tsptalk's Market Talk

[crws]

There are those who believe that QE2 and many other government actions will save the global financial markets, and those like top corporate insiders who know better.

--Steven Jon Kaplan

http://www.truecontrarian.com/

Robo-
Missed you lately, you dig up a vast variety of information.
Thanks!

 

[tsptalk]

If you are afraid of chasing this rally, we could be just at the start of this next move. And if support breaks (under 1175 right now), we'll know we were wrong. If 1200 is taken out, there's lots of room to run.

 

[JTH]

If you are afraid of chasing this rally, we could be just at the start of this next move. And if support breaks (under 1175 right now), we'll know we were wrong. If 1200 is taken out, there's lots of room to run.

Today was a strong gap up from the previous close, we could be setting up an intermediate 1175-1200 trading range, perhaps another buying opportunity for folks like me who sat this one out.

 

[JTH]

Another side-note if your looking for a reason to be more positive than negative. The VIX has retraced a higher percentage of its wave, when compared to the major indexes. Laymans terms: So far today, fear went down more than prices went up.

 

[Birchtree]

I don't know but it smells like a potential Elliott Wave 3 of 3 starting to perk - the epi center of an enormous advance. This is known as the point of recognition. The A/D line is not diverting, and it's very rare that price will top without A/D divergence. Don't play on the tracks.

 

[Bullitt]

Don't play on the tracks.

Good advice, but who's playing on the tracks?

Broken uptrend in NYMO along with lower low divergence.

View attachment 10231

 

[fedgolfer]

past few weeks i've seen some pretty crowded shopping in Chicago (Michigan Ave), NYC (mid town), and DC (g-town). The local malls in Bethsda have always been packed, but lately I've seen everyone walking around with tons of bags. The restaurants all have long waits again. People are traveling on holidays and saving for bigger purchases. Retail is obviously booming... have you seen the retail ETFs and luxury brands?! Now is not the time to be calling for a long term top.

 

[Birchtree]

10-4

 

[fedgolfer]

http://stockcharts.com/h-sc/ui?s=AGG&p=D&yr=0&mn=9&dy=0&id=p80141141677

Here comes the capital preservation crowd. There is no safety in the F Fund for the forseable future until price gets above the clouds again.

 

[tsptalk]

Big test for the S&P 500...

 

[FAB1]

I believe we are gonna eke thru this day with some kind of last hour rally that wont get quite out of the red. and...

Tomorrow the world ends.

 

[FAB1]

Up up and away - Pretty weird looking mid-day movement there, Chauncy.

 

[tsptalk]

I think Yahoo had a problem with their data / charts for a while today. That's why the chart looks "weird".

 

[FAB1]

YEE HAW ridem cowboy - (wow I was right thats scary)

hope Im wrong about tomorrow:nuts:

 

[FAB1]

08:30 am : [BRIEFING.COM] S&P futures vs fair value: -11.20. Nasdaq futures vs fair value: -22.20. Contagion concerns continue to drive selling, such that futures for the S&P 500 have tested the 1175 line,

Boil, boil, toil and trouble

Dont say I didnt warn ye! This is the end! :laugh:

 

[tsptalk]

Small caps making a move...

 

[tsptalk]

Wow! Obama tried to explain his reasoning for the tax cut compromise at the press conference... and stocks headed south.

S&P 500 needs to hold above positive territory and the early Nov high.

 

[tsptalk]

Wow! Obama tried to explain his reasoning for the tax cut compromise at the press conference... and stocks headed south.

It sounds like a pick up in the SEC's probe on insider trading also helped push the indices down.

 

[tsptalk]

The reversal was not a good sign, but the S&P closed above the prior highs, the Nasdaq and Transports (leaders) closed in positive territory, and the Russell 2000 (small caps) held onto a 1% gain. Not too bad overall.

 

[tsptalk]

The reversal was not a good sign, but the S&P closed above the prior highs, the Nasdaq and Transports (leaders) closed in positive territory, and the Russell 2000 (small caps) held onto a 1% gain. Not too bad overall.