It didn't seem to hurt in the market 2013, but theoretically, a guaranteed 3% return could be a draw for some investors.
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Still possible, and it sure looks like one, but no breakout yet. Something tells me Monday will be a big day -- just don't know if it will be up or down. :)
http://www.tsptalk.com/images/mb/022318a.gif
Yup, that was a classic bull flag breakout. Very impressive considering those 4 consecutive negative reversal days heading up to last Friday.
Nice intraday bounce, but here comes the last hour.
The Dow is still lagging, down 180+, but the S&P is flat and small caps are showing strong relative strength.
I am hardly ever surprised when the market does the opposite of the obvious, so heading into the weekend we might expect some selling, so maybe we should expect the opposite? :sick:
The opposite: https://www.youtube.com/watch?v=Q40IwQF65a4&t=65s
After a series of more minor economic reports coming in lighter than expected while yields were rising, investors and the market were acting tepidly. Now this strong jobs report, coupled with a non-threatening wage gain, gave the tepid bulls an excuse to buy today.
Historically however, when jobs reports came in 50,000 above or below estimates the ensuing rally or sell-off that came with it, had a tendency to reverse in the coming days. Whether that's the case this time, I don't know. We saw what happened in 2017 where we needed to throw "historically" out the window.
Well, we got the post jobs report reversal, but now it it is testing the 50-day SMA for support. So fat it has, but I don't know if that can hold if that gap remains open. It's a small technicality, but there is still a gap there.
http://www.tsptalk.com/images/mb/031418a.gif
We had a couple of interesting intra-day breakdowns by the S&P and Nasdaq as far as support lines. The S&P 500 is clinging to the 50-day EMA so far, but if that goes, there's not much support below that. Is this the big bear flags starting to break?
http://www.tsptalk.com/images/mb/031918b.gif
http://www.tsptalk.com/images/mb/031918a.gif
Looks like it may be the historical retesting of the low from Feb. If it dips lower and goes on, guessing we are entering a recession.