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February 27 Daily Market Comments

The consolidating nature of the markets remain in progress. Early selloffs are followed by buying. The trend remains in progress with good consolidation/profit-taking along the way, keeping investor exuberance out of the picture. Continue to stay predominantly long but now might start adding a few short positions to the portfolio. … [Read More...]

February 26 Daily Market Comments

The nature of the trend continues, backing and filling but with a bullish bias by the end of the day. Today the NASDAQ is continuing to trade higher while the transportation index and the S&P 500 has consolidated back to the T-line, which continues to act as support. Continue to stay predominantly long until you see obvious sell signals in all of the major indexes. … [Read More...]

February 25 Daily Market Comments

The nature of this uptrend remains the same, slow upward movement with consolidation along the way. … [Read More...]

February 24 Daily Market Comments

The market indexes continue to show consolidation on a daily basis, profit-taking usually early in the day with buying coming back in later. The profit-taking during the uptrend usually creates a much more solid/sustained uptrend. Continue to utilize the strong candlestick charts. … [Read More...]

February 23 Daily Market Comments

Although the indexes are showing consolidation at important resistance levels, they have not shown any decisive reversal signals. The Dow is testing the December high. The transportation index is trying to breakout of the down trending resistance level. The lack of buying/selling pressure in the markets imply the current uptrend remains in progress. Continue to hold long positions where the individual charts continue to demonstrate strength/candlestick patterns. … [Read More...]

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