The graphics of candlestick charts clearly show the indexes utilizing the moving averages as support potential. The NASDAQ is trading right on the T-line, the Dow is trading in decisively at the 3T-line. The overall analysis is that the markets are trading lower but in decisively. The trend analysis remains simple, the uptrend remains in progress as long as there is not a close below the T-line. Specific sectors continue to act well, i.e. biotech’s. Stay with the strong sectors and have a few short positions in the portfolio.
March 3rd Daily Market Comments
The graphics of candlestick charts clearly show the indexes utilizing the moving averages as support potential. The NASDAQ is trading right on the T-line, the Dow is trading in decisively at the 3T-line. The overall analysis is that the markets are trading lower but in decisively. The trend analysis remains simple, the uptrend remains in progress as long as there is not a close below the T-line. Specific sectors continue to act well, i.e. biotech’s. Stay with the strong sectors and have a few short positions in the portfolio.