August 16th Daily Market Comments

Today’s positive trading in the indexes are creating trend kicker signals. This produces a high probability outcome of more upside provided the markets close positive today. It is also producing J-hook patterns. This is consistent with the characteristic of this uptrend, steady up moves followed by profit-taking followed by steady uptrend. There are still numerous short positions that are working well in this market. Continue to have both long and short positions in the portfolio.

 

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