tsptalk's Market Talk

[tsptalk]

Did the futures drop right after the cash market closed on Thursday? All the futures quotes are basically flat, but the flat line doesn't start until 4:15 PM ET. So if the futures dropped between 4:00 PM and 4:15 PM ET, that would not be part of tonight's futures quote. That would be a positive fair value that gets taken off the futures quote (I know, it's confusing) to determine the possible opening price.

The reason I ask is because Bloomberg TV shows a sharp drop on the 2-day chart right after the close today, despite showing the futures as flat.

 

[nnuut]

I quit trusting Bloomberg after I found out which Bloomberg owns the company! Put down that LARGE COKE!

 

[tsptalk]

Interesting day. Dow up. S&P down modestly at -0.25%. Transports down about a half percent. Nasdaq and Russell getting pounded with each down over 1%.

 

[Frixxxx]

Interesting day. Dow up. S&P down modestly at -0.25%. Transports down about a half percent. Nasdaq and Russell getting pounded with each down over 1%.

And the dip buying begins.....

 

[Birchtree]

Rotation is good as more brokerage firm strategists have waved the white flag and ditched their pessimistic predictions. A healthier U.S. economy, solid corporate profits and low interest rates have persuaded many bearish analysts that a major pullback for stocks isn't in the cards at least well into next year. A few bumps in the road actually helps a buy and holder such as bulldaddy - better days ahead for the next five years. That means millions of dollars for a guy like me.

 

[tsptalk]

The SPY is testing both sides of the falling wedge this morning...

 

[Dutchy]

Per Wall Street Journal, the FED will keep "for considerable time" in statement tomorrow about low interest rates..
Soothing the Markets...

Dow Hits New Record Intraday-High Ahead Of Fed & Scottish Uncertainty | Zero Hedge

 

[tsptalk]

Here goes the Russell again, flirting with the 200-day EMA. The lower end of the wedge may be tested next, but will stocks breakdown during the October prior to a mid-term election? The chart might suggest that, but it's not historically typical. Now September? That's a different story. Septembers are typically weak during mid-term years so the market has a week or two to be careful.

This is an old chart so the "You are here" is not correct. We're obviously in September...

 

[tsptalk]

The SPY is looking for support here. 20-day EMA, rising support, and old resistance turned possible support. Good test on a bad day.

 

[tsptalk]

The Russell 2000 is trying to hold onto a double bottom after breaking rising support line earlier this week...

 

[bmneveu]

Cup n Handle forming on SPY 15 min. chart?

 

[tsptalk]

I've been watching an even shorter time frame (1 min) looking for a feel and a place to trade but there have been very few 1-minute red bars since about 1 PM ET. Relentless buying.

 

[tsptalk]

The Russell broke its long-term rising trading channel a long time ago. Will the S&P's hold?...

 

[tsptalk]

The Russell 2000 pulled back after hitting resistance this morning, then filled Friday's small open gap. Interesting situation - make or break for the "bottom".

Monday morning gaps tend to get filled quickly, but where they go from there is the key.

 

[tsptalk]

Look for a possible afternoon spike after the Fed goes shopping...

[TD="class: xl67, colspan: 5"]Purchase Operations[/TD]

[TD="class: xl65"]Operation Date[SUP]1[/SUP][/TD]
[TD="class: xl65, width: 142"]Settlement Date[/TD]
[TD="class: xl65, width: 152"]Operation Type[/TD]
[TD="class: xl65, width: 95"]Maturity Range[/TD]
[TD="class: xl65, width: 187"]Expected Purchase Size[/TD]

[TD="class: xl66, width: 145"]Mon, Oct 06, 2014[/TD]
[TD="class: xl66, width: 142"]Tue, Oct 07, 2014[/TD]
[TD="class: xl66, width: 152"]Outright Treasury Coupon Purchases[/TD]
[TD="class: xl66, width: 95"]11/15/2021 - 08/15/2024[/TD]
[TD="class: xl66, width: 187"]$1.40 - $1.70 billion[/TD]

[TD="class: xl66, width: 145"]Tue, Oct 07, 2014[/TD]
[TD="class: xl66, width: 142"]Wed, Oct 08, 2014[/TD]
[TD="class: xl66, width: 152"]Outright TIPS Purchases[/TD]
[TD="class: xl66, width: 95"]01/15/2019 - 02/15/2044[/TD]
[TD="class: xl66, width: 187"]$0.25 - $0.35 billion[/TD]

http://www.newyorkfed.org/markets/tot_operation_schedule.html

 

[jkenjohnson]

Look for a possible afternoon spike after the Fed goes shopping...

[TD="class: xl67, colspan: 5"]Purchase Operations
[/TD]

[TD="class: xl65"]Operation Date[SUP]1[/SUP]
[/TD]
[TD="class: xl65"]Settlement Date
[/TD]
[TD="class: xl65, width: 152"]Operation Type
[/TD]
[TD="class: xl65, width: 95"]Maturity Range
[/TD]
[TD="class: xl65, width: 187"]Expected Purchase Size
[/TD]

[TD="class: xl66, width: 145"]Mon, Oct 06, 2014
[/TD]
[TD="class: xl66, width: 142"]Tue, Oct 07, 2014
[/TD]
[TD="class: xl66, width: 152"]Outright Treasury Coupon Purchases
[/TD]
[TD="class: xl66, width: 95"]11/15/2021 - 08/15/2024
[/TD]
[TD="class: xl66, width: 187"]$1.40 - $1.70 billion
[/TD]

[TD="class: xl66, width: 145"]Tue, Oct 07, 2014
[/TD]
[TD="class: xl66, width: 142"]Wed, Oct 08, 2014
[/TD]
[TD="class: xl66, width: 152"]Outright TIPS Purchases
[/TD]
[TD="class: xl66, width: 95"]01/15/2019 - 02/15/2044
[/TD]
[TD="class: xl66, width: 187"]$0.25 - $0.35 billion
[/TD]

Tentative Outright Treasury Operation Schedule - Federal Reserve Bank of New York

Interesting. What time does this occur?

 

[OBXTrader]

Already happened, good call Tom. Did you buy in advance?

Interesting. What time does this occur?

 

[tsptalk]

No. I don't really trade with that short of an outlook. Days, not minutes or hours for me.

 

[tsptalk]

1940-1942 looks like an area that needs to hold for the reversal to remain valid. It can go lower, but it loses some of the "bottom" look.

 

[law87]

ouch