April 20th Daily Market Comments

The Dow has moved back to the T-line after yesterday’s bearish Harami. The NASDAQ continues to selloff, trading below the T-line Today, after yesterday’s hanging man/gap down. Continue to close long positions that are not showing strength, the short positions are working well. The portfolio should be oriented toward the short side.

 

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April 19th Daily Market Comments

Friday’s dragonfly Doji/hanging man signal in the NASDAQ provided a little warning to watch for profit-taking on a weaker open today. The transportation index was remaining above the T line but with Doji type days, this provided a little bit of warning to watch for a potential reversal. Obviously, today short recommendations are working well. The top be conditions of the market indexes was making having both long and short positions in the portfolio a viable strategy. Any long positions that appeared to be showing weakness should be closed at the end of the day.

 

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April 16th Daily Market Comments

The market trend analysis remains consistent with the past four weeks. The Dow is trading higher Today, the NASDAQ is trading lower, but both indexes continue to trade above the T line. Gold continues to trade higher making gold stocks continuing an uptrend. Today might be a lethargic trading day, a Friday. Continue to use the T line as your trend indicator.

 

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April 15th Daily Market Comments

The indexes did not confirm the potential sell signals of yesterday. The NASDAQ is trading above yesterday’s open of a bearish engulfing signal. The S&P 500 is currently forming a bullish trend kicker. The Dow continues its uptrend. Gold stocks are reacting well Today to higher gold prices, bobble breakouts and trend kicker signals. Although potential sell signals occurred yesterday in the indexes, they have been negated today with additional confirmation the T line still acts as an up trending support.

 

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April 14th Daily Market Comments

The market indexes continue their uptrend allowing for good candlestick pattern breakouts. The bobble pattern is working effectively today, CDNA, BBL, OSTK. The electric vehicle sector is showing good basing action in numerous positions. Stay predominately long but with the indexes in the overbought condition, keep safety stops in place.

 

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April 13th Daily Market Comments

The Dow down, the NASDAQ up, sector rotation continues. The big tech stocks continue to pick up strength, numerous double bottom patterns/fry pans are demonstrating good trades i.e.OSTK. These market conditions warrant analyzing each stock/sector on its own merits.

 

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April 12th Daily Market Comments

The nature of the market trend remains the same, consolidation but no indication of any market reversal. Continue to hold long positions as long as they are not forming bearish signals. The bobble breakout, as seen in NUAN, are working well. Continue to utilize the

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April 9th Daily Market Comments

The trend analysis remains the same, as long as the indexes continue to trade above the T line, it is assumed the uptrend remains in progress. Currently there is no signs of any change of investor sentiment. Stay predominately long, short positions should have compelling charts to stay short. Keep safety stops in place with the indexes trading in the overbought condition.

 

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April 7th Daily Market Comments

The indexes do not reveal any change of investor sentiment, yet! The steel stocks and the electric vehicle sector continues to stay strong. BBL is forming a bobble breakout/trend kicker signal today, implying more upside in the steel mining sector. Have both long and short positions in the portfolio with the current bias to the long side.

 

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April 6th Daily Market Comments

A consolidation day, the indexes are not moving one way or the other with any conviction. The strong individual chart signals continue to work i.e.HZNP kicker signal still performing. The electric vehicle sector is showing strength again. The T line remains the ultimate trend indicator. Stay long in positions that continue to stay above the T-line without sell signals. Fry pan bottom patterns are working well without any bearish sentiment in the overall market. Use the patterns to your advantage while the market remains in a steady uptrend.

 

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