I think it was the other way around. The RUT was very strong all day yesterday. I know - I was short it.
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tsptalk's Market Talk
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RealMoneyIssues
Well-known member
Yeah, me too... oh well, I have a little in TNA now to offset my TZA losses until I can get it back.I think it was the other way around. The RUT was very strong all day yesterday. I know - I was short it.
BTW, which NASDAQ are you referring too... composite or 100?
I usually look at the composite, only because that is what flashes on the TV quotes.
RealMoneyIssues
Well-known member
Gotcha, thanks
RealMoneyIssues
Well-known member
S&P 1201.50 seems to be acting as support now...
Been hit twice now and bounced; kinda wondering if the bulls can maintain it if the bears push down for another test
Been hit twice now and bounced; kinda wondering if the bulls can maintain it if the bears push down for another test
RealMoneyIssues
Well-known member
S&P pushed through resistance at 1204 and hit 1207, but it looks like it is falling apart... lets see if there is some consolidation here and then more up...
Before the sell off in about 45 mins to an hour...
Before the sell off in about 45 mins to an hour...
I stand corrected. :embarrest:
Happy_Trails
Active member
A relatively smooth ride up today.
Frixxxx
Moderator
It should have run out of steam...but financials got some lift and some lemmings joined the fray (major volume)
Don't we all eat some of that pie?
Happy_Trails
Active member
You never know what will happen within the hour of a Fed policy statement, or after, but look at the market leader...
Tom,
Was wondering how often the initial reaction to Fed announcements tends to reverse within the next few days after the announcement? Do you know?
Only in general... the action of the day of, and the day after, the Fed's decision tends to reverse within days. That is going back years, but it seems over the last year or so the reversal has been quicker. But I have no stats or examples so it is just an observation and something that SentimenTrader wrote about a few years ago.
A couple of weeks ago I posted that options traders were getting heavy into the XLF puts. The XLF was 12.23 back then and is still 11.90. If they are right we have a long way to go on the financials.
http://www.tsptalk.com/mb/showthread.php?7701-Market-Outlook&p=330978#post330978
Frixxxx
Moderator
We have bounced back up to 1140 (1142 as I type) hmmmmm.....should I throw good money @ bad money.........
The Dow Transports are making new lows this morning.
I still think we are setting up a good buying opportunity but the S&P bear flag target was somewhere in the 980 area, and the head and shoulders target is in the neighborhood of 1070, so I won't try to pick a bottom until I see something bullish. The neckline / bottom of the bear flag could act as resistance on the way up so that will be a test to watch.
I still think we are setting up a good buying opportunity but the S&P bear flag target was somewhere in the 980 area, and the head and shoulders target is in the neighborhood of 1070, so I won't try to pick a bottom until I see something bullish. The neckline / bottom of the bear flag could act as resistance on the way up so that will be a test to watch.
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