August 1st Daily Market Comments

The apparent knee-jerk reaction about interest rates in yesterday’s trading is being pretty well offset in Today’s trading. This does not indicate there may be any change of the sideways motion of the markets, but it does illustrate yesterday’s selling was not a major change of investor sentiment. The T-line worked as a very efficient indicator pertaining to individual stocks, demonstrating a lack of change of investor sentiment on positions that sold off but did not close below the T-line. Continue to hold long positions that remain above the T-line as well as maintaining short positions that are not demonstrating reversal signals.