Thread: tsptalk's Market Talk

Originally Posted by jkenjohnson

Is today a dead cat bounce or the start of a new wave up?

Hoping for that new wave North.

Frank

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Originally Posted by Lakebound

Hoping for that new wave North.

Frank

Sent from my XT1080 using Tapatalk

Don't get too excited. The S does not look very strong.

The buying has been relentless for the last 6 hours, and I'll be interested to see what kind of final trading volume numbers we we get. The more, the merrier. Low volume would be more suspect. One very small gap has been filled, and there is another at 207.66, above the short-term descending resistance line. Also, a close above Friday's high would be a positive outside reversal day.

The open gap on SPY seems to be an irresistible attraction today...

I'm surprised stocks are holding up with crude oil near lows of the day...

FOMC Meeting minutes will be released at 2 PM ET today.

OK, the gap was filled. Now what? Was that resistance or does it continue higher.

That gap was my target to get out! I didn't think we would fill it so fast. It's hard to complain, but the low volume isn't very convincing. Maybe I'll stick around for awhile and see how long we hold above the 20 day EMA.

Originally Posted by tsptalk

OK, the gap was filled. Now what? Was that resistance or does it continue higher.

Tom, is that a head and shoulder forming on SPY??

I'm not seeing it on the daily chart... yet.

Yet another test of the 200-day EMA for the Transports. If you keep knock'in eventually someone is going to let you in. Can it possibly be swatted back again?