Thread: tsptalk's Market Talk

The bond market seems to be getting on the rate hike band wagon.

Back to the top of the range. Either a breakout, or it starts it's journey back to the bottom...

Originally Posted by tsptalk

The markets need another Fed governor to break the tie today.

There can be battles as the market tries to find some footing after a sell off. Not all survive but we saw this a lot in 2015...

The dollar's getting a bounce, but flirting with resistance...

With a few minutes left in the trading day, the S&P is trying to close its open gap, while the Nasdaq is actually making a new high. The Fed says the economy is fine, but will wait on rate hikes. No excuse given. Sounds like a political move and the market likes it, as the Fed expected they would.

S&P gaps filled.

A new open gap (in red - blues are filled) and some possible levels of support...

Tom that looks like a game of pickup-sticks

Well, as I mentioned in Tuesday's commentary, which I wrote before the debate, I expected a "buy the news" reaction to Monday's "sell the rumor" pre-debate sell-off in stocks. I was looking pretty smart after the debate when the Dow futures shot up about 130-points, but I've woken up to that being taken away. They say it may be the price of oil pulling stocks down. I don't know. It's still early and we could still get some of that "buy the news" reaction but some of the steam has been taken out of my theory.

The current market catalyst seems to be Deutsche Bank. Here's a 10-day chart and the reason why stocks were down yesterday and are bouncing back today...

Is this large Head and Shoulders pattern ready to blow yet, or will we see another push-back from the neckline? A breakout target would be about 8600.