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Stocks opened higher on Tuesday but lost steam in afternoon trading and the Dow let a 90-point gain turn into a small loss. Negative reversals tend to lead to some short-term downside follow-through, but it doesn't necessarily mean today will be a down day by the close.
We have two reversals today, Bonds breakdown, while the S&P 500 breaks out. I should preface this with a warning. This hasn't been much a trending market so much as it is an oscillating range-bound trader's market. Considering these circumstances & price-scale, following a PnF platform under TSP's limitations can prove to be very difficult.
Triggering a Bullish Signal Reversed, the previously well-established
Updated 04-09-2015 at 05:34 PM by JTH
Stocks opened lower on Monday as we suspected, as investors sold-off the weak jobs report in the futures market on Good Friday, but as we expected - or hoped for - cooler heads prevailed and buyers stepped up. The Dow closed off its highs but still gained 118-points on the day.
TSP Talk Sentiment Survey results for the week of 04/06/15- 04/10/15
The TSP Talk Sentiment Survey came in at 44% bulls, 41% bears.
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Stocks rallied on Thursday, and Friday was a day off for the market, but that didn't stop the jobs report from triggering an early sell-off in the futures market while they were open briefly. The Dow was up 65-points Thursday, but with the payrolls numbers coming in at about half of what was expected, it took away those gains and then some. The only question now is, how much of that will rollover into Monday morning.