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tsptalk's Market Talk
- Thread starter tsptalk
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The futures popped higher at about 5 AM when Mnuchin had good things to say about a Chine deal. The back and forth continues...
https://www.tsptalk.com/mb/day-to-day-market-talk/32007-us-china-trade-negotiations.html#post623733
The question is whether a rally can hold after the recent change in direction.
https://www.tsptalk.com/mb/day-to-day-market-talk/32007-us-china-trade-negotiations.html#post623733
The question is whether a rally can hold after the recent change in direction.
userque
Well-known member
Follow up: Gap on Russell has been filled:
The small caps / Russell 2000 has nearly filled its open gap already. The question is whether it will fill and go, or just make a peak here. It was quite a rally from Last week's low to this morning's high (more than 4% in 3 days). Does it have anything left?
Copper signal?
Is the price copper signaling trouble ahead? Looking at this 5 year weekly chart, copper seems to peak before stocks do by a couple to several months. When they are diverging (copper going down while stocks are rallying) the stock market can lag that move, but tends to follow eventually.
With the S&P 500 near all-time highs and copper's chart looking like a head and shoulders pattern forming within a downtrend, how long can stocks diverge?
Is the price copper signaling trouble ahead? Looking at this 5 year weekly chart, copper seems to peak before stocks do by a couple to several months. When they are diverging (copper going down while stocks are rallying) the stock market can lag that move, but tends to follow eventually.
With the S&P 500 near all-time highs and copper's chart looking like a head and shoulders pattern forming within a downtrend, how long can stocks diverge?
The trend continues today. Although the Nasdaq is at all-time highs, currently today there are only 88 Nasdaq stocks making new 52-week highs, while surprisingly 81 are making new 52-week lows. In the prior two days the new lows outnumbered the new highs. Seems very odd.
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