I miss BT.
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Finally got a response from TSP. They said it must be a glitch on my end; that all their systems are a go. I sent back a kind note to them that two items were necessary to review to assure a functioning system (1) the IFT itself (I'm not above making a mistake) and (2) the 1st email I sent to them last Saturday. They say they don't have either. I can understand one glitch... but two...within days of each other..asked them to make sure they have it right.
At any rate...I'm on to the today...the past is the past...Time for Yellin to start yellin....
FS
Yeah, right. I have to hand it to you, FS. You are certainly more civil than I could be in that circumstance. I'm feeling severely ripped-off right now and this happened to you not me. I can live with my mistakes but not theirs.
They say their system is go. Does it still show you have a pending IFT that never gets executed? I'm wondering if they just blew it away. :suspicious:
I have to say this one incident has me reconsidering my decision to leave my money in the TSP when I retire. :mad:
Good point Cactus. I've never had an IFT issue after 100's of IFTs over the years, but all it takes is one indiscretion and you lose trust. Maybe one lesson learned from this is now I'll always make my pre-planned IFTs the evening before, and not wait for the following morning.
Glad to see that the nervous nellies are done selling and the market is back to the bull trend. I don't expect this rally to get beyond the 2420s though, then comes a scarier drop of 5% or so...if the Elliott wave gurus are right anyway. Who knows.
My quick look at this coming week worries that SPX may dip to the 2353 support and possibly down to 2336. Oil looks set to rally off the 200 DMA but I think the smart money will be selling that rally because oil isn't done pulling back. The question I'm kicking around is what is going to happen with the bond market. The graph below indicates the 30 year has bottomed so bonds prices look ready to rally. If that happens: then bonds and stocks would be moving in separate directions until they aren't. More importantly to me is the probability that if bond prices rise yields would go down. So questioning whether it's smarter to stay where I am or jump to G for a bit. SPX has a Fib upside of 2428 but it looks like consolidation is needed before it heads there..
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FS
A few charts from folks I like to keep abreast of: (a) TRANS double top pattern (potential) and (b) SPX (possible pullback to 50 DMA)
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FS
Thanks for the info FS. This just re-affirms my decision to exit the market last Friday. I'm beginning to understand that conserving capital is just as important as increasing it...:1244:
True. Unfortunately some of us can't do either. :(
Well it looks like we cut through that 2353 support like a hot knife through butter...next up, 2336, then look out below. Get the popcorn ready. This could be painful...:popcorn:
My question for the day: SPX appears to be advancing off of 2339. Brexit is coming up while we are focused on the Health Bill. Several analysts are saying that there will be a short squeeze when oil hits $50, but as of this morning there is 5M surplus in inventories...Will large caps advance? Inquiring minds want to know...at this point I think we may still be in consolidation mode.
Here are a few SPX charts for reference purposes:
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FS
One of the market analysis videos pointed out that unless there is a healthy bounce, there is likely more downside, hence my move to the F-train. Another comment was with a big move like yesterday, the market will often take a breather... would that push a bounce to the following day? Not thinking so... thoughts?
I tend to agree WS. Yesterdays TRIN was high which indicates markets up in the morning and shorting in the afternoon. Also, the Dollar/Yen relationship appears about to crossover which will limit liquidity (YEN up\Dollar down). Not there quite yet but close. Expect further consolidation when that happens.
FS