Saturday, December 26, 2015

WEEKLY WRAP UP ADDENDUM FOR GDX



GDX has been on a BBSqueeze for three weeks now, in the green box on the daily chart at the bottom, that's a Bollinger Band Squeeze for those of you that don't know. Now, the 60 min chart above that was taken on 12/23, it has a squeeze in the green box for all of that day, the Woodies CCI was green for most of the day, and we had a huge push the last bar of the day to turn the "PMomentumUP" indicator green and close ABOVE the upper bollinger band, and waaa laaaa, we get a big gap and run higher on Thursday. What you want to see of course is a "Squeeze" on both time frames, which we had, and naturally the shorter time frame would trigger first, we still have no trigger on the daily time frame yet, so, IN THEORY, we still have room to run, we "should" get up on the upper bollinger bands on the daily chart and run higher. Notice I used the word "SHOULD", hahahahaha, if you don't know what THAT means, well............ I circled the Woodies CCI on that daily chart just to show that it triggered green on Thursday as well, just a little more information there (maybe more than needed). 
Here's a look at the data box:


If you look at the green box on that daily chart again you notice the green bars above the zero line in the left side of the box, those are the "PMomentumUp" bars with the green arrow above, those are the trigger bars for the move HIGHER out of the "Squeeze", right under that is the dark green bars called "PMomentumDown", that happens when the stock is moving down but the trigger line is still above the ZERO trigger line, the opposite happens BELOW the ZERO trigger line with the RED triggers.
Like I've said in the past, the "Squeeze", is when you see red dot's on the trigger line, but that gives you NO DIRECTION, only that a BIG move is eminent, you wait until you get a trigger from the PMom UP or DOWN, green or red, etc etc etc.
Now, why am I bringing this up, besides the obvious "POSSIBLE" set up on GDX???? Because we had a rather LARGE number of SP 500 stocks in my scan that are in the red dot "Squeeze" set up, 47 to be exact, that have NOT triggered in one direction or the other, IE, we have a large number of stocks that are "anticipating" a BIG move, IE, a, POSSIBLE, BIG move may be coming in the Indexes, one way or Da Udder!
Of the 118 "markets" I have in a scan only "SIL" is in a squeeze set up, which makes sense I guess, as a lot of GDX components are in SIL as well. Of those components ABX, EGO, HL and RGLD are in squeeze set ups.
Here's a list of those SP 500 stocks if you are interested:

ABT, AMZN, BCR, CL, CTAS, DTE, EA, EIX, EXRX, EW, EXPE, FB, FHN, GCI, GE, HPQ, JNJ, Q, RSG, NVLS, AKS, 
KEY, LH,MA, MDT, MRK, MO, PNC, PRGO, RTN, SLM, SNDK, STI, SYY,TAP,TGT, TWC,UNH,VLO,WYNN, STX,
SNA, NAVI, NLSN, EQIX, CPGX, UAL.



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