Today the Dow is forming a bearish left/right combo which if it closes here, will be closing below the T-line. This in itself would be an indication of a strong change of investor sentiment but add the fact that the Dow formed a bearish Harami a few days earlier, followed by a gap down below the T-line, is producing evidence that the Bears are starting to take control in this area. The NASDAQ would also be closing below the T-line. This combination would be a stronger indication that the Bears were starting to control the market. Be ready to close out long positions that are showing weakness if the market does not come back up and close near the high end/above the T-line Today.
April 30th Daily Market Comments
Today the Dow is forming a bearish left/right combo which if it closes here, will be closing below the T-line. This in itself would be an indication of a strong change of investor sentiment but add the fact that the Dow formed a bearish Harami a few days earlier, followed by a gap down below the T-line, is producing evidence that the Bears are starting to take control in this area. The NASDAQ would also be closing below the T-line. This combination would be a stronger indication that the Bears were starting to control the market. Be ready to close out long positions that are showing weakness if the market does not come back up and close near the high end/above the T-line Today.