November 6th Daily Market Comments

The markets continue to show slow bullish strength. The big stocks,NVDA, AMZN, AAPL are maintaining steady bullish uptrends. Pattern breakouts are working, such as wedge breakouts in NFLX and ZYNE. As long as the overall market trend continues its steady but slow uptrend, the big profits are going to be made in pattern breakouts. Continue to stay predominantly long and maintain the short positions i.e. WATT as long as It does not demonstrate bullish reversal signals.

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November 3rd Daily Market Comments

Nothing has been changed, today’s relatively flat trading in the markets are demonstrating the uptrend remains in progress. This has made some candlestick breakouts very profitable. JUNO and BLUE have produced some big gains due to the bullish flutter kicker. Breakout patterns produce much stronger gains when it can be analyzed that the overall market is not showing any dramatic change of direction. The slow market movement still makes having both long and short positions in the portfolio of viable trading strategy.

 

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November 2nd Daily Market Comments

The devil may be in the details! Everybody anticipates the tax cuts should boost the market, but the details of the tax cut may throw the politicians into a tizzy. The anticipation of how hard it will be to get the tax bill passed may have a deterrent on the market trend. This still requires attention to each individual stock chart, with long positions not demonstrating reversal signals and staying above the T-line while short positions should not be demonstrating buy signals and a close backup above the T-line. This needs to be watched more diligently based upon the potential of political rhetoric whipsawing the markets. Be ready to go more into cash if the markets start showing choppy reactions of political blubbering.

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November 1st Daily Market Comments

The tax plan delayed for a day, bad? Today’s bullish trading in the markets may be the acknowledgment that a tax plan is about ready to be presented. Whatever the reason, it doesn’t matter. The markets continue to demonstrate bullish sentiment. Is this exuberance at the top? Less likely, due to the fact that the S&P 500 and the Dow have been in a sideways consolidation for the past week and a half. If today’s bullish trading remains strong going into the close, that would indicate the next leg of the uptrend is likely in progress. The trading strategy remains the same. Stay predominantly long but have some short positions in the portfolio as a safety factor. There are numerous chart patterns providing good trades in both directions.

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October 30th Daily Market Comments

The market trend analysis remains the same. Specific stocks and sectors continue to act well based upon the strength of individual stock chart candlestick patterns. The NASDAQ continues the uptrend, the S&P 500 and the Dow are still in a sideways mode and the transportation index is drifting lower. This illustrates merely the shifting of funds from sector to sector, oil stocks remain strong while retail stocks are trading lower. This allows for having both long and short positions in the portfolio working profitably.

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October 30th Daily Market Comments

The market indexes still do not show any change of investor sentiment. Although the Dow and S&P 500 are trading lower Today, they are trading indecisively, Doji days so far. The NASDAQ is trading positive, further confirming the best friend signal of last week. The biggies such as AMZN, NVDA , NFLX continue to trade higher, indicating bullish sentiment has not yet left the markets. Simple trend analysis, the uptrend remains in progress as long as they continue to trade above the T-line. The oil sector is acting strong, with good bullish signals.

 

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October 27th Daily Market Comments

The NASDAQ up hundred points but the Dow is down slightly, the S&P 500 is up, the transportation index is flat. What should be the overall prognosis of the market trend? There is not any major change of investor sentiment. Merely a shifting of funds from sector to sector. Stay predominantly long but obviously the volatility that is occurring requires being very diligent as far as watching for sell signals in individual stock positions. This is why Trend Analysis is so important.

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October 26th Daily Market Comments

The strength in the Dow today is pulling the transportation index backup. The prospects of a tax cut continues to add strength, or at least is not allowing investor sentiment to turn bearish, to the overall market trend. The NASDAQ and S&P 500, although not trading with the same strength as the Dow, are currently illustrating small gains. What potentially looked like bearish sentiment taking control of the market trend yesterday is being offset by new bullish influence today. The best way to keep from being whipsawed is to utilize the T-line as the final reversal confirmation.

 

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October 25th Daily Market Comments

Yesterday, although the Dow traded up stronger, the other indexes did not show any great strength. This was a potential red flag that the Bulls were running out of steam. The NASDAQ and the S&P 500 are currently trading below the T-line. The transportation index is selling off with the greatest movement, trading well below the T-line. Stochastics are heading down after sell signals in the indexes. Other than the Dow, the NASDAQ, the S&P 500, and the transportation index are indicating the sellers are starting to take control. Be prepared to take profits on bullish charts that are start to show sell signals and heading below the T-line. Expect some downtrend for the next few days until there is another Bullish reversal signal.

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October 24th, Daily Market Comments

The Dow is showing excessive strength, a trend Kicker signal Today. But the NASDAQ and S&P 500, although trading positive are not showing any great strength from where they opened. Yesterday’s big bearish engulfing signal in the NASDAQ was the first major sign of sellers coming into the market. The uptrend is still in progress but there are definite signs of consolidation/weakness. Continue to hold long positions that are not showing sell signals and/or trading back below the T-line. The exuberance being exhibited in the Dow needs to be carefully watched. Be prepared to take profits on any indications of candlestick sell signals being confirmed.

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