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Thread: tsptalk's Market Talk

  1. #3037

    Default Re: tsptalk's Market Talk

    It didn't wait for the Fed...

    Quote Originally Posted by tsptalk View Post
    Technically, the financials are looking very interesting. We have a bull flag and a large cup and handle formed. Does this mean yields are getting ready to rise (bonds prices falling)? This week's FOMC meeting could be the catalyst.



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  3. #3038

    Default Re: tsptalk's Market Talk

    So much for the Nasdaq rally triggered by Apple's earnings. This [15-minute chart] is the Nasdaq 100 futures just after the earnings report...




    And this is what's happened since...


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  5. #3039

    Default Re: tsptalk's Market Talk

    HYG hanging precariously... Held prior 2 tests.


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  7. #3040

    Default Re: tsptalk's Market Talk

    Some interesting action in early trading today....







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  9. #3041

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    8,111

    Default Re: tsptalk's Market Talk

    More like nauseating.
    May the force be with us.

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  11. #3042

    Default Re: tsptalk's Market Talk


    It will be an interesting close today as the SPY floats above the 50-day EMA and below the old rising support line....




    The dollar is slipping again causing small caps to lag.

    I'd actually be surprised if the current gains hold as we head into the weekend with the current geopolitical chaos. I'd suspect some late selling, but that may seem to obvious, so maybe I will be surprised.


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  13. #3043

    Default Re: tsptalk's Market Talk

    The dollar is getting pop today, making its first higher high in a while. There are several open gaps overhead that may need attention.

    I'm surprised to see the small caps under performing with the dollar up today, but I guess there were some profits to be had in the Russell 2K after Monday's big rally.

    Dollar ETF...




    15-minute chart of dollar futures...


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  15. #3044

    Default Re: tsptalk's Market Talk

    Nice development in the Transports as the old bear flag, which originally broke down but found support and created a "W" double bottom, has now broken to the upside, so if it closes up there, I'd say the bear flag is history. This would be day 3 above the 50-day EMA... if it holds into the close.


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  17. #3045

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by tsptalk View Post
    Nice development in the Transports as the old bear flag, which originally broke down but found support and created a "W" double bottom, has now broken to the upside, so if it closes up there, I'd say the bear flag is history. This would be day 3 above the 50-day EMA... if it holds into the close.
    We saw the 3 closes above the 50-day EMA, but the bear flag is still in play after the failed breakout of the flag.


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  19. #3046

    Default Re: tsptalk's Market Talk

    Today's pullback is trying to fill the open gap from Monday. Will the bottom of the gap and that intermediate-term rising support hold?


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  21. #3047

    Default Re: tsptalk's Market Talk

    The credit markets have been a bright spot for the bull market and the HYG seems to be geting a little support here, but it's looking more like a bearish head and shoulders pattern so we'll we'll see if we get a larger right shoulder, if it makes new highs, or breaks down from here, first.


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  23. #3048

    Default Re: tsptalk's Market Talk

    The dollar may be breaking down from the bear flag we've talked about in the commentary...

    http://www.tsptalk.com/mb/blogs/tspt...ng-tested.html


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