April 30th Daily Market Comment

Today’s positive trading demonstrates the lack of selling pressure but still not enough bullish pressure to breach the upside of the wedge formation. The sideways mode of the markets continue to accentuate the analysis of each individual stock chart versus depending on the market trend to assist in price moves. Both long and short positions should remain in the portfolio. Currently the market indexes are trading above the T-line but still below the downward resistance level.