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The Russell 2000 filled the small open gap and the lows have been holding so far, at the rising support line.

070714a.gif
 
Talk about a post-holiday reversal. All of last week's gains were lost on the Russell yesterday.
 
http://finance.yahoo.com/news/wal-mart-looks-to-grow-by-embracing-smaller-stores-155257090.html Interesting long read about Walmart and its future. Discusses some of the capitalistic/risk-taking moves it has and is undertaking on big scale. A window into the big business decisions and attempts. Of course the Board and owners would have a much easier job of keeping the company competitive, viable, a continuing employer for thousands of families, etc. if wages were raised to $15/hr, healthcare offered to all workers, guns were banned,....
 
Good Pre-Market post in NewsFeeder thread.


Market mover today should be FED minutes released at 2pm..

Market mavens may have be expecting a more hawkish tone on interest rates which has
contributed to 2 day Market slide. If there is no such tone in today's minutes than should boost Markets..
 
I noticed the main headline on the Drudge Report is "STOCKS TUMBLE".

We weren't even down 1%. Here we are just off all-time highs and a we see folks still cringing on any drop.

I think the lofty levels of the indices have some confused about the size of losses. A 100-point drop now, with the Dow near 17,000, is not the same as a 100-point drop when the Dow was 7000 in 2009. I'm more concerned about any technical chart damage.

There was some damage done in Europe and that may be what the article was about. I guess I should read it.
 
tsptalk said:
I think the lofty levels of the indices have some confused about the size of losses. A 100-point drop now, with the Dow near 17,000, is not the same as a 100-point drop when the Dow was 7000 in 2009. I'm more concerned about any technical chart damage.
Click to expand...
Couldn't agree more Tom:
[TABLE="class: grid, width: 215"]
[TR]
[TD]Dow Jones
[/TD]
[TD]Drop
[/TD]
[TD]Percentage
[/TD]
[/TR]
[TR]
[TD="align: right"]1000
[/TD]
[TD="align: right"]100
[/TD]
[TD="align: right"]10.000%
[/TD]
[/TR]
[TR]
[TD="align: right"]7000
[/TD]
[TD="align: right"]100
[/TD]
[TD="align: right"]1.429%
[/TD]
[/TR]
[TR]
[TD="align: right"]17000
[/TD]
[TD="align: right"]100
[/TD]
[TD="align: right"]0.588%
[/TD]
[/TR]
[TR]
[TD="align: right"]20000
[/TD]
[TD="align: right"]100
[/TD]
[TD="align: right"]0.500%
[/TD]
[/TR]
[/TABLE]
 
The S&P (SPY) is following through on last week's positive reversal days, but Monday morning gaps tend to get filled quickly. But even if it is filled, there's support below and as long as the support holds...

071414c.gif
 
I'd sure like to see below chart updated through 2013-2014.


Other commentators have said when we have a jump like today prior to Options Expiration, the Markets may be down BIG Friday
post Ops EX.,
 
It seems like Friday options days are generally not movers - unless I say that and then they are wild. :)

There is definitely options "playing". There are numbers they want to pin on the indices where the most money will be made (or taken away from the dumb money) in options, and the following week things normalize so the tendency is a positive options week, and a weaker post options week.
 
This chart could bounce off the 200-day EMA but it is a nasty bear flag that does not look good for France (which makes up about 10% or our I-fund).

073014a.gif
 
We're getting a little bounce here and I don't know where the indices will close, but I think we will see green at some point today. Whether the indices are bottoming or forming a bearish bear flag, a higher high today (over yesterday) would be created either way. But again, that doesn't mean they will close in positive territory (although they could). I'm just looking for some kind of higher high today at some point. Probably up to the 50-day EMA.

080514a.gif
 
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