Thread: tsptalk's Market Talk

Originally Posted by tsptalk

The morning is starting out with a fill and spill. The gap was "almost" filled and then it started to pullback. Getting some resistance at the top of a gap is not uncommon, but will it last?

OK, the "almost" is now a fully filled gap. That was a nice comeback from the early push back mentioned above. Now the tough part begins and which direction it turns now may tell the short-term future. New highs or resistance at the top of the gap?

I like slim but he doesn't post often, I think tomorrow might be a good day to go 100% G, we will see.

The S&P is again struggling as it reaches for the new highs. It's early but the buyers don't seem too eager yet. That could change since we've had 3 big up days in a row and some profit taking is expected.



The small caps are stalling so far this morning (10:17 AM ET) at the the descending resistance line and trying to hold above the 50-day EMA.

Originally Posted by nnuut

I like slim but he doesn't post often, I think tomorrow might be a good day to go 100% G, we will see.

S Fund is in the GREEN I might stick it out, still have 2 IFTs.

It's trying... It did a nice job of holding the 50-day EMA. Just needs a nudge from here...

A promising start for the small caps this morning as it has broken it's downtrend. Holding that breakout into the close would be big.




The Transports are up nicely today too, but no breakout yet and still below the 50-day EMA...

Originally Posted by tsptalk

A promising start for the small caps this morning as it has broken it's downtrend. Holding that breakout into the close would be big.

It's starting to buckle a little with 2.5 hours left to trade today, but remains above the 20 and 50-day EMAs.

Originally Posted by tsptalk

It's starting to buckle a little with 2.5 hours left to trade today, but remains above the 20 and 50-day EMAs.

1207.64.

Not bad, right?

Yeah, it climbed back nicely...

More positive action from the Transports with oil down 5% on the day. It moved above its large bear flag breakdown level, and back above the 50-day EMA.

hmmm... I didn't even notice that open gap created yesterday on the S&P until just now.