TSP Talk Blog

Stocks opened higher on Tuesday and after some morning bouts of selling, the opening gains were recaptured for the most part. The Dow gained another 73-points, leading the percentage gains, while the other large indices gained about 0.25% - except for the Transports which was down another 0.40% and continues to lag.

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The big news yesterday however, was Apple's earnings release after the close, which sent the Nasdaq 100 futures up sharply. That's over 40-points, or 0.70%.



So it looks like a good day for the tech stocks today, at least to start. The S&P 500 futures were up about 2-points afterward so Apple wasn't haven't as big of an impact there, but the Dow may also have a good day since Apple is a big part of the Dow.

Last day... promise. I got in late Tuesday and so I have to make this quick and then catch up on some work I missed like a few emails and the AutoTracker results for July. Starting today I am back in the office and on my normal schedule. Sorry for any inconvenience and thanks for your patience.


The SPY (S&P 500 / C-fund) was up 0.22% yesterday. Nothing major but it fought through some possible cracks. The bear flag is still there, but not exactly a classic example since the flag pole is small in comparison to the flag portion.




The Dow Transportation Index continues to be the red flag for stocks as this market leader tends to lead the broader indices in direction, but it could take weeks or months before that happens, and by then who knows ... it may have turned around already. The bear flag did give way a bit yesterday.




The weekly chart of the Transports shows some key support being tested now near 9150, and then the 50-day EMA and longer rising support lines would be next should this 9150 area breakdown.





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Thanks for reading. We'll see you back here tomorrow.

Tom Crowley


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