Archives for May 2016

May 9th Daily Market Comments

The positive trading of Friday created potential reversal signals in all the indexes. Today’s positive trading has not yet breached the T-line. Currently the T-line is still a very important downtrend been factor. Short positions still remain the prominent bias of the portfolio. Gold and oil have hit congestion/resistance levels, making those sectors non-bullish prospects at this point.

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May 5th Daily Market Comments

A bullish day, the markets trading positive? The graphics of candlestick signals provide much greater clarity as to what the trend of the market is actually doing. Although trading positive, the indexes are trading below where they opened. This provides immediate verification that there isn’t any compelling strength yet in this market trend, merely a positive open. Anticipate the Dow and S&P 500 to test the 50 day moving average, implying some more downside.

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May 4th Daily Market Comments

The indexes continue to trade below the T-line, expect the Dow and the S&P 500 to test the 50 day moving average within the next few days. The strategy remains the same, have both long and short positions in the portfolio but obviously more oriented to the short side for the short term.

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May 2nd Daily Market Comments

The NASDAQ is trading slightly positive. Currently it is producing a bullish Harami/Doji right on the 50 day moving average with stochastics just getting into the oversold condition. It will be very important to see how the indexes finish the day. But the nature of the market continues, strong sectors remaining strong with weak sectors remaining weak. There are very good uptrending positions as well as good bearish positions.

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