weatherweenie
Well-known member
Another move to 1150, then a retreat.
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tsptalk's Market Talk
- Thread starter tsptalk
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Yup. It looks like yesterday's spike higher might be the market's way of giving us the middle finger, just like in June.
James48843
Well-known member
Note: Of the top 25 on the TSPTALK rankings right now, 20 of the top 25 are currently in either the "G" fund, or the "F" fund.
What does that tell you?
What does that tell you?
FAB1
Well-known member
Yup. It looks like yesterday's spike higher might be the market's way of giving us the middle finger, just like in June.
June 2010
LOL!
FAB1
Well-known member
Letz see... they are the Smart money?
Lots of people on the Tracker have managed to pull themselves out of negative territory
this last month - I guess the rest of us werent too smart (like me)
Maybe next year I will try that Buy an HOLD thing.
PessOptimist
Well-known member
Is there a technical name for that June formation?
Yup. It looks like yesterday's spike higher might be the market's way of giving us the middle finger, just like in June.
June 2010
It's called a Failed Upswing, or F.U.
PessOptimist
Well-known member
:cheesy::worried:
:laugh:
:laugh:
Looks like we are getting a 2nd outside day in the last couple of weeks. Here's the thing... A close below yesterday's low would be a very bearish sign (2 negative outside reversal days), but a close near the highs today would be a positive outside day. That makes today's close very important!
JTH
Well-known member
Looks like we are getting a 2nd outside day in the last couple of weeks. Here's the thing... A close below yesterday's low would be a very bearish sign (2 negative outside reversal days), but a close near the highs today would be a positive outside day. That makes today's close very important!
Great catch Tom, you know sometimes I have to remind myself. Although I'm bearish, the trend is up until proven otherwise.
Intrepid_Timer
Well-known member
What if it closes right at yesterday's close?
It is more effective it it closes above or below the prior day's high or low. A flat close wouldn't give any significant advantages.
Also, the wider the ouside day bar, the more effective the signal.
Mixed jobs report at best, and the market shoots up. Bad news is good news as it increases the chances of quantitative easing, and investors don't like to fight the fed.
The upcoming election and possibity of QE2 make it tough to be on the sidelines, which is where I am.
The upcoming election and possibity of QE2 make it tough to be on the sidelines, which is where I am.
JTH
Well-known member
Agreed
I'm having difficulty committing to this market. In my short 4 years this is the longest stretch I can recall where both AGG & SPX traded together in unison. Something should be breaking and it should happen soon. I'm very mindful that light volume floats markets higher and that's all great, but with just two IFTs I don't care to throw them away without some sort of confirmation.
The Freetrading Video posted in Poolman's account lastnight shows the VIX furtures slowly climbing to 30 peaking in March.
Flash Crash: Do we still not have an answer as to the reason and the preventative solution? Seriously who wants to jump in at the top?
"Last week, federal regulators released their analysis of the cause of May's flash crash. They blamed, but did not identify, a large trader's use of a computer trading system to sell futures contracts. That action led to rapid and sudden selling that, in turn, triggered additional sell-offs in an already unstable market."
Source: http://www.tampabay.com/news/business/markets/article1126445.ece
The Dow Transports briefly follow the Nasdaq 100 (QQQ) to a new highs this morning, before pulling back. Can the S&P 500 be next?
Charts provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Charts provided courtesy of www.decisionpoint.com, analysis by TSP Talk
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