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tsptalk's Market Talk
- Thread starter tsptalk
- Start date
I see the indices are moving higher into the Fed announcement while bonds are slipping although still up slightly.
That's the logical direction considering it appears 20,000 is a magnet right now but wait for the dust to settle after the initial volatile reaction. We may not see the true reaction / direction until tomorrow since emotion is likely the catalyst today. It could get wild if there are any surprises.
That's the logical direction considering it appears 20,000 is a magnet right now but wait for the dust to settle after the initial volatile reaction. We may not see the true reaction / direction until tomorrow since emotion is likely the catalyst today. It could get wild if there are any surprises.
Dollar falling hard. Gold and bonds up big. Stocks wavering.
The January seasonality chart might suggest a day 3 (not Jan 3) pause from the 2-day rally to start the year.
Chart provided courtesy of www.sentimentrader.com
The January seasonality chart might suggest a day 3 (not Jan 3) pause from the 2-day rally to start the year.
Chart provided courtesy of www.sentimentrader.com
Big negative reversal so far in the dollar this morning. It ran up and filled two gaps, then backed down. Looks like a bear flag and it may test the 50-day EMA soon. Potentially good relative strength for the I-fund after today (in comparison to C and S?). The dollar is actually still positive today so that relative strength probably won't show up in tonight's I-fund price. It's when (if) the UUP breaks down from the flag that it may benefit the I-fund. This is not a recommendation to get in the I-fund. Just an FYI.
The Transports have held at support so far and we're seeing a bounce off the at support this morning as the railroad stocks are doing well. There is some resistance at today's high which created a little pullback to test a new support line - created by last week's high. Looks like 9200 is that pace to watch for support now, and about 9300 for resistance.
Fed-speak brought buyers back this afternoon.
http://www.cnbc.com/2017/02/01/fed-leaves-rates-unchanged-at-february-meeting.html
http://www.cnbc.com/2017/02/01/fed-leaves-rates-unchanged-at-february-meeting.html
The S&P is breaking above the first resistance line of rising wedge, and nearing new highs and the top of the "F" looking flag...
Does it look like it will break out? I think if we get any indication that the regulation on banks will be changed then we will see new highs. Mid 2300"s
There's a tendency to see some give backs in the days following a jobs report rally. But the real answer will come from the outcome of the Super Bowl.
http://www.investopedia.com/terms/s/superbowlindicator.asp
Falcon win and we bust 2300...There's a tendency to see some give backs in the days following a jobs report rally. But the real answer will come from the outcome of the Super Bowl.
http://www.investopedia.com/terms/s/superbowlindicator.asp
fedgolfer
Well-known member
Definitely not looking good for the F-Fund longterm. However, there may be a chance for a very short reprieve. PSAR uptrend dot formed outside the lower BB (circled in green on chart), majority of times that leads to a short-term PSAR uptrend. DISCLAIMER: I could easily be confused in reading the tea leaves; and as of COB yesterday I could be the F-Fund bag holder if I'm wrong 
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