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tsptalk's Market Talk
- Thread starter tsptalk
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fedgolfer
Well-known member
FWIW, I agree with you in the short term. Without showing too many charts, price has fallen (S-Fund and $tran) out of the Fibonacci Fan's line of support for the trend beginning around the election. I think indices bounce up briefly but then back down, perhaps fast. From the F-Fund point of view, we are putting in well defined cup & handle, I think price retraces and tests support before resuming an uptrend. I'd be back in stocks for a day or two if I had more than one IFT (saving that for a buy-signal in the indices later in the month). Of course, this is just more reading of the tea leaves
Happy trading, all.
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Any interpretation ? what is happening...news seems mild?...
The S&P is balking at the first layer of resistance here. It's not unusual to stall on the first attempt at resistance as some traders take profits. But let's see where it closes.
The I-fund could be under some pressure today with the dollar up 0.43% at the moment...
The I-fund could be under some pressure today with the dollar up 0.43% at the moment...
What the market likes to day...
We saw a strong ADP jobs number this morning.
Oil is rallying again, and above some key levels...
The Transports like the price of oil rising and is now back above the 50-day EMA early today...
And the financials are getting a pop, up 1.2%...
We saw a strong ADP jobs number this morning.
Oil is rallying again, and above some key levels...
The Transports like the price of oil rising and is now back above the 50-day EMA early today...
And the financials are getting a pop, up 1.2%...
The indices are dancing above and below those key moving averages again today.
The Transports are currently above the 50-day EMA, which is a big plus, but there's a long way to go today.
The S&P is still clinging to the 20-day EMA but has stubbornly remained above the 50 day EMA (exponentiation) and 50-day SMA (simple).
The Transports are currently above the 50-day EMA, which is a big plus, but there's a long way to go today.
The S&P is still clinging to the 20-day EMA but has stubbornly remained above the 50 day EMA (exponentiation) and 50-day SMA (simple).
Two charts barely hanging on, and testing major support today...
the 1185 area on the small caps seems to be the key...
The battle in the Transports is still between the F-flag (red), which is getting "F"d today, and the bull flag (blue), which it is testing the lower end at the moment...
the 1185 area on the small caps seems to be the key...
The battle in the Transports is still between the F-flag (red), which is getting "F"d today, and the bull flag (blue), which it is testing the lower end at the moment...
As we anticipated in Thursday's commentary, we saw strong earnings out of Citigroup and JP Morgan this morning and the financials are up modestly, leading the market, but you can see it has some work to do to get out of its downtrend. There's some support at 23.0 but those "h" formation are buggers.
JP Morgan: http://www.cnbc.com/2017/04/13/jpmorgan-chase-earnings-q1-2017.html
Citigroup: http://www.cnbc.com/2017/04/13/citigroup-earnings-q1-2017.html
JP Morgan: http://www.cnbc.com/2017/04/13/jpmorgan-chase-earnings-q1-2017.html
Citigroup: http://www.cnbc.com/2017/04/13/citigroup-earnings-q1-2017.html
The early action shows the Dow being held back by the weakness in IBM. I thought this could also put pressure on the Nasdaq but I guess IBM isn't the leading tech company it once was.
The S&P is having a decent morning but the 20-day EMA acting as resistance so far.
The small caps jumped above the 20 and 50-day EMA so a close up here would be big. But there is still resistance to deal with...
The High Yield Corporate Bond Fund seems to have broken to the upside of that bull flag. Good sign.
TSP Talk - Market Commentary
The S&P is having a decent morning but the 20-day EMA acting as resistance so far.
The small caps jumped above the 20 and 50-day EMA so a close up here would be big. But there is still resistance to deal with...
The High Yield Corporate Bond Fund seems to have broken to the upside of that bull flag. Good sign.
TSP Talk - Market Commentary
Tom- is the 50 day still as important as it once was...i hope SPY breaks/holds above it today...
Sure. Traders and investors are still looking at it so it becomes a self-fulfilling prophesy at the least.
It may not be as important on an index like the DWCPF because it is not a highly followed index.
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