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May 24th Daily Market Comments

Today's positive trading after yesterday's Doji in the indexes is the confirmation needed to indicate a major change of investor sentiment. All the indexes are currently trading above the T line. The Dow is currently nudging the 50 day moving average but the NASDAQ and S&P 500 have gone right through the 50 day moving average. The uptrend is in progress provided the markets do not close back near the low end of their trading range today. … [Read More...]

May 20th, 2016

Today's bullish trading is significant, it is bringing the NASDAQ and transportation index backup above the T-line. The S&P 500 is trading right at the T-line, but the Dow is still trading below the T-line. This implies a possible reversal of the downtrend, however the final criteria is the close above the T-line. It will be important to see how the indexes close going into the end of the day. Keep in mind, a downtrend usually experiences buying in the morning followed by selling later in the day. Any long positions established today need to be watched. … [Read More...]

May 18th, Daily Market Comments

Today's positive trading in the markets is not yet showing anything that is changing the slow downward direction of the market trend. The Dow S&P 500 are trading below the T line. The NASDAQ is currently just nudging the T-line. The transportation index is showing the most strength, indicating the market trend is more likely to be in a slow downward drift versus a hard selling. State law in a strong sectors, oil, gold, and the Biotech's. The retail area can be shorted. … [Read More...]

May 17th Daily Market Comments

The expected consolidation is just that, although the Dow, S&P 500, and the NASDAQ are showing profit-taking after yesterday's big price move, the transportation index is up extremely strong. This indicates there is not any consensus selling in this market, merely profit-taking. However, it will be important to see the indexes staying near the T-line area today. There are both long and short positions working well in this market. … [Read More...]

May 16th Daily Market Comments

Although the markets are trading positive today, keep in mind that the downtrend remains in progress until there is a candlestick reversal signal and a close above the T–line. However, crude oil and gold are showing good strength. Both of those sectors are showing strong stock candidates. … [Read More...]

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