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  1. Battle at Resistance - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    We got another test at resistance (50 dma) today.

    lkatteng Account-s-p-500-png
    lkatteng Account-dwcpf-png

    Early on in the trading day it appeared the bulls might have a great day and successful test. Instead, they had an okay day and a tentatively successful test as the bears managed to push price back down in afternoon trade. Price closed above the 50 dma on both charts. The problem is it did so only marginally. This is not a convincing test and only shows
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  2. TSP Talk: Rally pauses

    Stocks chopped around on Tuesday digesting the recent large gains over the last few days as the some of the charts deal with some overhead resistance. The Dow lost 131-points, well of the morning highs, and off the late morning lows. There is some mending that can be done to those charts to fill open gaps and test moving averages. All in all, it wasn't a good day, but not a terrible day either, and a little back and forth wouldn't be a bad thing as the indices try to build a base off the recent ...
  3. Looking For Another Test of Resistance - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    Price got rejected at resistance today on the S&P 500, but found support on the DWCPF.

    Counting on a Bush Fire-s-p-500-png
    Counting on a Bush Fire-dwcpf-png

    I won't make too much of it because price didn't move all that much. A retest should be expected.

    Counting on a Bush Fire-nyad-png

    Breadth dipped back under the shown averages and is now technically bearish.

    The battle continues. I remain neutral.
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  4. TSP Talk: Follow-through

    Stocks followed through yesterday on last week's positive reversal. The Dow gained 410-points and the S&P 500 has now added 105-points in the last two trading days. The action kind of smells like a bottom for this pullback, but there is a little more work to be done to get past resistance. And once we get past the first few days of October, the election year seasonality picture gets more murky.

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  5. Test at the 50 dma in Progress - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    The bulls had their way with the market today, tacking on significant gains that has price now testing the 50 dma.

    Market Talk-s-p-500-png
    Market Talk-dwcpf-png

    We can see that price closed right on the 50 dma on the S&P 500 and just above it on the DWCPF. What we need to see is a continued push past that average (not necessarily in the short term) to help firm it up as support. Note that resistance at the 3500 area of the S&P (February peak) is
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SPY (C Fund) (delayed)

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DWCPF (S Fund) (delayed)

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EFA (I Fund) (delayed)

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BND (F Fund) (delayed)

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