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Thread: coolhand's Account Talk

  1. #6697

    Default Re: coolhand's Account Talk

    I hadn't considered dipping a toe into crypto believing that its too risky, at least in the near term.

    I don't necessarily buy into Coolhand's view of Central Banks and paper currency, but I have started keeping track of daily close of BTC-USD and ETH-USD trying to at least become familiar with the daily ebb and flow. I need to get smarter on that Wallet business...

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  3. #6698

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    Default Re: coolhand's Account Talk

    Wednesday's pullback did little technical damage. Breadth is falling, but remains solidly bullish. The options are neutral for Thursday. NAAIM reports later this morning. Big news day with IG report coming out today (planned anyway). Anything can happen over the next few days.

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  5. #6699

    Default Re: coolhand's Account Talk

    Quote Originally Posted by turbo23dog View Post
    I hadn't considered dipping a toe into crypto believing that its too risky, at least in the near term.

    I don't necessarily buy into Coolhand's view of Central Banks and paper currency, but I have started keeping track of daily close of BTC-USD and ETH-USD trying to at least become familiar with the daily ebb and flow. I need to get smarter on that Wallet business...
    study blockchain. this will be used to usher in cashless society worldwide. the one final crypto which will be used, only the global elitist know that one. last I read most corps are using ethereum crypto and not bitcoin.

    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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  7. #6700

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    Default Re: coolhand's Account Talk

    No real change to the charts, so I'm not posting them. Breadth rose on today's action, so it remains bullish. The options are leaning a bit bearish for Friday. NAAIM got even more bullish then they already were. That could bring some selling over then next day or three, but it's bullish otherwise. Any selling would likely still be very contained.

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  9. #6701

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    Default Re: coolhand's Account Talk

    It was a mixed week for the TSP stock funds last week, with the C fund posting a modest gain, the S fund a moderate gain and the I fund a moderate loss. However, the C and S funds are sporting pretty sizable gains for the month so far.

    S&P 500.png
    DWCPF.png

    The S fund is still overbought. The C fund has some room to run before it gets overbought (based on RSI). Both are showing signs of fatigue, but that may not mean a decline is approaching. Based on sentiment and breadth, I don't think we are going to see anything of importance on the downside in the short term.

    Breadth remains positive, but its parabolic rise has tempered for the time being.

    The options flipped bullish for Monday. NAAIM is bullish, though there may still be some weakness over the next day or two based on their increased bullishness from Thursday's survey. I doubt it will amount to much even if we get some. TSP Talk remains pretty bulled up.

    There certainly doesn't seem to be much concern for selling pressure. That's complacency, but that could linger for some time, so we can't rely on that as a surgical indicator.

    I'm looking for more sideways to up action next week.

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  11. #6702

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    Default Re: coolhand's Account Talk

    As always, much appreciated 👍🏻

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  13. #6703

    Default Re: coolhand's Account Talk

    I second that.

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  15. #6704

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    Default Re: coolhand's Account Talk

    Monday saw some immediate selling pressure, which I suspected we would see, but as I also suspected it didn't last long as those initial losses were largely retraced. While the C and S funds did close negative on the day, the S fund had another gain (and all-time high). Judging by Tuesday's futures, the market is in for another downside shot at the bell. Can the market remain resilient?

    SPX.jpg
    DWCPF.jpg

    Breadth closed higher on Monday and remains quite bullish. My intermediate term system is still positive, but looking somewhat toppy. The options are neutral for today.

    Both charts look bullish. Momentum is falling on the S&P 500, but not on the DWCPF. I suspect that the market is going to continue to remain resilient as the bears try to turn it, but trade tariffs could eventually top the market. I cannot predict with accuracy how this plays out, but I am not a long term bull. For the short term, it's best to continue buying dips.

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S&P 500 (C Fund)
S&P 500 INDEX,RTH (^GSPC)
DWCPF (S Fund)
Dow Jones U.S. Completion Total Stock Market Index (^DWCPF)
EFA (I Fund)
iShares MSCI EAFE Index (EFA)
AGG (F Fund)
iShares Lehman Aggregate Bond (AGG)
Source: https://finance.google.com/finance