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  1. Bull's Making Progress, but Resistance is Overhead - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    The bulls kept the rally going today, posting solid gains by the close.

    The Dollar-s-p-500-png
    The Dollar-dwcpf-png

    Price on both charts continues to put the 200 dma further in the rear view mirror, but potential resistance looms not far above. The goods news is that price has broken above the medium term range, so now its the previous peak made in June that needs to be tested and hopefully broken to the upside. Volume remains on the light side,
    ...
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  2. TSP Talk: Jobs report triggers rally, but some late profit taking

    Stocks were up on Thursday following a strong jobs report, but the big early gains didn't hold and we saw just modest gains into the close. The Dow gained 92-points, far short of the near 500-points it was up near the opening bell. The question is whether the selling wad due to technical reasons, as you'll see in the charts below, or if it was just nerves heading into the long holiday weekend as coronavirus cases mount.

    ...
  3. TSP Talk Weekly Wrap Up

    Technical analysis is more psychological/sociological speculation on investors than an exact science of chart patterns. An index lets us (everybody) observe where others were willing to buy and sell in the past. Everybody wants a discount on what they think is the true value of stocks. The stock price at the end of the previous Friday and into Monday was a price buyers knew they could find a safe discounted entry. The highs Thursday morning was where sellers thought they could get their best price ...
  4. Back to the Top of the Short Term Range - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    The bulls had a good week as we head into the long holiday weekend.

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

    Price is back to the top of the trading range on the S&P, while a bit under it on the DWCPF. Volume was underwhelming.

    Market Talk-nyad-png

    Breadth ticked higher and remains bullish.

    As I pointed out in my previous post today, NAAIM got less bullish, but not by a lot. Overall, they
    ...

    Updated 07-02-2020 at 06:24 PM by coolhand

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  5. June Jobs Report +4.8 million, 11.1 pct. Unemployment

    Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

    Nonfarm payrolls rose by 4.8 million in June, much better than the expected increase of 2.9 million.

    The unemployment rate fell to a crisis low of 11.1%, also better than the 12.4% estimate.
    CNBC: https://www.cnbc.com/2020/07/02/jobs...june-2020.html
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