FogSailing
Well-known member
It seems so overbought Tom. Seems like it can't be staying there very long. But this is a bear market and folks are selling equities.
FS
FS
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Lakebound
Member
It does seem overbought. And S Fund has been oversold for months too. It's like we are living in Bizzaro-World (Seinfeld Reference).
Frank
FireWeatherMet
Well-known member
Open gaps, EMA resistance, possible trend line breakout, PMO crossovers (2nd one, which is bullish). There's a lot going on here.
Interesting.
Do you think that last open gap is more just due to Monday being a holiday, while world markets generally soared higher? As opposed to the other ways that those gaps occasionally pop up...in which case they tend to get filled.
That could be part of it, but the futures actually gapped up on Sunday evening (6 PM ET, and stayed open until Monday at 1 PM ET) even though the stock market was closed Monday, and that gap remains open which is very rare on the emini / ES chart.
FireWeatherMet
Well-known member
Hope that explanation by Ton helped you understand.
IFT back to 10 C 10 I and 5 S from 20 I 20 C and 10 S at COM could see some continuation but taking some off anyway. 1 IFT remains.
Iran agreed to a production freeze helping oil rise today...
Part of the reason I left a 25% holding is we were looking to continue to cut through resistance. This may just help the market knock down some walls. I really expected Iran to stick to their plan to dilute the market more to make a name for themselves. But, thinking about that, that wouldn't be making a good name if they're not going to play the game. I was thinking they would just be out for the money. I saw JTH's move. Well done for him. See what can happen before the media cuts everything back down again.
Originally Posted by BooDog
Bounce continues from yesterdays lows? Thinking it may be worth the risk. Adding to I and C. FYI, TSP users need to answer a set of security questions so make sure you plan ahead to allow a couple minutes to answer them. Can't do anything till you do."
today
IFT back to 10 C 10 I and 5 S from 20 I 20 C and 10 S at COM could see some continuation but taking some off anyway. 1 IFT remains.
Oil just started pulling back for some reason (report of some sort?) and it took stocks with it...
5-minute chart...
Inventories I think. Still, imo, oil will be stuck $25 - $40 for a bit. Market just needs to get over it.
I always expect a gap to get filled - usually sooner than later, but as we've seen in recent years, some of these gaps off bottoms can take a while (see Oct gap). So I'm not sure about that lower open gap near 187. I suspect it will get filled but it could turn out to be like October's where we have to wait.
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