August 4th Daily Market Comments

The uptrend continues, simple analysis, as long as the indexes stay above the T-line, especially after yesterday’s gap up confirmation of the hammer/Doji signals are Friday, the uptrend will remain in progress. The patterns continue to produce good profits, Doji sandwich breakouts, wedge breakouts, fry pan bottom breakouts are all working. Stay long.

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August 3rd Daily Market Comments

The late afternoon buying on Friday created hammer signals and all the indexes. The Dow had formed a hammer signal on both Thursday and Friday, bouncing up off the 50 day moving average. Today’s positive trading in the Dow has gapped up above the T line. If it closes above the T line today, this will produce a very strong bullish chart set up. A strong close in the NASDAQ will be an all-time high. The analysis is simple, as long as the indexes close above the T-line, the uptrend remains in progress. The Dow will be the one to watch. Numerous Doji sandwich formations are producing profits today.

 

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July 31st Daily Market Comments

Although the NASDAQ and S&P 500 closed above the T-line yesterday, the Dow still closed below the T line. This made the sideways prognosis of the market indexes the likely expectation. The Dow continues to trade lower, probably looking for support at the 50 day moving average again, continuing the sideways drifting mode of the markets. These market conditions make individual stock movements choppy, up one day down the next, making the T-line the ultimate trend confirmation indicator. Hold long positions that have not produced sell signals and are continuing to trade above the T line.

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July 30th Daily Market Comments

Is there any way to protect from negative tweets? No, unfortunately that is part of the risk of being in the market. The indexes continue to be influenced by the T-line. Yesterday the Dow closed at the T-line but not above it. The NASDAQ and the S&P 500 closed above the T-line but needed more confirmation today. What does today’s trading reveal about the market trend? Still sideways. And often asked question, ” do you hold during earnings?” If the smart money is buying going into earnings, that will tell you something. I.e. UPS. Although the indexes are trading much lower, there are still good strong bullish patterns, NET bullish flutter kicker.

 

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July 28th Daily Market Comments

The NASDAQ and the Dow did not close above the T-line yesterday. This would have provided some suspicion that the downtrend may not be over. Today’s lower trading appears to be causing the market to have a slow drifting downtrend/profit-taking versus any major change of investor sentiment

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July 27th Daily Market Comments

Be careful! Although the markets are trading positive Today, they are still below the T-line. Be careful of Today’s bounce. Take some profits in the gold stocks, after a long steady Eddie move,GFI and HMY have gapped up significantly. Consider taking off half the positions.SOGO, take profits, it has gapped up 48% today. Watch to see what happens in regards to the T-line Today in the indexes.

 

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July 24th Daily Market Comments

After closing below the T-line yesterday, it was anticipated there would be more selling Today, especially in the NASDAQ. However, note that although the markets are trading lower, they are currently trading above where they opened. This would imply the selling is more likely profit-taking than a full-scale change of investor sentiment. Take profits on charts that are trading below the T line but be ready to see which sectors may be the new strong bullish sectors when the markets come back up above the T line.

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July 23rd Daily Market Comments

Hard selling in the markets? The Doji type days indicate indecisive selling, profit-taking during the uptrend. The indexes continue to trade above the T line without any evidence of reversal signals. Additionally, there are sectors trading positive while other sectors are trading lower, an indication of a steady market. The home builder stocks are acting well, retail stocks are holding up well. Stay predominately long but in the strong sectors. The uptrend remains in progress.

 

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July 22nd Daily Market Comments

A lackluster summer day in the markets, the Dow up slightly, the NASDAQ down slightly. This still makes identifying the strong sectors the top criteria. The housing stocks are acting well based upon good housing start numbers. TOL a good fry pan bottom breakout. Use the T-line as your final criteria. Take profits on iffy chart patterns, there are many good bullish patterns setting up.

 

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July 21st Daily Market Comments

The Dow gapped up after a Doji bouncing up off the T-line yesterday. This makes for a strong J-hook pattern which would imply more upside. The NASDAQ opened higher but trading slightly lower, nothing that would show any major change of investor sentiment. The overall market trend continues its slow uptrend, with profit-taking occurring along the way.

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