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tsptalk's Market Talk
- Thread starter tsptalk
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DreamboatAnnie
Well-known member
FWM: Really like your chart! Very informative. Will be watching closely. But when will it drop....??????????
fedgolfer
Well-known member
EFA and UDN pop look favorable for I-funders today... albeit very gappy on the EFA daily. Weekly EFA sticks and bollys getting close to overbought. Toss up in the short term/med term, and long-term looks like a measured bull move once the short/med term pullback some. Wash, rinse, repeat. All while people condemn the central banks even when they've telegraphed the message since day 1.
I think the dollar is reacting this morning to the continued tapering, and the debt ceiling being raised without any serious cuts in spending. The UUP gapped down hitting 2 year lows...
There is an open gap from 2011 that may be the next test if the dollar doesn't snap back into the trading range (21.50 - 23.00 on the UUP).
The drop in the dollar helped push gold up. Gold has been in sell the rally mode but if the dollar breaks down, we could see it bottom here.
Surprisingly, the weak dollar is not keeping oil higher, although it opened much lower and is trying to crawl back above the head and shoulders neckline and the rising support line. If the economy is slowing, this may be where we see it first in the form of a breakdown.
Despite all this, the stock charts look good, perhaps because of the weakening dollar?
There is an open gap from 2011 that may be the next test if the dollar doesn't snap back into the trading range (21.50 - 23.00 on the UUP).
The drop in the dollar helped push gold up. Gold has been in sell the rally mode but if the dollar breaks down, we could see it bottom here.
Surprisingly, the weak dollar is not keeping oil higher, although it opened much lower and is trying to crawl back above the head and shoulders neckline and the rising support line. If the economy is slowing, this may be where we see it first in the form of a breakdown.
Despite all this, the stock charts look good, perhaps because of the weakening dollar?
That would go along with the post 1995 - 96 shutdown reaction...
(this was posted in today's TSP Talk Plus report - there's free access today for anyone interested)
(this was posted in today's TSP Talk Plus report - there's free access today for anyone interested)
fedgolfer
Well-known member
Yup, makes sense too. Institutions hand off to the little guy after what feels like an all-clear sign. But then they let it fall to just buy in at a better price. Honestly, no big deal in the big picture since it puts in a higher floor. Big guys just shaving points.
Birchtree
Well-known member
Let's try one more time and see if I can get it right without being offensive to any members. I believe the weakening dollar today is a reflection of the policies and regulations being produced by a lack of integrity from the White House. This weakness could last several months and benefit the I fund.
NiteFlyer
Member
I was thinking the same thing this morning. I put in my IFT to the G today and will probably get back in tomorrow or Monday (waiting for the drop).
Make that +123. :nuts: They didn't have to wait for tomorrow.
I'll say no. But the market closed 2 hours ago so it was an easy one for me.
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