Thread: tsptalk's Market Talk

There's a very clear bull flag on the Russell 2000 small cap chart. They tend to break to the upside, and we saw that happen in May, but it was short-lived as it rolled over shortly after the breakout.

Bespoke @bespokeinvest


SPY is currently on pace for its narrowest intraday high-low range since last September while QQQ is on pace for its narrowest range since December 2017.

I'm digging the consolidation in the Russell 2000 and the fact that it's holding above those key moving averages, but breaking the rising channel is a red flag.

The trend continues today. Although the Nasdaq is at all-time highs, currently today there are only 88 Nasdaq stocks making new 52-week highs, while surprisingly 81 are making new 52-week lows. In the prior two days the new lows outnumbered the new highs. Seems very odd.

Small caps just broke out of that bull flag. That's a nice looking move, but there's still some overhear resistance.

Boy, small caps have sure had a mind of their own recently. The major indices haven't been moving together consistently lately.

Another tariff tantrum after Trump tweets US adding more tariffs on China...




The 50-day EMA gets tested for a second time...

Originally Posted by tsptalk

Another tariff tantrum after Trump tweets US adding more tariffs on China...




The 50-day EMA gets tested for a second time...

What's that saying "Don't fight the Fed" Guess that depends on who you are.

That tariff tweet took a nice bite out of TSP.

A little bit of panic regarding the 10-year yield moving down near 1.6%. CNBC is talking about it going negative like Germany.

The S&P meanwhile is trying to hold the 200-day EMA again, and it initially got a pretty good move back above it. It's very early in the trading day, but that looks to be the key today.

2-year vs. 10-year yield curve is now near 0.09. This chart only gets updated EOD so I added the move...