Today’s gap down open is creating bearish trend kicker signals. If the markets close near the lower end of their trading range today, a bearish trend kicker implies a strong force to the downside. Expect more downside. The areas to watch are the support levels such as the 50 day moving average for the NASDAQ and the S&P 500. The Dow has gapped down below the T line today. This all implies further downside. The short positions should be a stronger bias.
August 10th Daily Market Comments
Today’s gap down open is creating bearish trend kicker signals. If the markets close near the lower end of their trading range today, a bearish trend kicker implies a strong force to the downside. Expect more downside. The areas to watch are the support levels such as the 50 day moving average for the NASDAQ and the S&P 500. The Dow has gapped down below the T line today. This all implies further downside. The short positions should be a stronger bias.