tsptalk's Market Talk

[tsptalk]

The relative strength this morning is in the Nasdaq and tech sector. The Naz Index is up about 1% and about to test the top of the flag-like formation. It looks like a bear flag but it is getting a little long compared to the flag pole portion.

 

[tsptalk]

The dollar broke above resistance, gapping back up above the 20 and 50-day EMAs.

 

[tsptalk]

There goes the dollar again.. Another gap up this morning...

 

[tsptalk]

The small caps are trying to repeat past success at support...

 

[tsptalk]

The dollar is filling its gap already...

There goes the dollar again.. Another gap up this morning...

 

[tsptalk]

Interesting. I don't really remember seeing such diverse returns from the C and S funds like this. The trade deal with Canada is boosting the large caps big (up 1%) but the small caps, and the I-fund, are not participating in the rally so far this morning. It makes sense trade-wise, but normally we'd usually see good news lift all boats to some degree.

 

[PessOptimist]

A rising tide lifts all boats. Wasn't that one of Birchtree's favorites?

 

[blueroadster]

S fund in a big flag where flag equals length of pole? Is that still considered a flag pattern and is it a rare occurrence?

 

[tsptalk]

Yes, I think that could still be a bull fag. But flags (bullish and bearish) have been flaky lately. Take a look at the bullish fag from July... It tanked before finally rallying.

 

[tsptalk]

Another mixed day with the Dow and S&P rallying while small caps and the Transports are falling.

The Dow made a new high today while the Transport broke down from a small bear flag this morning, looking for support at the 50-day EMA.

 

[RealMoneyIssues]

Yes, I think that could still be a bull fag. But flags (bullish and bearish) have been flaky lately. Take a look at the bullish fag from July... It tanked before finally rallying.

Still not finding the formation called 'bull fag' on Investopedia...

Another mixed day with the Dow and S&P rallying while small caps and the Transports are falling.

The Dow made a new high today while the Transport broke down from a small bear flag this morning, looking for support at the 50-day EMA.

Agree, there are some weird things going on...

 

[tsptalk]

Still not finding the formation called 'bull fag' on Investopedia...

Oops! :embarrest: :smile:

 

[tsptalk]

Yes, I think that could still be a bull flag. But flags (bullish and bearish) have been flaky lately. Take a look at the bullish fag from July... It tanked before finally rallying.

 

[tsptalk]

Following up on that previous post from yesterday, we're seeing that curl up like we saw at the end of July. It will be interesting if tomorrow is a choppy day rather than straight up again. See the action on August 1...

 

[tsptalk]

Boom on the 10 year yield...

 

[tsptalk]

... and of course that hurts the F-fund...

 

[tsptalk]

In a sea of red this morning, financials are up big, although they've come off their highs already. 10-year Treasury hit another high at 3.18%.

 

[tsptalk]

Boom!

 

[tsptalk]

Yield on 10-year up at 3.24%. This is the focus. Perhaps next week the focus will turn to earnings.

 

[tsptalk]

Hmmm... interesting!