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Thread: tsptalk's Market Talk

  1. #3433

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    9,281

    Default Re: tsptalk's Market Talk

    So much for a Santa Rally
    May the force be with us.

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  3. #3434

    Default Re: tsptalk's Market Talk

    We've seen most of the major indices break to new lows this morning, but they are trying to climb back. the close is still key.




    The Nasdaq is outperforming with Apple trying to lead the reversal.

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  5. #3435

    Join Date
    Jul 2012
    Location
    Honolulu, Hawaii
    Posts
    1,675

    Default Re: tsptalk's Market Talk

    Not sure how much of a believer I am in that reversal candle on the S&P, it was all lead by the nasdaq. Financials and small caps made new 52 week lows. Biotech did look decent but that sector seems to just have a mind of its own.
    I trade based on volume + price action. Price action alone only tells half the story.

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  7. #3436

    Default Re: tsptalk's Market Talk

    Strong open! Another trade headline? The bears should try to make an attempt to sell this. Let's see if the bulls have enough to hold on.

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  9. #3437

    Default Re: tsptalk's Market Talk

    Most of the indices have filled the morning's opening gap...




    The lone holdout is the Nasdaq, which is still slightly open...


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  11. #3438

    Default Re: tsptalk's Market Talk

    Stocks are obviously rebounding this morning. They haven't been holding well of late, but they had become very oversold this week. Here's a few things I'm watching today...

    The dollar is dipping helping the situation. The failed breakout could be the catalyst for stocks since the rising dollar has put a lot of pressure on stock prices since late September. Watch the bottom of that channel. If it breaks perhaps we'll get a real rally in stocks that holds.




    The High Yield Corp. bonds are up but nearing the EMAs that have held them back in the recent past. There was a higher low so far this month, so that's a positive.




    The 10-year yield is finding a little support but the 200-day EMA is just overhead and could be resistance, although there is an open gap near 2.98%.



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  13. #3439

    Default Re: tsptalk's Market Talk

    Dow's up nicely, but Nasdaq and small caps are lagging, and breath (adv / dec) is negative. <-- suspicious.

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  15. #3440

    Default Re: tsptalk's Market Talk

    Small caps are outperforming today after lagging badly on Thursday. But notice that it is still below that parallel channel's support line, which may now act as resistance.




    The S&P 500 tested its channel support line again this morning, holding so far. Closing above that level seems to be key for the bulls. A break below on a closing basis, and it could become resistance.


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  17. #3441

    Default Re: tsptalk's Market Talk

    A gap down open has been filled already. The bulls will try to make this early reversal hold, and there was a little support at this morning's low, bit now that the gap is filled, the bear will likely try to make another move down. The battle is on again. The bears have the upper hand as of now, but the bulls may try to make a move some time this week.


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  19. #3442

    Default Re: tsptalk's Market Talk

    The Financials ended last week on a very low note - 52-week lows and a negative reversal day. They opened lower again but are trying to bounce back, but so far it has basically just filled in the between the support and resistance areas.


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