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August 29th Daily Market Comments

Today's current buying needs to be seen going into the close. However, the overall trajectory of the market, especially in the Dow, looks like a slow drift back toward the 50 day moving average. This sideways/slow downtrend coincides with the summer doldrums. This week, more than likely, will maintain its indecisive trading. Next week, when everybody is back to their desks, the market will more likely start showing decisiveness. … [Read More...]

August 26th Daily Market Comments

Thursday's Doji in the indexes gave a good trend analysis tool for today's trading. The positive trading, after Yellen's announcements, continues to reveal the sideways trajectory of the market. Had the markets opened lower today, the probabilities of a downward trajectory was much greater. Currently the Dow and the S&P 500 and the NASDAQ are forming Morning Star signals, producing the prospects of a mini scoop pattern. This would imply a possible slingshot effect to the upside if the markets close near the high end of their range today. Continue to stay predominantly long, having a few short positions in the portfolio. … [Read More...]

August 24th Daily Market Comments

The general market is drifting sideways, not showing any direction. However, the biotech sector is still allowing for big profits. PBYI, SRPT and ENDP have produced very good candlestick patterns, frypan's and J-hook's. These market conditions warrant having trading funds in very specific sectors. Fortunately, candlestick charts allows for immediate graphic identification of where the money is going. … [Read More...]

August 22nd Daily Market Comments

Today's early selling did not amount to much, continuing to indicate there is no dramatic selling pressure showing up in this market. Likewise, there is no dramatic bullish pressure either. However, this still makes for identifying which sectors are acting the strongest. The biotech area remains strong. The drug delivery stocks are also gaining strength. The candlestick charts will demonstrate where most of the buying interest is occurring, especially in lethargic/sideways markets. … [Read More...]

August 19th Daily Market Comments

The nature of the market remains consistent with the current trend, no major buying pressure or selling pressure signals. The lethargic the summer doldrums uptrend remains in progress. Continue to trade the strong bullish patterns. As long as the market indexes continue to trade above the T-line, the uptrend remains in progress. … [Read More...]

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