Today’s positive trading in the markets are still under the influence of the downtrending channel. The upper resistance level of the trend channel has not yet been breached. This puts the market sentiment still in a indecisive and possibly a lower trend channel continuation until the upper resistance level can be broken. Each individual stock chart and/or sector remains the main criteria for establishing long or short positions. Strong candlestick buy signals are easily identified, i.e. PI and strong sell patterns continue to demonstrate good short positioning, i.e.POOL.
August 25th Daily Market Comments
Today’s positive trading in the markets are still under the influence of the downtrending channel. The upper resistance level of the trend channel has not yet been breached. This puts the market sentiment still in a indecisive and possibly a lower trend channel continuation until the upper resistance level can be broken. Each individual stock chart and/or sector remains the main criteria for establishing long or short positions. Strong candlestick buy signals are easily identified, i.e. PI and strong sell patterns continue to demonstrate good short positioning, i.e.POOL.