TSP Talk Blog

Stocks continued their volatile ways as the indices gave back all, and then some, of Wednesday's gains. The Dow lost 196-points and the triple digit moves are becoming more common place making the market a little more vulnerable to a breakdown.

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It's a travel day for me and that makes it a little tougher for me to post charts, etc., so I will make it quick today. I'll be back on a normal schedule to start next week. I apologize for the brevity.

The SPY (S&P 500 / C-Fund) traded within the entire formation that we have called either a bear flag, although the flag it getting a little too long, or a rising trading channel. It traded near the top earlier of the range in the morning, but fell near the bottom toward in afternoon trading, before closing closer to the middle of the range. Wide swings can mean trouble, but if the trading range can hold its upper and lower support and resistance, the path of least resistance may be a test of the top of the range again today (Friday). We'll see. Keep an eye on Deutsche Bank.




The DWCPF (small caps) lost over 1% but the cup and handle formation is still officially holding on.




The price of oil ramped up again. This time it didn't have the positive impact on the broader market like it did on Wednesday, but something is happening. We'd prefer to see it rise in oil on higher demand, but unfortunately it this has more to do with artificially limiting the supply.




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Thanks for reading. Have a great weekend!

Tom Crowley

Posted daily at TSP Talk - Market Commentary


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