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  1. TSP Talk: 50-day EMA holds as resistance

    Volatility is back and September's reputation remains intact as the bears took control again after a day and a half of rebounding. The Dow lost 525-points, or 1.9% while the Nasdaq and small caps lagged with losses near 3%. After a positive open, the S&P 500 hit the 50-day EMA and reversed back down, and that may be a troublesome development with yesterday being the 4th straight day that the index closed below the 50-day EMA.

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  2. Where are the Bulls? Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    The technical picture got more bearish today as the bears hammered price lower.

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

    It's looking more likely that the 200 dma is going to get tested. Momentum is negative. The market is not oversold (just an observation).

    Counting on a Bush Fire-nyad-png

    Breadth fell along with price. It remains a bearish indicator.

    Today's action was decidedly bearish. The market
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  3. TSP Talk: Dead cat bounce or is the low in?

    Stocks bounced back on Tuesday after the positive reversal day on Monday, so the action was typical, but the question of course is whether this cements in a low for this recent pullback, or if the market is just rebounding to fill in some open gaps on the chart, and / or if new overhead resistance will keep the downtrend alive. The Dow ended the day up 140-points and there was green almost across the board, and that ended a 4-day losing streak for the S&P 500.

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  4. 50 dma Needs to be Retaken - Posted by Coolhand

    Quote Originally Posted by coolhand View Post
    The bulls fought back on lighter volume to close with a gain today.

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

    The 50 dma was not retaken, but it isn't far under that key average. It's possible it may act as resistance given price has been below that average for 3 days now (on the S&P 500).

    Market Talk-nyad-png

    Breadth ticked higher, but remains bearish.

    We're just going to have to see if
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  5. TSP Talk: Breakdown

    Stocks gapped open lower on Monday. I often say that we can't always trust Monday morning gaps, especially the ones on the downside, but yesterday's morning's selling and lack of dip buying in that first hour of trading made the sell-off look pretty serious. The fact that the losses were still fairly stiff into the close in most indices, despite the reversal, is a tell that this was not one of those gaps to dismiss. The Dow lost 510-points, well off the lows like so many indices, but the charts ...
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