The indecisive nature of the market persists. However, the NASDAQ is producing more definable bullish indications, a fry pan bottom type pattern that supported off the T-line. Down trending stocks are showing strength today and uptrending stocks showing weakness. Note that uptrending stocks that did not show strong selling are showing better strength today i.e. SPLK. Maintain heavier cash position until the market shows more direction.
August 5th Daily Market Comments
The indecisive nature of the market persists. However, the NASDAQ is producing more definable bullish indications, a fry pan bottom type pattern that supported off the T-line. Down trending stocks are showing strength today and uptrending stocks showing weakness. Note that uptrending stocks that did not show strong selling are showing better strength today i.e. SPLK. Maintain heavier cash position until the market shows more direction.