tsptalk's Market Talk

[nasa1974]

CSI haven't reacted yet. Kind of flattened out for the lunch bunch. :suspicious:

 

[Birchtree]

Suspect an intraday head fake - noise.

 

[JTH]

Are you looking at the ^w4500? That would probably mean a top today or tomorrow? Is that correct?

Yes W4500, Not a top per say, just a minimum objective for which I would feel free to pull the ripcord and eject. We still have some overhead price resistance to deal with...

View attachment 14227

 

[coolhand]

That FOMC announcement will be key to how high we go. Or don't go.

Too bad those events happen after our noon deadline.

 

[RealMoneyIssues]

Too bad those events happen after our noon deadline.

That's their plan...

Dang TSP Day Traders (j/k seriously)

 

[Happy_Trails]

The volume still seems kind of anemic. I wonder if things will pick up the last hour? The FOMC announcement is tomorrow, right?

 

[hessian]

Anyone see this as possible? Nobody is talking about this as a possibility...
Forgive my rudimentary drawing skills:

 

[tsptalk]

Anyone see this as possible? Nobody is talking about this as a possibility...
Forgive my rudimentary drawing skills:

Thanks Hess! We've been keeping an eye on it, but perhaps its more denial on the bulls' part.

http://www.tsptalk.com/comments_archive/comments_7_5_11.html

An H&S is not always bearish in a bull market, but if that right shoulder does form we'd obviously see another test of the lows. The question I posed then (July 5) was would we see new highs or will the shoulder form first?

 

[hessian]

Hey Tom,
Sorry, I miss a day now and then. Given the start of today, seems we might get the shoulder. Thanks for being so alert for us all.
VR!

 

[Scout333]

Dead cat bounce or just dead cat?

 

[malyla]

"ACK!! Thbbft!" <Bill the Cat - Bloom County>

Dead cat bounce or just dead cat?

 

[tsptalk]

Dead cat bounce or just dead cat?

Not great action, but at least support is holding. Let's see what the last 30 minutes brings...

 

[Viva_La_Migra]

"ACK!! Thbbft!" <Bill the Cat - Bloom County>

Bill couldn't agree more with you!:blink:

 

[Appatite]

Not great action, but at least support is holding. Let's see what the last 30 minutes brings...

Well? Don't leave me hanging. I went all in COB for S fund. Did we find resistance at 1313?

 

[Scout333]

Believe so. But look out for the ugly international clouds over the horizon!

 

[law87]

Moody just downgrade Ireland

 

[fedgolfer]

To buttress a short-term bullish bounce, I think that both gaps in UDN are likely to get filled in this wave. But, I think we're going to stay in this flag/triangle until the big news headwinds get resolved.

 

[tsptalk]

The S&P, Nasdaq and Transports all hit their 50-day EMA today and so far have bounced off of it.

 

[tsptalk]

Another typical emotional Monday morning sell-off. They can usually be bought but unfortunatly the intraday reversals don't do much to help our "buy the dips" approach in the TSP. Something tells me we could see this again. Can you imagine what next Monday morning (Aug 1) will be like if no deal has been made?

I also understand that the Aug 2 deadline is not particularly significant so it will be interesting to see what happens as we continue to get closer. Apparently Geithner picked it arbitrarily, most likely because it happened to be when congress is due to go on its next recess.

So, the deadline is approaching, but it is not a drop dead date by any means - that is unless congress has vacation plans they don't want to cancel. But the closer we get, emotions will run high and the market will be volatile, regardless of the deadline's meaning.

 

[WorkFE]

Also read that because of higher tax receipts that date is pushed into the future a few weeks which if continued higher receipts could make that month/s.
Whatever, just do something you lazy azzez.