tsptalk's Market Talk

[tsptalk]

Japan's Nikkei is falling tonight...

 

[tsptalk]

Interesting development in the Transports...

 

[tsptalk]

Fear & Greed Index - Investor Sentiment - CNNMoney

 

[tsptalk]

The early action has the S&P (SPY) moving toward the lower end of its rising trading channel, or "F" flag.

 

[tsptalk]

 

[tsptalk]

 

[tsptalk]

Despite the polls we have been hearing about, the money seems to be on "No" in the "Brexit" vote. Currently 43% Yes, 58% No.

That's the opposite of what we heard on Friday when stocks sold off. A poll today had a 6-point lead for "Yes" (53 %to 47%) but again, the betting money is saying "No" Brexit...

https://www.predictit.org/Contract/784/Will-the-UK-vote-to-leave-the-EU-by-year-end-2016#data

 

[tsptalk]

The London FTSE is up big (+3%) on the new Brexit polls. The 200-day EMA is trying to push back right now.

 

[tsptalk]

 

[tsptalk]

The SPY was reaching for one open gap this morning, while opening another.

 

[tsptalk]

Janet Yellen is about to give a testimony on Capitol Hill so we could see some volatility this morning.:swordfight:

 

[tsptalk]

The Monday morning gap is still open on the SPY and trying to hold. The market is probably better off if it fills. The 2nd chart shows the Russell 2000 already being filled. Both have open gaps above as well.

 

[tsptalk]

 

[tsptalk]

30 minutes into Friday's Post Brexit trading...

New gaps everywhere, but two big gaps filled on SPY...

View attachment 38633

 

[tsptalk]

The high yield bond fund HYG filled those two gaps (blue) we talked about in Friday's Market Commentary, while opening up another small one (red). It has found some support at the 50-day EMA so far.

 

[tsptalk]

Another big rally in the dollar should help punish the I-fund today, but it (UUP) is reversing down at the moment.

 

[tsptalk]

The small caps are being hit hard again, and that's kind of interesting since the strong dollar will likely impact the large caps more. But when in doubt, keep the stalwarts and dump the rest, I guess?

 

[tsptalk]

The Trannies are also being pummeled but trying to come back. That kangaroo tail could disappear on a weak close.

 

[jkenjohnson]

Brexit scared me so I got out early. Is there a bottom in sight?

 

[law87]

dow -300 Vix is in the negative wth...