The market indexes were showing the lack of any bullish pressure in the overbought condition over the past few trading days. This implied the possibility of more consolidation. However, with the markets opening at the T line and starting to trade positive from those levels indicates selling pressure is not yet any major factor. Continue to use these market conditions to close out trades that are starting to show weakness and be ready to move into new strong stock/sectors.
August 20th Daily Market Comments
The market indexes were showing the lack of any bullish pressure in the overbought condition over the past few trading days. This implied the possibility of more consolidation. However, with the markets opening at the T line and starting to trade positive from those levels indicates selling pressure is not yet any major factor. Continue to use these market conditions to close out trades that are starting to show weakness and be ready to move into new strong stock/sectors.