Yesterday’s news on the Chinese tariffs wars appears to be merely the excuse/reason for profit-taking in the markets. The positive trading today offset the Doji’s that formed in the indexes yesterday. The uptrend appears to be maintaining but after yesterday’s Doji, the markets need to stay above the opens of today. Any selling from these levels back through the opens would indicate the failure of the Bulls, some more downtrend would be expected. Stay long but be attentive.
August 31st Daily Market Comments
Yesterday’s news on the Chinese tariffs wars appears to be merely the excuse/reason for profit-taking in the markets. The positive trading today offset the Doji’s that formed in the indexes yesterday. The uptrend appears to be maintaining but after yesterday’s Doji, the markets need to stay above the opens of today. Any selling from these levels back through the opens would indicate the failure of the Bulls, some more downtrend would be expected. Stay long but be attentive.