Thread: tsptalk's Market Talk

Follow up to quabit's post:

Originally Posted by quabit

Tom isn't there still a gap in the S&P from July just about 2766? Is there possibility for it to be back in play? I know it is still a ways off but the market doesn't like gaps right. Just curious and learning.

Originally Posted by tsptalk

Looks like it... and that gap is now in the neighborhood of the 200-day EMA so it may be looking to kill two birds with one stone, Good call, quabit!

The gap on the S&P has not filled yet. Wouldn't surprise me to see it happen today. Test that 200-day EMA while you're at it, S&P!

Fast forward 5 minutes... Filled.




Gold is up $26.

It hard to keep up... S&P is now testing the 200-day EMA.

Be careful. "V" bottoms are nice, but it's not always that easy. If it is a "V", look for a test of the lows at some point down the road. Otherwise, it could chop up and down a while and wear us out before making a move.

I was curious about the cause of yesterday's drop, and saw a couple of youtube videos about October 10th (posted on Oct 2 or earlier) where conspiracy theorists said the market would crash because of the 'great reset' where the fed pretty much kills the dollar, and bitcoin becomes the world currency lol. I figure if there's enough stock traders / investors (or a couple really wealthy ones) wearing tinfoil hats, perhaps that could have caused enough of a ripple for a quick selloff?

I think it's yields. Bitcoin is actually getting slammed today, but the pop in gold today (+ $32 and at 2 month high) is interesting, however. And the dollar is down, but not sure about the 'reset'. I've heard the theories too.

Originally Posted by tsptalk

I think it's yields. Bitcoin is actually getting slammed today, but the pop in gold today (+ $32 and at 2 month high) is interesting, however. And the dollar is down, but not sure about the 'reset'. I've heard the theories too.

Wonder if that talk was a pump and dump by bitcoin holders haha, conspiracy theorists would be an easy target since they're so gullible.

Right now the bears are selling the rallies, as traders do in down trending markets. This scares out those trying to buy the dips and / or those who held all this time and capitulate ("I give up") and sell.

Clearly we weren't there yet this morning as we saw the seller of rallies show up again. But eventually they run out of bullets. The market rallies and the shorts get hurt and they have to buy back too. And it's over. Then there's the retests, etc., so it's a process and it takes a little time.

There's been some concerns over earnings with interest rates rising so we may be seeing a pre-earnings "sell the rumor" situation. The question is, will we get the "buy the news" when they start rolling out later this month?

I'm thinking that the markets are experiencing their first big tumble since the President took office- and many investors aren't used to seeing a drop like what we had this week, and are confused as to what to do. We have lots of signals and signs that contradict each other, - taxes, tariffs, slowdowns, layoffs, new orders, new trade agreements agreed to, and other trade agreements faltering. All at the same time, leads to confusion, and uncertainty. Toss in a big dip, and people worry. And stocks drop like a rock.

Of course, if I had simply followed the wonderful indicators and programs available on this site, instead of going with my own gut, I wouldn't have lost the $70,000 I lost since last week. But then again, I wouldn't feel so as good about the $hundred bucks and change it costs to subscribe to the premium service available on this website, which , as we all know, would have saved me that $70K loss had I followed it more religiously. :-)


Instead, I went with my gut, and now have been toasted, once again. :-O


Oh well.

Cheers!

Depends on the premium service.

Originally Posted by James48843

I'm thinking that the markets are experiencing their first big tumble since the President took office- and many investors aren't used to seeing a drop like what we had this week, and are confused as to what to do. We have lots of signals and signs that contradict each other, - taxes, tariffs, slowdowns, layoffs, new orders, new trade agreements agreed to, and other trade agreements faltering. All at the same time, leads to confusion, and uncertainty. Toss in a big dip, and people worry. And stocks drop like a rock.

Of course, if I had simply followed the wonderful indicators and programs available on this site, instead of going with my own gut, I wouldn't have lost the $70,000 I lost since last week. But then again, I wouldn't feel so as good about the $hundred bucks and change it costs to subscribe to the premium service available on this website, which , as we all know, would have saved me that $70K loss had I followed it more religiously. :-)


Instead, I went with my gut, and now have been toasted, once again. :-O


Oh well.

Cheers!