Thread: tsptalk's Market Talk

I was just told that my commentary for Tuesday had not been uploaded yet. Ugh! Sorry. It's there now. At least I know one person reads it.

https://www.tsptalk.com/comments.php

Small caps booming for 2nd day, and now above the 50-day EMA and the neckline of the head and shoulders. I'm still a little worried about the retest possibility as I talked about in today's commentary, so it has to hold these gains into the close. So far so good, but it's a long day and those MonkeyPox aren't going anywhere




Yields are popping again, and I was suspecting that could be the low, but let's see what it does once it fills that open gap and deals with the 200-day EMA.

The higher than expected jobless claims number is pushing yields... nowhere.

Remember that gap near 1.3% was filled and that often is a place of resistance.

The dollar opened on the south side of that channel / rising wedge. 200-day EMA may come into play if the bottom of the wedge holds as resistance now.

Does the tail or wick of a candle fill a gap, or is it the main body of a candle that's used to consider the gap filled?

Yes, the tail can fill the gap. The candlestick can race up (or down) to fill a gap, then back off, and that creates the tail and fills the gap.

The gap on the 10-year yield is a decent example, which is what I assume you were referring to.

The small caps of the Russell 2000 (IWM) are getting a smack-down today, while the S-fund small caps (DWCPF) are hanging in there a lot better - trying to hold onto that 50-day EMA it broke back above yesterday.

Another day of poor breadth even on the Nasdaq. Whole entire market being carried by FAA(N)G-M again.

Yields up, passing the top of that gap but more resistance overhead.

A mini double top being tested today. It may not break out today based on prior similar situations. Earnings season can trigger breakouts - or fake outs!

Originally Posted by tsptalk

A mini double top being tested today. It may not break out today based on prior similar situations. Earnings season can trigger breakouts - or fake outs!

I’m seeing a great setup for what I think will be new highs next week. I really think we’re going to get some great earnings reports next week that boost a lot of stocks broadly. Hang in there!


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