December 6th Daily Market Comments

The market indexes closing below the T line yesterday made be in prepared for more selling. Any long positions that were not showing strength, especially in the overbought area, should have been closed. Numerous strong short positions could be established.

 

Share

December 5th Daily Market Comments

Although the indexes remain above the T-line, Today’s current selling reveals the markets are not yet showing bearish sentiment but also not showing any great bullish sentiment, a sideways market trajectory. This continues to make the evaluation of each individual stock chart the most important criteria. Any buying today should have very strong confirmation.

 

Share

December 2nd Daily Market Comments

The T line remains a factor, the indexes opened lower because of the positive jobs report but currently trading above where they opened. Continue to utilize each individual stock chart as the top criteria.

Share

November 30th Daily Market Comments

The T line rule is still in effect. As long as the indexes are trading below the T line, assume investor bias is bearish. Today’s expected Fed comments apparently not appearing to be any great influence. Both long and short positions are working with the bias toward the downside.

 

Share

November 29th Daily Market Comments

Not a decisive trading day and with the indexes trading at or below the T line. The markets appear to be in a wait and see mode. This makes each individual stock chart the main criteria today.

 

Share

November 28th Daily Market Comments

Weakness in the market trend is being demonstrated with the NASDAQ currently trading back below the T-line, forming a sideways wedge. The Dow is trading below Friday’s open, improving the probabilities of a pullback at least to the T-line. Positions that look iffy should be analyzed as to whether they are the best places to have your money. Take some off the table.

Share

November 22nd Daily Market Comments

The Dow is showing the strongest bullish chart. It has clearly revealed the T line is acting as a support level and setting up for a J-hook pattern, provided it closes near the high end of the trading range today. If it sells off hard, creating an ShootingStar signal, failing at the highs of last week, it would be indicating a double top. The S&P 500 and the transportation index are supporting above the T line. The NASDAQ continues to show the most weakness.

 

Share

November 21st Daily Market Comments

The lack of decisive direction in the market indexes continue to make having both long and short positions in the portfolio. However, there appears to be more strength in the bearish patterns. Numerous bearish J-hook patterns are being confirmed by the T line. The NASDAQ is showing the greatest bearish indications.

 

Share

November 18th Daily Market Comments

The market indexes continue to show a sideways mode. This continues to make having both long and short positions viable. Note how a number of stocks in a downtrend opened positive, right at the T-line, and then started trading lower. This provides significant information. Short positions working well seem to be more numerous.

 

Share

November 17th Daily Market Comments

The major indexes are now consolidated back to the obvious support level, the T line. The transportation index is not supporting at the T line. Any long positions now require very compelling reasons to stay long. Short positions are working well.

Share