The ACD Method

did you guys see the late day Point C through the pivot on XLF yesterday?

everyone has been so bullish in the financials lately, i thought for sure we would gap down today. but instead we gapped up and ripped higher.

i was hoping to see one of these "once in a blue moon" trades depicted in the book
 
I have some strong number lines on XLV and several stocks within the sector

JNJ, MDT, PFE, NVS, CELG

Take a look. Healthcare seems to be screaming right now along with the financials
 
Quote from hoop121:

I have some strong number lines on XLV and several stocks within the sector

JNJ, MDT, PFE, NVS, CELG

Take a look. Healthcare seems to be screaming right now along with the financials
More...

Yea healthcare is strong, not the ideal trading vehicles...at least for the way I do things.

Leadership is sitting in the industrials, transports, and some of the steel names.

Financials have had a great run into earnings. This feels like a sell the news type of scenario to me, but who knows? WFC tomorrow, should be fun :)
 
Quote from hoop121:

I have some strong number lines on XLV and several stocks within the sector

JNJ, MDT, PFE, NVS, CELG

Take a look. Healthcare seems to be screaming right now along with the financials
More...

Here is a monthly chart on XLV:

chart.ashx


We had a major long term breakout last year in the sector. As Shan said, it's going to look slow and boring on a daily basis, but long term, this breakout has legs. Better suited for a long term IRA hold.
 
Quote from Shanb:

On the topic of AAPL...we have a long setup coming into play here. Not a A+ setup by any means, but worth a look.

Tight pattern off of the failed monthly adown.

Trigger long through 530
Target: 550

Monthly aup is the technical target but this thing has been thing has been very weak as of late.

FWIW
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For anybody following along...AAPL can be bought through 524 stop around 520ish
 
Gold getting slammed hard giving up all the weeks gain. Anyone hear a reason for the drop? I haven't which makes it seem like were going lower.
 
Quote from DT3:

Gold getting slammed hard giving up all the weeks gain. Anyone hear a reason for the drop? I haven't which makes it seem like were going lower.
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nope, i'm not sure either.

i bought some GDX calls today on the dip. it behaved much better than the GLD today
 
Quote from Maverick74:

I wish I tracked a 30 day on AAPL. The only fly in the ointment is relative strength. AAPL has been acting like shit while the market has been on a tear. Now the spoos are in overbought territory and are vulnerable to rolling over. If we roll over, I think AAPL will easily go through 500. However, I think the ES could very well breakout to the upside here as my volatility reading on the ES shows a big move coming and the number lines are fairly optimistic across several sectors not to mention the strength in currencies and the weakness in bonds. I think the spoos might fail on this first test of 1474 and then come back and go right through it on it's way to 1500. If that happens, your scenario might very well play out. I would prefer to see AAPL outperforming the overall market though and it has been trading very poorly the last month. So honestly I don't have a clue. LOL. Except I do expect vol to get a nice uptick next week. I'll tell you what has been on fire and that's the emerging markets both FXI and EEM.
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Well, the relative weakness in AAPL is quite apparent. Spoos barely down 3 handles and AAPL down 18 pts. The good news, perhaps, is AAPL tested the QTR A down today at 494. However, I rather buy a failed QTR A down when the stock is showing relative strength, not weakness. I still think ES could come off 30 handles pretty fast and AAPL would probably tag 450 if that happened. To say this stock is broken is an understatement.

My weekly A down for AAPL is around 491, right around the QTR A down. This area HAS to hold. But honestly, there are much stronger stocks out there right now then this one.
 
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