tsptalk's Market Talk

[tsptalk]

Back in the channel, so perhaps considered a failed breakout - but the 20-day EMA is holding yet again.

Nothing serious is in the S-fund, but a few cracks showing...

 

[tsptalk]

This morning's spike higher filled Friday's open gap (red), and created another open gap (blue), although that's one of those "stealth" gaps that don't show up as easily so the lore to get filled may not be as strong.

 

[tsptalk]

Big tech is sure percolating in front of their earnings after long consolidations.

Apple and Microsoft report this week, and Amazon next week.

Apple is breaking out this morning, Microsoft too, while Amazon is up again its resistance.

Netflix is on the bottom. It broke out after earnings last week but has since pulled back, perhaps eying that big open gap.

 

[fedgolfer]

Big tech is sure percolating in front of their earnings after long consolidations.

Apple and Microsoft report this week, and Amazon next week.

Apple is breaking out this morning, Microsoft too, while Amazon is up again its resistance.

Netflix is on the bottom. It broke out after earnings last week but has since pulled back, perhaps eying that big open gap.

something flash-crashy is going on, past 10 minutes or so. SPAC bubble pop, hedge fund manipulation?

 

[tsptalk]

something flash-crashy is going on, past 10 minutes or so.

Yeah, not sure what that was yet, but it did fill an open gap on the S&P 500...

 

[LTJPFED]

Yep markets moving big at the moment...not sure what is going on, just saw it myself.

 

[fedgolfer]

Yep markets moving big at the moment...not sure what is going on, just saw it myself.

Maybe just institutional sized profit taking. That nasdaq and spac bump up in the AM had to trigger some trimming.

 

[tsptalk]

Just another one hour pullback.

 

[tsptalk]

I mentioned these two in today's commentary. The XLF is on day two below support while XLE is trying to hold above it.

 

[fedgolfer]

Just another one hour pullback.

This bull is strong. Addicted to Fed-meth... but still strong and can keep bucking off riders that don't wear Birchtree-like sticky-pants.

 

[tsptalk]

Uh, oh small caps...

 

[tsptalk]

Reminder: Apple, Tesla, and Facebook report earnings after the bell today.

 

[joblin20]

Reminder: Apple, Tesla, and Facebook report earnings after the bell today.

Any idea how market will react?

 

[tsptalk]

Any idea how market will react?

So far so good.

Sorry I missed this yesterday, but I'm not sure my guess would have been better than 50/50.

 

[joblin20]

I think I am going to sit on the sidelines until we know for sure what is going to happen.

 

[tsptalk]

That first 60-point gain may have been the easiest. Now it has the 20-day EMA and a descending resistance line to deal with. The 50-day EMA has held so far so if the bulls are still in charge, a move back to 3800 will be next. If the bears are in charge, it could get stuck right about here.

 

[tsptalk]

The dollar is trying to make a move above the 50-day EMA, so I'm surprised stocks are doing so well.

 

[tsptalk]

It looks like the stay home economy stocks are lagging today after a big day yesterday (FUBO, ZM, etc.). Today it's the "go out and play" stocks working like MGM, cruise, oil, and other travel related companies.

 

[Bullitt]

I think that's the smart play for money going forward. Easy money has already been made in tech, EV, etc. Why jump on a trade that is so crowded when many activities will resume?

Are we really supposed to think people are going to stop traveling, going to sports events, going to large concerts? I don't, especially with savings levels, vaccine distributions, and COVID fatigue levels rising.

 

[tsptalk]

New highs for credit market ETF (HYG).

Bonds (BND) fill the open gap below and reverse.

The dollar continues its bounce - for some reason. Are investors worried about the stimulus?