Currently the market indexes are creating Bullish Harami signals at the same levels the indexes bottomed out 3 to 4 weeks ago. However, the optimal word is currently. To create Bullish Harami signals today, the indexes need to close near the high end of their trading range. A close back near or below today’s open and most of the indexes would indicate the current downtrend was still in progress. Until the market indexes can show enough strength to close backup above the T-line, the downtrend has to be considered to be still in effect. Keep both long and short positions in the portfolio.
April 17th Daily Market Comments
Currently the market indexes are creating Bullish Harami signals at the same levels the indexes bottomed out 3 to 4 weeks ago. However, the optimal word is currently. To create Bullish Harami signals today, the indexes need to close near the high end of their trading range. A close back near or below today’s open and most of the indexes would indicate the current downtrend was still in progress. Until the market indexes can show enough strength to close backup above the T-line, the downtrend has to be considered to be still in effect. Keep both long and short positions in the portfolio.