Today’s positive trading in the indexes are creating trend kicker signals. This produces a high probability outcome of more upside provided the markets close positive today. It is also producing J-hook patterns. This is consistent with the characteristic of this uptrend, steady up moves followed by profit-taking followed by steady uptrend. There are still numerous short positions that are working well in this market. Continue to have both long and short positions in the portfolio.
August 16th Daily Market Comments
Today’s positive trading in the indexes are creating trend kicker signals. This produces a high probability outcome of more upside provided the markets close positive today. It is also producing J-hook patterns. This is consistent with the characteristic of this uptrend, steady up moves followed by profit-taking followed by steady uptrend. There are still numerous short positions that are working well in this market. Continue to have both long and short positions in the portfolio.