Admin note: Just a reminder that I am on vacation this week. I will check in every day but the commentaries will be brief because of some personal plans. If something major happens I'll try to address that the best I can. My schedule will be completely off being in a different time zone so I'll apologize in advance, and appreciate your patience if I respond late to emails, or post reports and update the AutoTracker later than usual. Premium alerts will go out as needed
Also, Intrepid Timer won't be able to post a report for today as he explained in his report yesterday. Here's wishing Mike a speedy recovery from what we hope will be just a routine medical procedure.
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The market opened with an explosive rally on Turnaround Tuesday, but the turnaround turned out to be the bears turning around the morning rally.
I've actually started writing this about 3 hours before the market closes on Tuesday and with things moving so quickly, everything I say may be be moot by the time this goes out. A 400 point gain in the Dow early on Tuesday is now a 230-point as of about 1 PM ET. I have some plans this Tuesday evening and won't have much time to update it.
I've mentioned this before but it is a classic bear market set up and that is when stocks are overdue for a rebound and there is no rebound. It's a warning sign to be on the lookout for something more sinister because it could take a complete capitulation from the bulls who have been holding on in the hopes of a reversal, and that can trigger an all out free fall.
The good news is, it tends to precede an actual reversal, and seeing the Tuesday morning rally fail could perhaps be the trigger. The bad news is, downside waterfall like declines can get so severe that it would take a tremendous rally just to get back to where it was before that capitulation.
Again, I know this is not very helpful being that the market could completely reverse back up or close at the lows. Our TSP Talk Plus subscribers know where I am and since I don't have any IFTs left in September I am just watching and waiting for October before I can actually do anything different than I am doing now.
If the S&P 500 and other indices can actually close positive on Tuesday, that might be a good sign that we're ready for a late month rally. But then comes October - not normally terrible month for stocks historically, but it is also infamous for some major market crashes over the the last century.
Good luck out there!
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
For more info our other premium services, please go here... www.tsptalk.com/premiums.html
To get weekly or daily notifications when we post new commentary, sign up HERE.
Thanks so much for reading. We'll see you back here tomorrow.
Tom Crowley
Posted daily at www.tsptalk.com/comments.php
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
Also, Intrepid Timer won't be able to post a report for today as he explained in his report yesterday. Here's wishing Mike a speedy recovery from what we hope will be just a routine medical procedure.
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[TD="width: 338, align: center"] Daily TSP Funds Return
[TR]
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The market opened with an explosive rally on Turnaround Tuesday, but the turnaround turned out to be the bears turning around the morning rally.
I've actually started writing this about 3 hours before the market closes on Tuesday and with things moving so quickly, everything I say may be be moot by the time this goes out. A 400 point gain in the Dow early on Tuesday is now a 230-point as of about 1 PM ET. I have some plans this Tuesday evening and won't have much time to update it.
I've mentioned this before but it is a classic bear market set up and that is when stocks are overdue for a rebound and there is no rebound. It's a warning sign to be on the lookout for something more sinister because it could take a complete capitulation from the bulls who have been holding on in the hopes of a reversal, and that can trigger an all out free fall.
The good news is, it tends to precede an actual reversal, and seeing the Tuesday morning rally fail could perhaps be the trigger. The bad news is, downside waterfall like declines can get so severe that it would take a tremendous rally just to get back to where it was before that capitulation.
Again, I know this is not very helpful being that the market could completely reverse back up or close at the lows. Our TSP Talk Plus subscribers know where I am and since I don't have any IFTs left in September I am just watching and waiting for October before I can actually do anything different than I am doing now.
If the S&P 500 and other indices can actually close positive on Tuesday, that might be a good sign that we're ready for a late month rally. But then comes October - not normally terrible month for stocks historically, but it is also infamous for some major market crashes over the the last century.
Good luck out there!
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
For more info our other premium services, please go here... www.tsptalk.com/premiums.html
To get weekly or daily notifications when we post new commentary, sign up HERE.
Thanks so much for reading. We'll see you back here tomorrow.
Tom Crowley
Posted daily at www.tsptalk.com/comments.php
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
