Thread: tsptalk's Market Talk

Looks to me like investors made their decision on which way the market is going to go at 4pm today.

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Originally Posted by kb9nvh

Looks to me like investors made their decision on which way the market is going to go at 4pm today.

Yep, and Amazon is helping them after hours.

C and S funds testing their 50-day EMAs...

Tom,

Do we have any old gaps from couple months ago? I seem to recall that we still do and I think I see one on the SPX back in early December? If so, are they still relevant? I thought all gaps get filled sooner or later.

Good call, genod. It's time to start looking for potential downside targets...

OK, good to know. That October gap is around an 8.5% drop from yesterday's close.

The S-fund small / mid cap index is getting a bounce off the 50-day EMA. Unfortunately the Russell 2000 small caps index is below it and struggling to get back above it today so far.

Stocks are rock'in today, and I think the window may be open for more gains IF the 10-year continues to hold above 1.5%, and up until it hits that 1.7 to 1.75% area where open gaps, the 50-day EMA, and resistance lines are coming together.

90-day / 10-year yield curve steepens (no longer inverted.)

Russell 2000 recaptures key 50-day EMA...

Looks like a pivotal day for the Transports. It gapped up above the 50-day EMA and the descending channel's resistance line, but is losing steam off the highs and trying to hold the breakouts.