Positive trading in the market indexes after a big down day, not unexpected to see a bounce. This is not a time to be buying aggressively, better to be watching for the appearance of more selling. As long as the indexes are trading below the T line and stochastics heading in a downward trajectory, be ready to add to short positions on further weakness. However, oil has moved up strong today, making the oil stocks attractive on the bullish side.
August 23rd Daily Market Comments
Positive trading in the market indexes after a big down day, not unexpected to see a bounce. This is not a time to be buying aggressively, better to be watching for the appearance of more selling. As long as the indexes are trading below the T line and stochastics heading in a downward trajectory, be ready to add to short positions on further weakness. However, oil has moved up strong today, making the oil stocks attractive on the bullish side.