Because prices/trends move based upon investor sentiment, it will be important to see how the markets finish up the day today. The major indexes are breaking down through trend support levels. A close at the top end of the trading range today, a hammer signal, would indicate the lower trend channel support level was going to continued active support. A close near the lower end of the trading range today would indicate investors have given up, the dumpling top breakdown would be in progress. Very few long positions should be remaining intact, only if they were not showing sell signals.
August 21 Daily Market Comments
Because prices/trends move based upon investor sentiment, it will be important to see how the markets finish up the day today. The major indexes are breaking down through trend support levels. A close at the top end of the trading range today, a hammer signal, would indicate the lower trend channel support level was going to continued active support. A close near the lower end of the trading range today would indicate investors have given up, the dumpling top breakdown would be in progress. Very few long positions should be remaining intact, only if they were not showing sell signals.