The markets are currently doing hammer/Doji type days with the Dow almost touching the 50 day moving average at its low. More significantly, the NASDAQ is doing a Doji/hammer signal right at the same level at bottomed out last week. This does not necessarily mean the downtrend is over but more an indication the markets may be back in a wedge/sideways mode. Continue to have both long and short positions in the portfolio.
August 18th Daily Market Comments
The markets are currently doing hammer/Doji type days with the Dow almost touching the 50 day moving average at its low. More significantly, the NASDAQ is doing a Doji/hammer signal right at the same level at bottomed out last week. This does not necessarily mean the downtrend is over but more an indication the markets may be back in a wedge/sideways mode. Continue to have both long and short positions in the portfolio.