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Thread: tsptalk's Market Talk

  1. #3421

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by tsptalk View Post
    Quick trip to the bottom of the bear flag. Big gap overhead, however.
    Dreamer... it could take months to fill that gap... or days
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  3. #3422

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by tsptalk View Post
    Quick trip to the bottom of the bear flag. Big gap overhead, however.
    Quote Originally Posted by RealMoneyIssues View Post
    Dreamer... it could take months to fill that gap... or days
    Or fill the same day.

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  5. #3423

    Default Re: tsptalk's Market Talk

    Boy, this chart got ugly in a hurry. I suppose that means it can improve just as quickly, but the downside target for this broken bear flag would be in the 9300, to as low as 8600, range.


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  7. #3424

    Join Date
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    Default Re: tsptalk's Market Talk

    You know the market is crazy when it's moving 2% a day and you're like 'that's normal'
    I trade based on volume + price action. Price action alone only tells half the story.

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  9. #3425

    Default Re: tsptalk's Market Talk

    That's true, and why sometimes we need the type of day that makes investors say "get me out at any price!" It doesn't feel like we're there yet.

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  11. #3426

    Join Date
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    Default Re: tsptalk's Market Talk

    Quote Originally Posted by tsptalk View Post
    Boy, this chart got ugly in a hurry.

    Just remember- BEAUTY is in the eye of the beholder.


    Now, I keep thinking that SOMEBODY loves an ugly mutt too.....


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  13. #3427

    Default Re: tsptalk's Market Talk

    Wow, that looks a lot like my dog... without the tongue thing.




    "wire haired" terrier.

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  15. #3428

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    Default Re: tsptalk's Market Talk

    I'm thinking the next solid support level in the S&P 500 is down around 2550.

    Today's action shows there isn't a lot of support here- just slipperyness.

    No Santa rally in sight.

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  17. #3429

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by James48843 View Post
    I'm thinking the next solid support level in the S&P 500 is down around 2550.

    Today's action shows there isn't a lot of support here- just slipperyness.

    No Santa rally in sight.
    February lows are definitely in play if we get a below the more recent lows. We are not oversold via RSI so I don’t think time yet for a bounce
    50% G 50% C
    RSI - Relative Strength Indicator DMA - day moving average


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  19. #3430

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by James48843 View Post
    Just remember- BEAUTY is in the eye of the beholder.


    Now, I keep thinking that SOMEBODY loves an ugly mutt too.....
    Hey, leave the pooches outta this, they love us and you know how WE look....

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  21. #3431

    Default Re: tsptalk's Market Talk

    Futures down again tonight. The S&P will probably test 2603 soon but I'm guessing on the February lows 2532 will get tested. Thats a good drop from here. I am considering trading in RWM (inverse Russell 2000) as it has already broken recent lows. I've not traded what is basically a short trade. Its a little scary but I think its a good trade for Monday depending on how much we are down at the open. I need to figure out a good entry price. Any thoughts?
    50% G 50% C
    RSI - Relative Strength Indicator DMA - day moving average

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  23. #3432

    Default Re: tsptalk's Market Talk

    I think if it closes below the bear flags then expect the bears to keep the pressure on for at least a couple / few more days. Otherwise if it can reverse a bear flag breakdown and close above support, that will be a good sign that it's over.

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