Thread: tsptalk's Market Talk

Dow jumps after Trump says China wants to make trade deal

https://www.cnbc.com/2018/11/16/dow-...rade-deal.html

The swings are amazing so far today.

Uh, oh! HYG at the lows again...

Gap down open is trying to crawl back to fill that open gap, but so far it has only gotten to the lows from last Thursday. It's early, but I thought it was interesting that the morning rebound stalled there - so far. But it's early.

Transportation & Financials are looking really nasty right now

The Transports were one of the last charts to look semi-decent too.

I see yields are trying to reverse up from the lows of the day, and the 10-year looks to be testing interesting resistance. If that support holds the financials may stabilize, but at this point everything seems to be going down with the ship.

The rebound has basically filled the gap (there may be another point or two in there) and hit the descending resistance, which may be why it has stalled. That doesn't mean it won't break above it, but the bears are making their presence known in this area.

FYI, the open gap on the S&P would be fully filled at 2,681.09. Today's high is 2,680.93. Anyone got 16 cents they can borrow?

Originally Posted by tsptalk

The rebound has basically filled the gap (there may be another point or two in there) and hit the descending resistance, which may be why it has stalled. That doesn't mean it won't break above it, but the bears are making their presence known in this area.

Originally Posted by tsptalk

FYI, the open gap on the S&P would be fully filled at 2,681.09. Today's high is 2,680.93. Anyone got 16 cents they can borrow?

Thank you!

Follow-up... Support still holding on 10-year Treasury yield, although it does look bear "flaggy".

Originally Posted by tsptalk

I see yields are trying to reverse up from the lows of the day, and the 10-year looks to be testing interesting resistance. If that support holds the financials may stabilize, but at this point everything seems to be going down with the ship.

What to make of AGG also ripping upwards? I thought it would tank with today's big up move.