Thread: tsptalk's Market Talk

The S&P is balking at the first layer of resistance here. It's not unusual to stall on the first attempt at resistance as some traders take profits. But let's see where it closes.




The I-fund could be under some pressure today with the dollar up 0.43% at the moment...

What the market likes to day...

We saw a strong ADP jobs number this morning.

Oil is rallying again, and above some key levels...




The Transports like the price of oil rising and is now back above the 50-day EMA early today...




And the financials are getting a pop, up 1.2%...

Originally Posted by tsptalk

What the market likes to day...

What the market didn't like...

The FOMC Minutes and Paul Ryan.

The indices are dancing above and below those key moving averages again today.

The Transports are currently above the 50-day EMA, which is a big plus, but there's a long way to go today.




The S&P is still clinging to the 20-day EMA but has stubbornly remained above the 50 day EMA (exponentiation) and 50-day SMA (simple).

Two charts barely hanging on, and testing major support today...

the 1185 area on the small caps seems to be the key...




The battle in the Transports is still between the F-flag (red), which is getting "F"d today, and the bull flag (blue), which it is testing the lower end at the moment...

Strangely enough, small caps have been struggling to arrive at or past the "1190" mark. Such resemble a tiny roller coaster ride.

As we anticipated in Thursday's commentary, we saw strong earnings out of Citigroup and JP Morgan this morning and the financials are up modestly, leading the market, but you can see it has some work to do to get out of its downtrend. There's some support at 23.0 but those "h" formation are buggers.




JP Morgan: http://www.cnbc.com/2017/04/13/jpmor...s-q1-2017.html

Citigroup: http://www.cnbc.com/2017/04/13/citig...s-q1-2017.html

Both the C and S funds are struggling to break those downtrends. The C fund (SPY) is still above the 50-day EMA while the small caps (dwcpf) are below for a 4th day. That would be a bit worrisome if it closes down there again today.

The early action shows the Dow being held back by the weakness in IBM. I thought this could also put pressure on the Nasdaq but I guess IBM isn't the leading tech company it once was.






The S&P is having a decent morning but the 20-day EMA acting as resistance so far.




The small caps jumped above the 20 and 50-day EMA so a close up here would be big. But there is still resistance to deal with...




The High Yield Corporate Bond Fund seems to have broken to the upside of that bull flag. Good sign.




TSP Talk - Market Commentary

Originally Posted by tsptalk

The early action shows the Dow being held back by the weakness in IBM. I thought this could also put pressure on the Nasdaq but I guess IBM isn't the leading tech company it once was...

Tom- is the 50 day still as important as it once was...i hope SPY breaks/holds above it today...

Originally Posted by shitepoke

Tom- is the 50 day still as important as it once was...i hope SPY breaks/holds above it today...

Sure. Traders and investors are still looking at it so it becomes a self-fulfilling prophesy at the least.

It may not be as important on an index like the DWCPF because it is not a highly followed index.