tsptalk's Market Talk

[tsptalk]

What a yo-yo market today.

 

[tsptalk]

The stock market continues to follow the action of bond yields...

 

[2moryrs]

The PMO indicator above has now crossed below its moving average for a second time, and as I've mentioned before, sometimes we get the bigger move on those second crossovers, and that's where the bears may have an advantage

This is taken from the Market Comments that I read this morning. What does PMO indicator stand for? Need more education please.

2moryrs

 

[PessOptimist]

Price Momentum Oscillator probably. Could be Postmenopausal Osteoporosis.

 

[tsptalk]

Price Momentum Oscillator probably.

Si.

 

[tsptalk]

The Transports were looking like they wanted to rollover, but they've made a nice move above the 50-day EMA today after the double bottom earlier this week, but there's that 200-day trying to hold it back today. Tricky situation.

 

[tsptalk]

Steady action recently with higher highs, higher lows, but not all gaps are getting filled. Today's is the largest and will almost certainly get filled, but the one from early March is still open, and technically the one from February (purple) has some sunlight and could be a target although there was an attempt to fill that one...

 

[tsptalk]

The overhead gap in 10-year yield was filled yesterday. Does it head down again?

The longer-term chart shows an open gap from December of 2017 was filled last week.

The next open gap I see on the downside is near 2.25% from September 2017, with a couple more below that.

 

[tsptalk]

10-year T-note yield dipping again...

 

[tsptalk]

It's nothing new but but I'm still amazed at how low yields on UK and German Bonds are. Yes, that's a negative on the German Bund.

 

[tsptalk]

The Transports are struggling today but so far just a little tidying up of that open gap.

 

[tsptalk]

Some things to note today... Transports up big on earnings. Small caps down sharply on... something. Yield on 10-year T-note looks to be peaking at 50-day EMA - if today is a negative reversal day as it appears to be as of now. (See chart).

 

[tsptalk]

Another day of new highs for the dollar. That's not doing the I-fund any favors today.

 

[tsptalk]

The small caps were getting pounded near the open this morning - falling below those old highs again, but they are fighting back hard after hitting the rising support line. The negative reversal day on Wednesday did its job of producing more short term weakness but the bulls made a move to push back at that weak open. We'll see if the bears have any teeth to swat back this intraday rally. So far this year, they haven't had much success.

 

[shitepoke]

Tom...whats happening with smart money/dumb money chart ??
thanx...EJJ

 

[tsptalk]

It's in today's Plus report. Don't want to talk specifics in this public forum, but let's say the dumb money is a lot more confident in a rally than the smart money right now - by a spread of 57.

OK, so that was a specific.

Tom...whats happening with smart money/dumb money chart ??

 

[tsptalk]

The energy ETF is doing a little dance between the 50-day MA and the 200-day EMA. Looks like the 50-MA is crucial.

 

[tsptalk]

The 10-year yield is pulling back after yesterday's rally. It looks like a possible bear flag. 25.50 or so could be tough resistance. When yields go down, bonds prices go up. Is 2.5% (25.00) going to hold or do we see another test of that 2.35% low - which would help the F-fund?

 

[tsptalk]

The S-fund pulled back sharply this morning after Monday's negative reversal day, but so far the rising support is holding again...

 

[tsptalk]

"One Way Or Other"

This may be the reason for that sharp sell-off earlier...

https://twitter.com/LiveSquawk/status/1123243825722474496


More on the Chine trade talks...

https://www.cnbc.com/2019/04/29/us-...-the-final-laps-steven-mnuchin-tells-nyt.html