September 21st Daily Market Comments

Beware the bounce! Although some indexes and stocks are trading positive Today, they are trading below where they opened, demonstrating the bulls have not taken control. If predominately short, be patient, investor sentiment is not likely to reverse immediately.

 

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September 20th Daily Market Comments

Paying attention to the T-line rule will dramatically improve your profitability. Last week when it was evident the indexes cannot close back up above the T line, the high probability assumption is that there was more downside.

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September 17th Daily Market Comments

The T-line remains the relevant trend indicator. Although the indexes illustrated potential reversal signals at support levels, today’s trading revealed the failure of the T-line again. However, the current support levels are acting as support, making the market trend extremely indecisive.

 

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September 15th Daily Market Coments

The markets are not showing any strength that would indicate a change of investor sentiment. The downtrend remains in progress as long as the indexes continue to trade below the T line. Crude oil is up strong, making the oil stocks a bullish area. Otherwise, remain predominately short until there is a definite reversal signal.

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September 10th Daily Market Comments

The T-line probabilities! Note that the positive trading in the Dow this morning failed right at the T line once again. The NASDAQ and the S&P 500 continue to show weakness, trading at the lower end of there trading range after the initial buying this morning. Simple rule – as long as the indexes are trading below the T line, a downtrend is in progress.

 

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September 9th Daily Market Comments

The 50 day moving average appears to be acting as support for the Dow, after forming a Doji yesterday followed by a bullish and golfing signal today. The bullish indication requires a strong close today, stochastics are not yet in the oversold area.

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September 8th Daily Market Comments

The indecisive nature of the market remains obvious. The Dow is trading relatively flat after testing support at the 50 day moving average, the NASDAQ trading lower but still above the T-line. The candlestick chart indications still lean toward more selling but note that AMZN, NFLX and TSLA are trading positive today, implying that there is not a mass exodus ready to occur in this market. The short positions are working better than long positions.

 

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September 7th Daily Market Comments

Back to school! Which means a lot of traders are back to their desks. The Dow is trading much lower, confirming a breakout to the downside of a wedge formation. The NASDAQ continues to trade higher. This makes the market conditions the same as the past few weeks, have both long and short positions in the portfolio. Both are working well.

 

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September 3rd Daily Market Comments

The day before a three day weekend may not illustrate any dynamic trading movements in the markets. These type of trading days should exhibit bullish charts continuing above the T line i.e. HUT, and bearish charts still working below the T line i.e. DOMO. The Dow continues to move sideways in a wedge formation, the NASDAQ is showing consolidation after the gap up Doji on Wednesday. Keep safety stops in place.

 

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September 2nd Daily Market Comments

The Dow, currently trading positive off the T-line, is confirming the bullish sentiment that has been exhibited in the NASDAQ and the S&P 500. The uptrend is obviously still in progress, however numerous stocks are starting to show exuberance at the top of their uptrends. Stay long but be careful. A number of our recommendations that have been maintaining steady uptrends are now gapping up and extending toward potential resistance levels i.e.OSCR,INMB,LPI, be prepared to take profits soon.

 

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