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Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Boy, this chart got ugly in a hurry. I suppose that means it can improve just as quickly, but the downside target for this broken bear flag would be in the 9300, to as low as 8600, range.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
You know the market is crazy when it's moving 2% a day and you're like 'that's normal'
That's true, and why sometimes we need the type of day that makes investors say "get me out at any price!" It doesn't feel like we're there yet.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Wow, that looks a lot like my dog... without the tongue thing.
"wire haired" terrier.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I'm thinking the next solid support level in the S&P 500 is down around 2550.
Today's action shows there isn't a lot of support here- just slipperyness.
No Santa rally in sight.
Futures down again tonight. The S&P will probably test 2603 soon but I'm guessing on the February lows 2532 will get tested. Thats a good drop from here. I am considering trading in RWM (inverse Russell 2000) as it has already broken recent lows. I've not traded what is basically a short trade. Its a little scary but I think its a good trade for Monday depending on how much we are down at the open. I need to figure out a good entry price. Any thoughts?
100 G
RSI - Relative Strength Indicator DMA - day moving average
I think if it closes below the bear flags then expect the bears to keep the pressure on for at least a couple / few more days. Otherwise if it can reverse a bear flag breakdown and close above support, that will be a good sign that it's over.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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