The market indexes are back in an indecisive mode, the Dow closed at the lower end of its trading range yesterday even though it ended up closing positive. This lack of buying is much more visually identifiable based upon the candlestick formations. The current market indecisiveness is illustrated with weakness following through in the Dow today while the NASDAQ is in a bullish bounce after some hard candlestick sell signals of the past few days. Expect some more sideways/lower consolidation for the next few trading days. Any long positions need to have compelling reasons to stay long. Short positions should be experiencing good profitability.
December 5th Daily Market Comments
The market indexes are back in an indecisive mode, the Dow closed at the lower end of its trading range yesterday even though it ended up closing positive. This lack of buying is much more visually identifiable based upon the candlestick formations. The current market indecisiveness is illustrated with weakness following through in the Dow today while the NASDAQ is in a bullish bounce after some hard candlestick sell signals of the past few days. Expect some more sideways/lower consolidation for the next few trading days. Any long positions need to have compelling reasons to stay long. Short positions should be experiencing good profitability.