Yesterday’s Bullish Enthusiasm from AAPL helped stabilize the markets, the Dow anyways, but it somewhat masked the weakness that was being demonstrated in the NASDAQ and S&P 500. Although the Dow is trading higher today, the NASDAQ and S&P 500 continue to demonstrate bearish candlestick signals. Currently there is no dramatic selling pressure, merely indication that the bullish sentiment has dramatically diminished. This market environment warrants having both long and short positions in the portfolio.
August 3rd Daily Market Comments
Yesterday’s Bullish Enthusiasm from AAPL helped stabilize the markets, the Dow anyways, but it somewhat masked the weakness that was being demonstrated in the NASDAQ and S&P 500. Although the Dow is trading higher today, the NASDAQ and S&P 500 continue to demonstrate bearish candlestick signals. Currently there is no dramatic selling pressure, merely indication that the bullish sentiment has dramatically diminished. This market environment warrants having both long and short positions in the portfolio.