Thread: tsptalk's Market Talk

Pre-markets had a strong session, up 10-25 points

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Yet another test this morning for the Nasdaq 100 (QQQ) at the 200-day EMA...

There is a large gap there that may need to get filled, but this looks like a significant breakout for the high yield bonds, after several prior breaks above other resistance. This may be a very bullish indicator for stocks. We'll see how it survives the Fed next week.

I hope Birchtree is watching from afar in his retirement. He lived for this type of action - irrational exuberance.

I don't know exactly how closely this End Of Day daily chart of WTI Oil corresponds with the open active futures prices, but I see crude futures trading below $37 right now. A possible break down of the rising channel if it holds. A healthy pullback would find support at the 50-day EMA, but how will stocks react?

Oil just ticked below $36. Healthy pause or end of a bear market rally?

I think oil will test the 35.50 level and stay in a range of $35 to $40. If it does then I think the market will go higher into mid-April. This would coincide with the election chart that was posted. I've had pretty good luck following the chart over the last month. We will have a clear direction soon.

AGG and Gold just spiked big time.. hmmm...

edit: and the SPX also. something's a brewing haha. People hedging bets before the fed meeting? sounds like risky business, like buying stocks before earnings report

Originally Posted by sniper

AGG and Gold just spiked big time.. hmmm...

edit: and the SPX also. something's a brewing haha. People hedging bets before the fed meeting? sounds like risky business, like buying stocks before earnings report

unless you know what's in the earnings report...

If this can hold up here above the 200 EMA, it's a very good development.

The SPY did this a few days ago, but the S%P 500 Index itself has now filled its open gap from the first trading day in January.