The energy sector has broken some support that could be troublesome.
Small caps are cracking a bit, but a strong close above about 1415 could change that...
New high in the S&P 500 (C) this morning, small caps (S) are flat, the I-fund is up moderately with the dollar down, and the Transports are down fairly sharply.
The yield on the 10-year Treasury broke below a bear flag, pushing up bond prices (F).
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The energy sector has broken some support that could be troublesome.
Small caps are cracking a bit, but a strong close above about 1415 could change that...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The 20-day EMA was taken out this morning, but it's early and we've seen crazy reversals lately. So far this is nothing, as far as a dip below recent highs, but the open gap near 2835 is still out there as a potential target if this pullback is going to continue.
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
We're seeing some buying after this morning's plunge below the 50-day EMA, but it is battling back.
This is why the 50-day EMA is so important. Once broken it can become the resistance...
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Two birds with one stone...
The open gap from March was filled this morning, and now this reversal up filled this morning's gap - that can't even be seen now but was between the open near 2860 and yesterday's low of 2873. Now what?
There is still a very small open gap down near 2740.
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Interesting... Here it is again at the top of the old inverted H&S pattern. That's a perfect place for support after a breakout... but if that doesn't hold, we have some trouble. Of course the 200-day EMA is also always a possible target on pullbacks like this.
Tom
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Bonds are rallying as the 10-year Treasury yield is still trending lower...
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The 10-year yield is at 2.382% right now, up off the morning lows after bouncing off the March low. A breakdown would put it to levels not seen since 2017, but there's a long way to go before it hits the 2016 lows. Just an interesting look. I had forgotten they had gotten so low, and the chart looks bearish, making the F-fund a possible good play in the coming months if someone doesn't like stocks right now.
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The battle lines are drawn...
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
It's still early but the bulls are winning the 50/100 EMA battle that I talked about in Thursday's commentary. The bear flag is now history - IF this rally holds into the close.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Also, bond yields are bouncing off the double bottom, so bonds are off their highs this morning.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Small caps are trying to hold onto that 200-day EMA, and so far showing a little more relative strength compared to large caps after last week's big lag.
The 10-year yield is moving higher again, so we are seeing the support holding and getting a double bottom bounce, plus a mini break above short-term resistance line, but this is an oversold bounce so far and possibly just a small breather for bond prices.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
S&P500 (C Fund) (delayed) (Stockcharts.com Real-time) |
DWCPF (S Fund) (delayed) (Stockcharts.com Real-time) |
EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
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