Thread: tsptalk's Market Talk

Things are happening quickly and we have to anticipate the hyper speed moves now. Yesterday' action was what I expected to see possibly play out this whole week - from a breakout of the bull flag, to the rally to test the previous highs, to a double top pullback. Done in a day.

The double top pullback seems to be in motion. It could last days, but these days, it could be hours instead.

Get our your crystal ball and look ahead. I see where support could hold (or break) but again, is that going to happen today, or play out over the next week or so?

Don't forget about your deadlines and transaction delays.

Quite the battle today. Reminds me of the Tommy Hearns / Marvin Hagler fight. Both the bulls and the bears keep throwing punches relentlessly, and we'll see who is still standing when the bell rings.



If you never watched that fight, here's round 1...

Here we are again. Testing 1,2,3, testing...

Can the dollar rebound from a double bottom? The market may not like it...

Is it the Double Top, call the Cops?copsblow.gif

Amazon, Tesla, and Netflix are all down on day like today? Hmmm, new leadership coming, or just some catch up from the broader market?

Originally Posted by tsptalk

Amazon, Tesla, and Netflix are all down on day like today? Hmmm, new leadership coming, or just some catch up from the broader market?

All of the stay-at-home stocks are down because of the positive moderna vaccine news.

Good call.

Originally Posted by tsptalk

Amazon, Tesla, and Netflix are all down on day like today? Hmmm, new leadership coming, or just some catch up from the broader market?

Large corporations with large reserves of cash are particularly attractive when economic recovery of smaller businesses is threatened by a surge in virus cases. Today's WSJ headline is "U.S. Stocks Rise After Promising Vaccine Study". So yeah, money is likely moving out of the big names and back into the broader market.

This logic suggest the S&P 500 performance could be hindered as the virus outbreak in the U.S. get more under control.

Why the S&P 500 isn’t being punished despite U.S. inability to contain COVID-19

DWCPF has 2.64% gain... Great Day! Futures up 28 pts for Mini Dow right now. Will it continue to ride the band upward?

DWCPF -daily.png

HYG is actually positive today, making today's selling in stocks interesting, and a divergence.

If the the 10-year yield closes where it is right now, it would be the lowest close since April 24.