September 8th Daily Market Comments

NASDAQ down, Dow up, opposite of yesterday’s trading. The Dow continues to demonstrate a wedge formation, using the 50 Day Moving Average as a support. The prognosis remains the same, have both long and short positions in the portfolio. The hurricane is influencing bullish trading in the building supply companies and bearish trading in the insurance companies. Candlestick patterns continue to work well, a frypan bottom in effect in NFLX and DVAX. Bearish J-hook patterns working in computer peripherals. There are good profits being made in both directions when the market in general continues to move sideways.

 

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September 6th Daily Market Comments

The markets remain in an indecisive mode. The NASDAQ trading lower Today is currently right on the T-line. The S&P 500 is trading right near the T-line, while the Dow and transportation index are trading higher. The sideways mode of the overall market trend is still obvious. Continue to have both long and short positions in the portfolio. Oil Stocks are showing strength with Crude Oil trading higher Today.

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September 5th Daily Market Comments

The weakness in Today’s trading has confirmed the Shooting Star/Doji Signals that occurred last Friday in the market indexes. Additionally, the indexes were nudging breakout levels but Today’s weakness in the markets demonstrates the lack of Bullish Strength to create breakouts into new territory. Most obvious is the Dow. Today’s lower trading illustrates a wedge pattern, indicating the prospects of more sideways movement in the markets. Be more defensive, bad news in world affairs is having more negative affect on the market trends. If the market closes decisively lower Today, add a few short positions to the portfolio. This is why we recommend Trend Analysis.

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September 1st Daily Market Comments

Expects some profit-taking today, but there is not yet anything showing any change of the bullish investor sentiment. The indexes are now approaching potential resistance levels. The transportation index has hit the 50 day moving average. The NASDAQ is approaching the all-time high of a month ago. However, overall there are numerous stocks that have come back and use the T-line as support and continuing their uptrends. This visual assessment indicates there is no real bearish pressure on the markets. Stay predominantly long but be prepared to take profits on any signs of weakness.

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August 31st Daily Market Comments

The Bullish trading Yesterday confirmed the market indexes Left/Right Combo Signals. The downtrending channel of the past month was breached to the upside yesterday, confirming the Left Right combo. This produce high probabilities that prices were moving higher. Knowing the high profit signals, such as the Doji Sandwich that is forming in NVDA and JKS, or the slow curve pattern that developed in CLMT, puts the candlestick investor and not only the right direction at the right time but also in trade set ups that will produce excessive returns. Currently, it has to be assumed the uptrend should be in progress, the probabilities indicate a wave three.

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August 30th Daily Market Comments

The Dow and S&P 500 are trading relatively flat, the same nature of how they have traded over the past few weeks. This is still a function of the summer doldrums as well as the lack of activity in Washington DC. However, the NASDAQ is showing a possible breakout of the Downtrending Channel after Yesterday’s Left/Right Combo signal. The market conditions are still producing the trading format for analyzing each individual stock chart on its own merit, the markets are not going to be a major influence.

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August 29th Daily Market Comments

The nature of the market has been indecisive for the past few weeks. An event like the North Korean missile rocket launch has a more bearish reaction that if the nature of the market had been solidly positive. However, after the Dow opened down 125 points, it has climbed up to where it is often only 40 points. This indicates the initial selling was merely a knee-jerk reaction versus the start of a major selloff. The Dow has currently supported at the 50 Day Moving Average but still indicating a sideways mode of the trend. The NASDAQ and the S&P 500 are not showing any aggressive selling, the NASDAQ trading well above its open. The lack of overall market direction continues to make each individual stock chart the top analytical factor.

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August 28th Daily Market Comments

Although the hurricane damage in Texas is dominating the news, the markets are not doing anything more relevant than what their existing trend sentiment was exhibiting all last week, merely sideways, noncommittal direction. This lack of direction can be contributed to the last week of the summer doldrums, as well as the hurricane throwing a little bit of indecision into most people’s market evaluation. Continue to use each individual stock chart as the prime analysis.

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August 25th Daily Market Comments

Today’s positive trading in the markets are still under the influence of the downtrending channel. The upper resistance level of the trend channel has not yet been breached. This puts the market sentiment still in a indecisive and possibly a lower trend channel continuation until the upper resistance level can be broken. Each individual stock chart and/or sector remains the main criteria for establishing long or short positions. Strong candlestick buy signals are easily identified, i.e. PI and strong sell patterns continue to demonstrate good short positioning, i.e.POOL.

 

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August 24th Daily Market Comments

The Resistance Level at the Downtrending channel top continues to act as a resistance level. This is probably the result of the gridlock in our nations capital. The indecisive trend still makes each individual stock and/or sector the prominent analytical factor. The drifting market makes identifying the ultra strong signals more important. Otherwise prices do not appear to have any great Bullish or Bearish forces to help them move.

 

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