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Tuesday, January 8, 2013
AA Alcoa Weekly Chart Sideways Channel Earnings Season Begins
AA always signals the kickoff of earnings season each quarter. The red lines shows the price basing occurring over the last year with a falling wedge and positive divergence that created the lift off the bottom. The action over the last month is long and strong. Overall the chart hints at sideways action moving forward. The moving averages and price are lining out sideways. The earnings after the bell today may be uneventful. The projection for AA is sideways with a sideways up bias moving forward thru the weeks and months ahead favoring the 8.5-9.3 channel, and sneaking up above 9.3 as time moves along. For long term investors, AA may be attractive since the flat to sideways up should continue for weeks and months ahead. AA will release after the closing bell today. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
I'd bet after hours that there is an HFT raid that will pin AA to the base of the channel and then instantly pop it back to the middle of that channel. If you can trade after hours that's the trade and it will happen is seconds. I remember the last earning report it was awesome but totally rigged to screw the investors. I'll have my bids in with attached sell limits.
Gold daily chart is setting up with positive divergence, there is a gap at 1639, also down at 1621. Gold now printing 1657 so the positive divergence effects are occurring. The weekly chart is not impressive, the RSI has leaked out a lower low over the last month, ditto MACD line, so it looks like another low is on tap in the weeks ahead, lots of support at 1620. 80/20 rule would lead to 1580 if 1620 fails. Looks like bounce now but weakness will likely reappear moving forward, perhaps key support at 1639, then 1620, then 1580. Perhaps a healthier bounce from 1620-ish in the days ahead?
Gold can't hang up over 1657 which isn't a good thing at all considering the high volume refersal bar a couple of days ago we should be above 1660 by now but we are not it's inching up now I'm done scalping futures now and I have an offer out at 9.74 to say goodbye NUGT. I think your right about the sideways to flush down price action I just hope we get one more flush up.
just before or after options expiration the lid should come off for a pop to 1670 north area. Agreed it's weak I'm not seeing any really really big buyers.
Gold is trying for the 1657 again I saw 101 purchase and an 87 lot - there were sequential robot trades right before that so it looks good for one mush push to 1657 lets see how many stops are up there.
that would have been a good scalp but lets see the stops are above 1657.57 /// yep there they are 171 and 164 - those buyers need to hold now lets see if the got the balls because it going get interesting here...
wow this is crazy 10 lot buyers might just run hundreds of millions of dollars of stops above 1658.30 because no one but the robot are buying these prices 1657-1658
I'd bet after hours that there is an HFT raid that will pin AA to the base of the channel and then instantly pop it back to the middle of that channel. If you can trade after hours that's the trade and it will happen is seconds. I remember the last earning report it was awesome but totally rigged to screw the investors. I'll have my bids in with attached sell limits.
ReplyDeleteboom there it is finally some big buyers in the gold markets a 278 contract purchaser just set it off...
ReplyDeleteGold daily chart is setting up with positive divergence, there is a gap at 1639, also down at 1621. Gold now printing 1657 so the positive divergence effects are occurring. The weekly chart is not impressive, the RSI has leaked out a lower low over the last month, ditto MACD line, so it looks like another low is on tap in the weeks ahead, lots of support at 1620. 80/20 rule would lead to 1580 if 1620 fails. Looks like bounce now but weakness will likely reappear moving forward, perhaps key support at 1639, then 1620, then 1580. Perhaps a healthier bounce from 1620-ish in the days ahead?
ReplyDeleteGold can't hang up over 1657 which isn't a good thing at all considering the high volume refersal bar a couple of days ago we should be above 1660 by now but we are not it's inching up now I'm done scalping futures now and I have an offer out at 9.74 to say goodbye NUGT. I think your right about the sideways to flush down price action I just hope we get one more flush up.
DeleteThere may be lots of sideways action for gold and silver moving forward thru the weeks and months ahead.
ReplyDeletejust before or after options expiration the lid should come off for a pop to 1670 north area. Agreed it's weak I'm not seeing any really really big buyers.
DeleteAlgo setting for AA this evening.
ReplyDeletebuy limits w/attached sell limits
8.65 buy 500
8.60 buy 1000
8.55 buy 2000
8.50 buy 4000
8.45 buy 8000
8.40 buy 25000
8.00 buy 100000
Sell limit attachments 8.72
Swing low sweet chariot!
That's interesting.
DeleteGold is trying for the 1657 again I saw 101 purchase and an 87 lot - there were sequential robot trades right before that so it looks good for one mush push to 1657 lets see how many stops are up there.
ReplyDeletethat would have been a good scalp but lets see the stops are above 1657.57 /// yep there they are 171 and 164 - those buyers need to hold now lets see if the got the balls because it going get interesting here...
ReplyDeleteNUGT is going a dime up from here 9.64 to many block buys computers don't always know best even if GoLD doesn't reach 1660
ReplyDeletewow this is crazy 10 lot buyers might just run hundreds of millions of dollars of stops above 1658.30 because no one but the robot are buying these prices 1657-1658
ReplyDelete