April 13th Daily Market Comments

The NASDAQ is showing strength at the 50 day moving average. However, the Dow and S&P 500, currently trading slightly positive, still are trading below the T-line. This has to be viewed with the probability that the slow downtrend is still likely to be in progress. Support at the 50 day moving average, starting another uptrend, definitely requires a bullish reversal signal and a close above the T-line. Until then, let the short positions continue their downward trend until there is a definite reversal signal. This is why we recommend Trend Analysis.