Today’s positive trading makes the market indexes still in a indecisive trading mode. The NASDAQ remains in a slight uptrend but with indecisive/Doji trading days. Remain cautious, any bullish positioning should have strong compelling charts. Otherwise, be more attentive for the downtrending motion of the Dow and S&P 500.
March 22nd Daily Market Comments
Obviously the markets are not going to have any great movement prior to the Fed meeting. The artificial intelligence sector is getting attention, NVDA. Gold stocks are not showing any decisive selling on the current little pullback. Watch for the a knee-jerk reaction once interest rate changes are announced’
March 21st Daily Market Comments
March 17th Daily Market Comments
The T line has shown resistance further the Dow, it is acting as support on the S&P 500 and the NASDAQ is trading well above the breakout level of the downtrending trend channel. This is putting the markets in a transition mode. Be very select as far as bullish and bearish candlestick pattern set ups.
March 15th Daily Market Comments
The T-line continues to act as the ultimate indicator. And today’s gap down in the indexes below yesterday’s open demonstrates a very strong downward trend confirmation. The downtrend may be due to bank crisis or interest rates concerns, but there may still be a more ominous factor. The markets seem to know when something negative may be ready to occur in worldwide events. Stay short.
March 13th Daily Market Comments
Today’s positive trading appears to be relief that bank failures might not be spreading concern. However, there is not a reversal of the downtrend. It will be important to see how the markets close today.CVNA can be shorted if it trades back down through today’s open. W can be shorted if it trades down through today’s open.
March 10th Daily Market Comments
March 9th Daily Market Comments
Be careful of the bounce, the Dow is still trading below the T line after a strong evening star signal failure at the 50 day moving average. Assume the downtrend is still in progress. Unfortunately, a positive trading day today would indicate more sideways motion of the markets. Be very selective, any positioning in these market conditions should have very strong chart indications.
March 8th Daily Market Comments
The effects of a blue ice failure are still in progress in the Dow. The other indexes are trading relatively flat but assume bearish sentiment is still in control as long as the indexes are now trading back below the T line. Any trading should have very compelling chart signals for both long and short positions today.
March 28th Daily Market Comments
Be careful. There is not a lot of bullish strength being revealed in the Dow, even though it is trading positive. The NASDAQ is trading lower and the S&P 500 is showing indecisive trading at the down trending channel. Any bullish positions should be showing good compelling uptrends. Be prepared to add to short positions or maintain cash positions.