Be careful the bounce! Although the market indexes are trading positive, showing strength yesterday at logical support levels, the stochastics are still heading down. Any buying today requires seeing the indexes close near the high end of there trading ranges. The S&P 500 has currently stalled at the T line. The NASDAQ also at the T line area. Today will be a watch day to see if the buying continues into the close.
August 20th Daily Market Comments
Be careful the bounce! Although the market indexes are trading positive, showing strength yesterday at logical support levels, the stochastics are still heading down. Any buying today requires seeing the indexes close near the high end of there trading ranges. The S&P 500 has currently stalled at the T line. The NASDAQ also at the T line area. Today will be a watch day to see if the buying continues into the close.