The day of the Muellar report, producing indecisive movements in the markets. The NASDAQ and the S&P 500 are trading lower, sitting right on the T-line, the Dow is trading slightly higher after opening much higher and the transportation index still maintaining a strong uptrend. Overall prognosis, slow indecisive uptrend. Stay predominantly long but there are numerous short positions that will produce good profits. … [Read More...]
The weakness Today in the Dow is not being confirmed by the other indexes. The NASDAQ is trading positive, not real strong, but continuing to indicate the lack of any major selling pressure in the overall market. The transportation index is up strong after supporting at the T-line yesterday. Allow each candlestick signal and pattern to be the main investment factor. The uptrend is still in a slow uptrend. … [Read More...]
The consistent trading above the T-line of eliminates the concern about individual indexes backing and filling when the other indexes are maintaining a slow, consistent uptrend. Today, the transportation index, after trading lower yesterday, opened in the T-line area and started trading up from that level, revealing the T-line is acting as a support for all the indexes. Continue to stay long until there is a major reversal signal witnessed in the major indexes. … [Read More...]
Boring! Today's selling does not indicate any major change of investor sentiment so far. There does not seem to be any dramatic bullish or bearish pressure influencing the market trend Today. Although the indexes are trading lower, they are not forming any sell signals and the indexes continue to trade above the T-line. Today appears to be setting up as a sit and watch day. The current trend remains in progress, provided there is no excessive selling Today. … [Read More...]
Today's positive trading is not seeing the big stocks AAPL, NVDA, AMZN etc. participating. This is not a negative, it merely indicates the markets are experiencing rotating versus across-the-board buying. Obviously, the uptrend remains in progress. The candlestick pattern confirmations are producing the bigger profits during this uptrend. BA is a big contributor to the Dow being strong. … [Read More...]
April 18th Daily Market Comments
The day of the Muellar report, producing indecisive movements in the markets. The NASDAQ and the S&P 500 are trading lower, sitting right on the T-line, the Dow is trading slightly higher after opening much higher and the transportation index still maintaining a strong uptrend. Overall prognosis, slow indecisive uptrend. Stay predominantly long but there are numerous short positions that will produce good profits. … [Read More...]