Thread: tsptalk's Market Talk

I hadn't even noticed that small open gap until I just zoomed in this morning...

10-year Treasury yield is down again as there is some move to safety (bonds) today because of the weakness in stocks. But that looks like a bull flag. The question is whether that open gap gets filled or if the immediate support holds...

The S&P 500 is making an encouraging move above some resistance, including the 50-day EMA, but the close will be key.




The small caps have been even more impressive having broken its short-term resistance line and 50-day EMA last week, but it's now up against some longer-term resistance.

The Transports had a good morning but it has so far failed at breaking out above the 50-day EMA and descending resistance line. It needs a strong close or else it may be testing the 200-day EMA again soon.

Encouraging early action in the S&P, small caps, and Transports.

Shhh

Originally Posted by tsptalk

Encouraging early action in the S&P, small caps, and Transports.

There goes the 10-year yield and it looks like it does matter as stocks struggle this morning...

The S&P is off the lows but it didn;t fill the open gap near 2700 yet. It also opened another gap near 2725 in the process...

Originally Posted by tsptalk

The S&P is off the lows but it didn't fill the open gap near 2700 yet. It also opened another gap near 2725 in the process...

Filled...

Tracking the gaps... Today's rally is trying to fill Tuesday's gap. Last week's gap was filled yesterday. Monday's highs got in, but didn't quite fill the gap from last March.

Red gaps are open or partially open. Blue gaps are filled.

Originally Posted by tsptalk

Tracking the gaps... Today's rally is trying to fill Tuesday's gap. Last week's gap was filled yesterday. Monday's highs got in, but didn't quite fill the gap from last March.

Red gaps are open or partially open. Blue gaps are filled.

Yesterday's gap is now officially filled. Will that act as resistance?