tsptalk's Market Talk

The 200-day moving averages are being given great respect so far. As mentioned in today's commentary there is also some decent longer-term support rising and landing in the same area as these MA's. Can the low be this clean, or do we need another washout?

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Be careful what you ask for!!
 
It's early and we've seen several nasty reversals recently so this may not be true by the close, but we're seeing some positive breakouts above resistance in some key charts this morning.

The small caps moved above their 50-day EMA...

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And the High Yield Bonds (a good gauge of credit status) moved to a two-month high

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The S&P is lagging a bit so far...

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The market has been a tease lately. We may start the day off moving in the positive direction and by around 2pm it tanks. Let's hope for some stability.
 
It's been a big morning for the Transports. It's now at the top of the "megaphone" and also about to fill a gap left open about a month ago.

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It could just be profit taking from Monday's big rally, but the Transports filled the gap and reversed down today after hitting a series of resistance.

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Stocks are rolling over with the 10-year hitting 3% this morning, although money seems to be moving into small caps as the Russell is up a surprising 0.49%.


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Well, that didn't take long and the Russell gave up the gains, but still basically flat - for now - while the Dow is down 300+.

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Stocks are rolling over with the 10-year hitting 3% this morning, although money seems to be moving into small caps as the Russell is up a surprising 0.49%.


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Quite a mixed day today. Facebook is helping the Nasdaq 100 to a big gain, although it's still below the 20 and 50 EMAs. The S&P is up handsomely right now, +0.74%. Small caps are only up slightly, and the Transportation Index is getting pounded back below the 50-day EMA.

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