August 30th Daily Market Comments

The Dow gapping up and trading positive has moved it just above the sideways trading range of the past month. But it is not trading with any great decisiveness after the gap up. The transportation index is demonstrating a good bullish uptrend. However, the NASDAQ and the S&P 500 opened positive but are currently trading below where they opened. This mixture of index movements demonstrates there is not yet a powerful consensus either bullish or bearish.