving us that clue. Let's face it , with a big dip down, the only buyer is the market maker and he'll drop the price with every 100 shares you sell into a panic. when that bottom comes in - it will be because dip buyers are competing with the market maker and when he feels that, it will be price mark up time. With a dip this big, he's got a lot of inventory to sell at higher prices and make a paycheck for himself. There are signs we should crank big time anytime. What is causing the sell off is price action and public fear - I don't see that going away tomorrow and then we have a friday. The very good news is we have some HUGE negative offsets rolling out for the 10 day clx. That's a big plus. The bottom spotter reversing for two days is a huge plus. Couple that with the news is not on our side. I think we need to gut out the weekend and monday and see if we calm down. That's when the dip buyers will show up. Then it will be up into expiration and beyond with a rip your face off rally that will force the shorts to cover. We are in bottoming price action and it is imminent plus or minus two to three days. Wait for a lull or take a wild 2-3 day chance. It just depends on you're risk endurance and ability to cope with ugly price action. It is interesting that the Dow's 12 hour RSI bottomed on the close 12/25, and has gone up ever since. Since then we've gone up weakly and now are declining in price again. That could be 4 and 5. Come this monday the largest number of the 5 that add to be the 2cs will drop off. Turnaround Tuesday We're close TW. Now is darn sure NOT the time to sell. Those are my best thoughts and I'm not a guru. We SEE!!! Bob 2cs studies are at record levels - again suggesting this general market decline has been more severe then December 2018's fast and big decline. I've tracked it for 5 years and never seen a big a number, suggesting a bottom is currently being made. Tom Drake gave me a chart which showed a very negative number in November of