Thread: tsptalk's Market Talk

I'm keeping an eye on the dollar. If this channel can break to the downside it would better confirm the rally yesterday as far as a bottom being made. If it holds and starts back toward the top of the channel, I think stocks may flip back down and we get another test of the lows.

Stocks just popped in the last several minutes, but before that it has been a little bit of a struggle overall and I can only assume the dollar bouncing off of the bottom of that rising channel has something to do with it. But yes, any rumors or announcement out of G-20 could pop and drop this market quickly on an intraday basis.

The dollar gapped open on the downside Tuesday morning, breaking below the rising channel's support line, but that was the low of the day and it has since crawled its way back in the channel ...

The Transports, which had a major negative reversal day yesterday, has followed through on the downside with conviction (down 3%) and fell back below the 50 and 200-day EMAs.

There's tiny open gap on the S&P 500 between 2,682.53 and 2,684.38.

Originally Posted by tsptalk

There's tiny open gap on the S&P 500 between 2,682.53 and 2,684.38.

Very nice catch Tom; I was wondering if there was any "support" above the red line you drew on today's commentary. Thank you very much for all of these intraday updates. What a day!

A rather bloody day.

It's not anywhere near over yet, either.

I hope it isn't.

Originally Posted by James48843

A rather bloody day.

It's not anywhere near over yet, either.

Quick trip to the bottom of the bear flag. Big gap overhead, however.