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April 20 Daily Market Comments

Today's positive trading continues to illustrate the nature of the market indexes, very indecisive and still in the middle of a sideways trend channel. The prognosis remains the same, continue to hold long positions that do not show sell signals and closes below the T-line and continue to have short positions in the portfolio. Until there is a breakout of the top of the wedge formation, the market is still in a sideways mode. … [Read More...]

April 16 Daily Market Comments

The Dow and the S&P 500 are still trying to push through the top of the wedge formation. A lower trading day in the indexes would indicate the top of the wedge formation is still acting as resistance, look for more sideways market. … [Read More...]

April 15 Daily Market Comments

After yesterday's early consolidation, the afternoon buying illustrated the T line was still acting as a bullish support. Currently, today's positive trading is pushing through the upper trend channel of the wedge formation. … [Read More...]

April 14 Daily Market Comments

Today's weakness further confirms yesterdays bearish Harami's that indicated a failure to breakout of the top of the wedge formation. Crude oil is still in a J-hook pattern, today producing a Doji sandwich pattern, implying crude oil is still moving higher. The oil stocks are in J-hook patterns. The markets in general are still in a sideways mode, making investing very stock specific. … [Read More...]

April 13 Daily Market Comments

The Dow and the S&P 500 are trying to push through the top of the wedge. The NASDAQ and the transportation index are also trading positive today, indicating bullish sentiment is across-the-board. Continue to stay long but it will be important for the Dow and the S&P 500 not to show an indecisive trading day at this resistance level. … [Read More...]

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