tsptalk's Market Talk

[tsptalk]

The Japanese Nikkei is looking a little funky after a possible lower high at Resistance. There's still a large open gap near the longer-term rising support line and the 200-day EMA. Japan came into 2017 as the largest holding, by far, in the I-fund at 24% so it is one to keep an eye on if you use the I-fund.

 

[tsptalk]

The early downside action had the SPY filling its open gap and getting a little bounce back here. It looks like it could be an outside reversal day forming, but where it closes will make the difference whether it it is a positive of negative outside reversal day.

 

[guppie]

In hind sight I should have sold my TVIX position when the gap filled. Oh well, I think I will get a chance after lunch

 

[tsptalk]

The Russell 2000 (small caps) did get some positive follow-through from Wednesday's big positive reversal day. Now it is testing the 50-day EMA.

 

[tsptalk]

Small caps are flying up to test recent highs again...

The AGG (bonds F-fund) pulled back and filled an open gap from last week.

 

[tsptalk]

Weird day! The Dow is still up 60-points. The Nasdaq 100 futures are down 132-points, or more than 2%, and the Russell is up 0.52%. Also, gold and bonds are falling.

 

[tsptalk]

The VIX just went from new lows, to the top of the 2-month range (save the May spike) in about an hour or two.

 

[tsptalk]

A mini-flash crash in Amazon today. It was down almost $90 at the lows, but rebounded and closed down $32.

I don't know what happened there, but the dip buyers didn't take long to jump in.

The Nasdaq 100 followed suit.

 

[FireWeatherMet]

Whats going on???

 

[tsptalk]

The market is getting de-FANG'ed.

 

[tsptalk]

The Nasdaq 100 is trying to stabilize at the 50-day EMA and the longer-term rising support line after being down nearly 2% again early Monday.

 

[tsptalk]

The yield on the 10-year T-bill moved to new lows this morning. That's what the cup and handle formation on the chart of the AGG was trying to tell us, but it was hard to understand with interest rates moving higher.

 

[tsptalk]

It's still early, but the recent rallies in the lagging financials and energy sectors seem to be rolling over again today.

 

[tsptalk]

It's still early, but the recent rallies in the lagging financials and energy sectors seem to be rolling over again today.

The XLE stayed down on the day, but the financials bounced back by the close...

 

[tsptalk]

The S&P and small caps are testing their 20-day EMAs this morning...

While the I-fund is breaking a bit, and trying to fill the next open gap...

 

[tsptalk]

Trannies testing support after a pullback from flat top.

 

[tsptalk]

The High Yield Corp. Bonds broke down this week and are trying to rebound today. There is that open gap (blue) that could be a draw, but that is above some resistance so it could be a battle.

Investors keep an eye on this as a gauge of the credit market and the stock market will pay attention.

 

[tsptalk]

The small caps are having a nice day so far, but the Russell remains in a short-term downtrend since the failed breakout a couple of weeks ago.

 

[tsptalk]

We saw a breakout in the Russell 2000 small caps on Friday, from its recent downtrend. Remember, the Russell rebalanced on Friday, which caused heavy volume trading. So I don't know how much that had to do with this, but I guess we'll find out in the first few day of the coming week.

 

[tsptalk]

A bit of a breakdown in the F-fund fund this morning. The rising channel and rising wedge have broken.