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Thread: tsptalk's Market Talk

  1. #3709

    Default Re: tsptalk's Market Talk

    Today is one of those rare "weird" S-fund days were the Russell 2000 small cap index is up nicely, the S&P is flat, but the midcaps within the fund are taking the S-fund down.


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  3. #3710

    Default Re: tsptalk's Market Talk

    A little break in the recent rising trend (in the S&P anyway, but below 50-EMA in S-fund). Is the open gap finally going to be addressed?

    This added midday sell-off has to do with Boeing, which is a major Dow component, but obviously not as big of a factor in the small caps or S&P for that matter, so it may be overdone this morning. Still investors are using it for an opportunity to sell, and technicians may be hoping it's a chance to get that gap filled. But they may want to be quick because news like this can be fleeting on the downside.




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  5. #3711

    Default Re: tsptalk's Market Talk

    The Transports are having another good day so far, and filled another open gap just below the September highs. The bad news is that the only gap left open on this chart is now down near 10,200. There was a similar gap in September that was filled about 4 weeks later. The question is whether this one has to get filled. Normally yes, although it doesn't necessarily have to make beeline right there. A failed breakout above 10,800 would probably bring it on.


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  7. #3712

    Default Re: tsptalk's Market Talk

    The small caps (S-fund) are lagging but so far they dip has filled the small open gap from Monday and held...


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  9. #3713

    Default Re: tsptalk's Market Talk

    The Nasdaq is backing off of the early highs after retesting the descending resistance line...


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  11. #3714

    Default Re: tsptalk's Market Talk

    The stock market may need HYG (Corp. bonds) to breakout before it can continue to advance...


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  13. #3715

    Default Re: tsptalk's Market Talk

    Hmmm, bonds and gold (the safety trades) are up again, yet stocks refuse to fall. There's still some overhead resistance in these, but they are being pushed to the limits.

    As I mentioned in today's commentary, I think something is going to have to give. Bonds, gold and stocks are all trying to rally together the last couple of days, and I'm no so sure they can or will all do that.






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  15. #3716

    Join Date
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    3,628

    Default Re: tsptalk's Market Talk

    Definitely Agree …..Somethings gotta give! eeeeekkk.
    Thank you for pointing this out Tom!
    CURRENT: 1-14-2020 - G15-C30-S30-I25 // PRIOR: 12/30/19=100% // 12-16-19= G20, S40, C40 //11-25-19= 25G, 25F, 25C, 25-I // Chart Links=Page 215, #2575 & 2576

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  17. #3717

    Default Re: tsptalk's Market Talk

    So many sectors / indices on the brink... Financials flirting...



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  19. #3718

    Default Re: tsptalk's Market Talk

    Quote Originally Posted by tsptalk View Post
    So many sectors / indices on the brink... Financials flirting...
    Financials are making a new high... now S&P on the brink... The close matters, though.


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  21. #3719

    Default Re: tsptalk's Market Talk

    The Transports are now testing the recent highs. Not 52-week highs, but an attempt at a triple top breakout.




    And longer-term, it is breaking above the descending resistance line...


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  23. #3720

    Default Re: tsptalk's Market Talk

    There's a lot of positive technical things happening out there for stocks so I won't post the charts of the many breakouts in the indices and breakdown in bonds, but the Transports are a little concerning with it failing so far. If it closes above that red resistance line, that will be a small victory, but the bulls do not want to see this close below it. It's close right now.


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