August 9th Daily Market Comments

The indexes are still having a hard time getting back up through the T-line/50 day moving averages. The expected bounce back up to these levels was indicated by the buy signals in the oversold conditions of the market. The next move to watch is to see whether the indexes can stay relatively positive going into the end of the day, continuing to put pressure at the breakout levels. A Friday in the middle of the summer may just be a wait and see day.