tsptalk's Market Talk

[wavecoder]

It's very early but the opening rally has already been turned away by the 50-day SMA. That's the test here... overhead resistance and the top of the range. A breakout will be a good sign, but it does have to get through the top of that trading channel to turn more bullish.

It's a crazy day, a lot of back and forth action

 

[tsptalk]

There's a big battle going on. The longer-term charts still look bad but the short-term action is bullish. There's a lot of jockeying for position.

 

[FireWeatherMet]

Hard to find anyone who likes this market.. All you hear from the CNBC talking heads are "possible looming recession", "Oil could eventually fall to $10 like in the 1980's" and "We have new S&P buy-in targets of 1780".

All of that pessimism means that...barring some unforeseen event...the market will keep going higher. I jumped into stocks the day after we hit the new low, and have not regretted it ever since.

Curious what the Sentiment Survey will say on Monday. BTW, I have missed seeing the vote past few weeks, can we all still vote?

 

[tsptalk]

Curious what the Sentiment Survey will say on Monday. BTW, I have missed seeing the vote past few weeks, can we all still vote?

Yes, you can have it emailed to you each week...

TSP Talk - Email Alerts

 

[tsptalk]

China's Shanghai made a temporary new multi-year low tonight and is trying to hold above the January low of 2655.

 

[JTH]

Good afternoon

Futures were down most of the session, until recently...

 

[pmaloney]

Just read Why buying gold now could be a lot like buying stocks in 2009.

Any thoughts on buying GLD or other Gold stocks ETFs or the best way to buy physical gold?

 

[tsptalk]

Just read Why buying gold now could be a lot like buying stocks in 2009.

Any thoughts on buying GLD or other Gold stocks ETFs or the best way to buy physical gold?

You might find some info here...

http://www.tsptalk.com/mb/etf-talk/

http://www.tsptalk.com/mb/gold-silver/

 

[pmaloney]

Thanks! :smile: Quite a tightrope today.

 

[tsptalk]

 

[JTH]

+1

I drew this up over the weekend...

 

[JTH]

Good afternoon

Pre-markets were down at the open, but quicky recovered

 

[JTH]

Good afternoon

Pre-Markets have been under much of the session, but fairly stable

 

[tsptalk]

Oil again dictating the stock market movement. An oil report was released at 9:30 CT sending things flying in both directions.

 

[tsptalk]

Gold is at key long-term resistance via the 200-week EMA and the top of a parallel trading channel. But instead of backing down like prior tests in this weekly chart, it is trying to form a bull flag.

 

[JTH]

Good afternoon

Pre-Markets were down most of the session, but volatitlity appears low.

 

[tsptalk]

A little bit of turbulence in Asia tonight with a few hours of trading left.

 

[FireWeatherMet]

We could use a 1/2 to 1% down day here to take a little steam off...to continue moving higher. :smile:

 

[law87]

We could use a 1/2 to 1% down day here to take a little steam off...to continue moving higher. :smile:

its been multi day we been up here. I feel like its ready to turn back around.

 

[JTH]

Futures were down the entire session