Although the indexes are trading higher this morning, they are trading at the same levels as where they opened, creating Doji’s. The Dow has formed Doji’s each day for the past few days. The S&P 500 and NASDAQ have traded higher over the past few trading days but closing below where they opened. This indicates the Bullish strength of this uptrend is starting to diminish. Stay long but be careful. Having a few short positions in the portfolio is still prudent.
October 16th Daily Market Comments
Although the indexes are trading higher this morning, they are trading at the same levels as where they opened, creating Doji’s. The Dow has formed Doji’s each day for the past few days. The S&P 500 and NASDAQ have traded higher over the past few trading days but closing below where they opened. This indicates the Bullish strength of this uptrend is starting to diminish. Stay long but be careful. Having a few short positions in the portfolio is still prudent.