Today’s positive trading appears to be confirming the Doji in the Dow right at the 200 day moving average area. Bullish trades can be slowly established but today’s final criteria requires the market indexes to close near the high end of their trading range. The hesitancy to buy long positions just yet is based upon the stochastics not yet showing oversold conditions. Any long positions added today require strength going into the close, trading near their higher end of the trading range.
August 16th Daily Market Comments
Today’s positive trading appears to be confirming the Doji in the Dow right at the 200 day moving average area. Bullish trades can be slowly established but today’s final criteria requires the market indexes to close near the high end of their trading range. The hesitancy to buy long positions just yet is based upon the stochastics not yet showing oversold conditions. Any long positions added today require strength going into the close, trading near their higher end of the trading range.