tsptalk's Market Talk

[tsptalk]

Greece's markets don't have a major impact on the I-fund alone, but since the Greece debt fiasco a few years ago I keep an eye out for possible clues for trouble. This is an ugly looking chart for the Athens Index. It bounced back above the 200-day EMA a couple of times but here it is below it a 3rd time after failing at the 50-EMA, and this time we have a large bear flag to go along with it, and a possible breakdown already. I'm not sure what it's saying, but it can't be good news.

Follow up...

 

[tsptalk]

The High Yield Corp. Bonds tanked again at the open, but an hour + into the trading day it is trying to reverse off of the 200-day EMA...

 

[tsptalk]

2 gaps filled on High Yield Bond Fund (red), one new one opened (blue).

 

[tsptalk]

A few midday notes:

Small caps are holding on and adding a little to Thursday's big gains...

The Transports are failing at the descending resistance line.

The High Yields Corp. Bonds are pulling back slightly from Thursday's rally after hitting the 50-day EMA.

 

[tsptalk]

S&P hanging on on this normally weak Monday after Thanksgiving. Small caps are down but trying to bounce off the morning lows, while the I-fund is lagging in early trading.

 

[tsptalk]

Interesting day.... The Dow is at a record high, the S&P is down slightly, small caps are up nicely, but the Nasdaq and Nasdaq 100 had what looks like a mini-crash, each down almost 2%, although they are trying to hold the 20-day EMAs.

 

[weatherweenie]

Transportation Index is flying high: [FONT=&quot]10,028.53[/FONT][FONT=&quot] [/FONT][FONT=&quot]+274.50 (+2.81%)[/FONT]

 

[nnuut]

Waiting for Turn-Around 14:30!!!

 

[tsptalk]

Transportation Index is flying high: 10,028.53+274.50 (+2.81%)

Wow, I hadn't evened noticed that. Monster move. Rotation?

 

[nasa1974]

Yahoo Finance is showing the "S" fund at.

Dow Jones U.S. Completion Total (^DWCPF)

DJI - DJI Real Time Price. Currency in USD

1,332.25+16.22 (+1.23 %)
As of 2:17PM EST.


This is from the chart at the bottom of the page.
1,332.70 +1.56 (0.12%)

Nov 29, 2:19 PM EST

What am I missing? Or is the digit in the wrong spot?

 

[tsptalk]

This is from the chart at the bottom of the page.
1,332.70 +1.56 (0.12%)

Nov 29, 2:19 PM EST

What am I missing? Or is the digit in the wrong spot?

Hmmm... I wonder if Google charts were just off, or delayed that day?

 

[tsptalk]

So much for any kind of double top in the Transports...

 

[evilanne]

So much for any kind of double top in the Transports...

Maybe all the orders from CyberMonday & online shopping being shipped.

 

[tsptalk]

Not much of a bounce yet in the S&P this morning, off of Monday's negative reversal, but...

Money seems to be moving back into tech. So, rather than selling, rotation between sectors continues.

The Naz 100 is getting a boost off of the support line of its trading channel and it negotiates its 20-day EMA now...

 

[tsptalk]

2651 and 2659 are key levels today...

 

[tsptalk]

After lagging for days, smalls caps are leading today, mostly because of the Alabama Senate race. Investors are potentially seeing it as an incentive for Republicans to pass the tax bill before Christmas and before the new Senator is sworn in.

That may not be the case in the end as the Democrats are crying foul as the Republicans did when the ACA was being passed -- Remember Scott Brown took Kennedy's place and Mitch McConnell said the senate should wait until he's sworn in to vote?

Anyway, that's going on now and the tax bill, and it's ups and downs, will likely be the catalyst as the market follows the bouncing ball.

No politics here ... just talking about how /why the market may be reacting the way it is.

Also, it's about 50+ minutes and counting until the Fed rate hike.

 

[tsptalk]

Yesterday's losses are being reversed after Rubio says he will vote yes on tax bill now that he got his "tweak".

https://www.cnbc.com/2017/12/15/rep...x-credit-to-appease-marco-rubio-mike-lee.html

 

[tsptalk]

The 10-year Treasury yield looks like it's getting ready to breakout of this big cup w/ handle formation. I'd avoid bonds (F-fund).

 

[tsptalk]

Kind of a blah day for stocks, but the Transports are racing to new highs....

 

[tsptalk]

There goes the dollar again... I'm not an economist, but this doesn't make a whole lot of sense to me with yields rising.