The 50-day EMA was successfully tested in early trading. That tends to happen on the first test (buy limit orders, etc.), but with the gap still open near 2940, I wouldn't be surprised to see another test later today or in the coming days.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The 50-day EMA was successfully tested in early trading. That tends to happen on the first test (buy limit orders, etc.), but with the gap still open near 2940, I wouldn't be surprised to see another test later today or in the coming days.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Looks like the small caps will need a strong close to keep from closing below all of the key moving averages.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Stocks are getting a nice boost on the final trading day in September, but oil is not rallying and the energy sector ETF is still in some technical trouble after the Saudi oi attack pop and drop. The questions is, can stocks rally if oil is not coming along for the ride?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
The 2nd gap was filled this morning (blue gaps are filled), opening another above near 2940 again (red). There is another tiny gap left open from August near 2885, but may not be significant, except it would get filled if the 200-day EMA gets tested...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Too early to call a bottom, but it's not a surprise to see a bounce at the 200-day EMA on the first test...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Will this pattern continue?
Drop to test, hold, and rally at 200-day EMA
Gap up above the 100-day EMA a day or two later
Hit the 50-day EMA
Wash, rinse, repeat?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I don't know if this will be a repeat of August, but if so we may have reached a temporary peak. It could be different this time, but there is also an open gap below 2920 that will want to get filled eventually.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
That didn't take long. One gap filled (blue), another opened (red).
More: https://www.tsptalk.com/mb/blogs/tsp...sted-held.html
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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