Thread: tsptalk's Market Talk

Originally Posted by tsptalk

I hope I'm wrong, but I'm concerned that the low and semi-reversal today came a little too early and the bears may make another attempt to push the indices to their lows again before the close.

Was anyone puking this morning?

That would be a good sign. If not, we may get there later.

Honestly I think the downtrend has been established and we're in 'sell the rip' territory. Something about this market as a whole seems a lot worse than that correction in February, maybe the big one's finally here? We were overdue for a bear market afterall.

To me, the concerning thing is literally no market sector I've looked at appears bullish to me.

An interesting push lower so no upside follow-through yet to yesterday's positive reversal. The weak close on Tuesday seems to be controlling the momentum to start the day.

The VIX has peaked at 23 this morning (obviously it could go higher) but that well off yesterday's reading near 25. If it can stay contained below 23, I would expect the S&P to stabilize today as well.




I would have preferred to see the S&P hold above the prior low (red line) but the break below it this morning was quick and so far reversed.

Has the S&P made an "h" pattern?

The bear market is back.

Originally Posted by nnuut

Has the S&P made an "h" pattern?

Yeah, those "h" formations have become double bottoms in the past in this bull market so this is a test.

Maybe James is right. The bear is certainly poking its head into the indicators right now. The red line below must hold!

Originally Posted by tsptalk

I hope I'm wrong, but I'm concerned that the low and semi-reversal today came a little too early and the bears may make another attempt to push the indices to their lows again before the close.

Yesterday I though the reversal started a little early and that caused the rally to run out of steam late.

Today we just hit new lows and there's about 90 minutes left in the day. I don't know if it will happen, but it's not too early today for the bulls to try another reversal that might stick.

Today's power hour is going to be interesting. Semiconductors and Biotech got absolutely slammed today. Financials are showing a little bit of fight, but still down pretty good.

Originally Posted by tsptalk

Yesterday I though the reversal started a little early and that caused the rally to run out of steam late.

Today we just hit new lows and there's about 90 minutes left in the day. I don't know if it will happen, but it's not too early today for the bulls to try another reversal that might stick.

Nope... new lows instead. They have an hour to make a move but I would rather not have seen new intraday lows. Financials too.

Crazy stuff. So do you think we're in a bear market now? Or still too early to tell? Looks like the markets are partying like it's 2008

My bear market indicators are flashing but it's a weekly reading that could change before the week is up. But if we closed at the end of the here, I'd say it's a bear and we need to become sellers of rallies or at least take a different approach. But it's not official yet.

Microsoft had a huge earnings beat, and is still down. Not sure what exactly happened with AMD's report but it couldn't have been good. -25% holy cow. I think at this rate the market doesn't care about earnings beats, it wants to go down.

Tesla is looking good AH but I don't know how long that's gonna last.