The Dow just made a new all-time high this morning, and the Transports may be breaking out from their descending channel. It's early, so let's see where they close.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
It has more catching up to do.
Allocations as of COB Dec 28 : 100% S. | Retirement Date:Dec 2025
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Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
This breakout in the dollar is probably not a good sign for the I-fund.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Two important breakouts from bull flags this morning...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
From Monday's commentary:
"One of the more import charts is this weekly chart of the Transports. It looks like a very large inverted head and shoulders pattern, which would produce a very bullish upside target if it can breakout, but inverted H&S patterns can be continuation patterns, continuing the larger trend that it was in before the H&S, which in this case was down. So, it is very important for this market leader to move above 8000 with some authority before we can say this is bullish."
More: TSP Talk - Market Commentary
http://www.tsptalk.com/mb/blogs/tspt...new-highs.html
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The early action on Monday has the SPY testing the bottom of its "F" flag, that we talked about in Monday's commentary.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
McDonald's has been a drag on the Dow but small caps and the Transports have been doing well. The Nasdaq 100 made a brief new high this morning but has since pulled back to flat. The current candlestick is a little "toppy" so how the QQQ closes, and what kind of candlestick is created, could determine the next short-term move.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The Nasdaq is up on the Apple earnings but the other major indices are struggling this morning in front of this afternoon's Fed policy statement.
But the flags / bases are still intact...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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