tsptalk's Market Talk

[CrabClaw]

ugly nasdaq candle...

 

[Bullitt]

SPX clear break out with more room to run. It would be very rare for today's activity to be a one off. Still many trades (short cyclicals / long tech) that need to be unwound which should take a few days.

 

[tsptalk]

One gap filled (blue), one still open (red.) Plus a small one created today.

 

[bmneveu]

I can't believe I'm saying this, but.... pivot to I Fund? Two days in a row it is outperforming domestic stocks.

 

[grimmjsg123]

At some point one would say yes. It is overbought, above the Bollinger band two days in a row, and is not imbedded. It is not yet rife for a buy IMO; but will be in the future.

 

[Viva_La_Migra]

I can't believe I'm saying this, but.... pivot to I Fund? Two days in a row it is outperforming domestic stocks.

Might be. I think it'll really take off around February or March, so this may really be a good time to buy in.

 

[tsptalk]

Hmm, what happened here today? Yahoo and Fidelity confirm that daily high and low on Tuesday. It looks like a fluky suspicious trade just after 2 PM ET.

 

[tsptalk]

The S-fund (DWCPF) is making another attempt to break out of the rising trading channel. It certainly has the momentum, but being at the top of the range makes it a little vulnerable in the short term.

The S&P 500 is getting close too.

 

[tsptalk]

Gap filled on morning decline, and then some stabilization.

 

[rangerray]

Like some others, I'm really kicking myself for being out of the market at the moment, but I have FOGIATT (Fear of Getting in at the Top).

 

[tsptalk]

Two different situations. The Nasdaq has some issues, but small caps are still flying...

 

[tsptalk]

A negative reversal day that seemed to work - negative follow-through the following day. Approx. support levels: 12,200, 12,100, and 12,000.

 

[tsptalk]

The 10-year yield is still trying to fill that open gap, and is down today on the weaker than expected jobless numbers.

 

[tsptalk]

As goes credit, so goes the stock market. This is a tough read with that bear flag there, but it's holding above that old blue resistance line.

 

[tsptalk]

How important is today's close? A negative close would create a negative outside reversal day, which would be bearish for the short-term. A close near the highs makes it a positive outside reversal day, which would be quite bullish for the short-term. Anything in the middle and we're left guessing with a spinning top.

 

[nasa1974]

Do you think the Oxford University results on their vaccine may have something to do with the market?

 

[tsptalk]

Double bottom or breakdown? Keep printing those bucks!

 

[tsptalk]

Small gap still there to fill below today's low...

 

[tom4jean]

Small gap still there to fill below today's low...

I've never been a real believer in gaps... So the markets up one day, and down the next. I don't understand the theory that the space in between them has to be filled, it just doesn't make a whole lot of sense to me. But that's just me... I mean think about it; are there people out there that say to themselves, "We need to buy more stocks ,(and maybe lose money) to fill up that gap that was left behind yesterday". Sorry, but I just don't get it. It's just a chart. It shows where it starts, and it shows where the market stopped. Millions of people traded, and billions of dollars were traded in between, are they really thinking about making those lines move up and down according to some preconceived pattern? I don't think so, they're just thinking about making money!

Sent from my Pixel 4a using Tapatalk

 

[bmneveu]

I've never been a real believer in gaps... So the markets up one day, and down the next, I don't understand the theory that the space in between them has to be filled, doesn't make a whole lot of sense to me. But that's just me... I mean think about it, Are there people out there that say to themselves, "We need to buy more stocks to fill up that gap that was left behind yesterday.." Sorry but I just don't get it. It's just a chart. It shows where it starts, and it shows where the market stopped. Millions of people traded and billions of dollars were traded in between, are they really thinking about making those lines move up and down according to some preconceived pattern? I don't think so they're just thinking about making money!

Sent from my Pixel 4a using Tapatalk

The market gaps up or down because of light volume trading in pre market hours. The market is not in equilibrium in that time. So when the market opens and the price is siginificantly different than the day before, we get a gap. It is not natural. The theory is that the market adjusts back to equilibrium eventually. There is enough historical data that tells us gaps get filled more often than not. That's a fact. They don't always get filled, but its more than a coin flip.