The markets continue in their whipsaw mode but there is one relevant factor. After the breakdown in the markets following the dumpling top, the recent bounce was right back up to the T-line. Until there is a definite buy signal, and significant/obvious strength, the market still has to be considered to be in a downtrend. Be careful of today’s initial buying. Short positions still should be maintained in the portfolio.
August 8 Daily Market Comments
The markets continue in their whipsaw mode but there is one relevant factor. After the breakdown in the markets following the dumpling top, the recent bounce was right back up to the T-line. Until there is a definite buy signal, and significant/obvious strength, the market still has to be considered to be in a downtrend. Be careful of today’s initial buying. Short positions still should be maintained in the portfolio.