April 17th Daily Market Comments

The weakness Today in the Dow is not being confirmed by the other indexes. The NASDAQ is trading positive, not real strong, but continuing to indicate the lack of any major selling pressure in the overall market. The transportation index is up strong after supporting at the T-line yesterday. Allow each candlestick signal and pattern to be the main investment factor. The uptrend is still in a slow uptrend.

Share

April 16th Daily Market Comments

The consistent trading above the T-line of eliminates the concern about individual indexes backing and filling when the other indexes are maintaining a slow, consistent uptrend. Today, the transportation index, after trading lower yesterday, opened in the T-line area and started trading up from that level, revealing the T-line is acting as a support for all the indexes. Continue to stay long until there is a major reversal signal witnessed in the major indexes.

Share

April 15th Daily Market Comments

Boring! Today’s selling does not indicate any major change of investor sentiment so far. There does not seem to be any dramatic bullish or bearish pressure influencing the market trend Today. Although the indexes are trading lower, they are not forming any sell signals and the indexes continue to trade above the T-line. Today appears to be setting up as a sit and watch day. The current trend remains in progress, provided there is no excessive selling Today.

Share

April 12th Daily Market Comments

Today’s positive trading is not seeing the big stocks AAPL, NVDA, AMZN etc. participating. This is not a negative, it merely indicates the markets are experiencing rotating versus across-the-board buying. Obviously, the uptrend remains in progress. The candlestick pattern confirmations are producing the bigger profits during this uptrend. BA is a big contributor to the Dow being strong.

Share

April 11th Daily Market Comments

Today the NASDAQ is flat, the Dow is up. Revealing that there is no major change of investor sentiment, the uptrend is in progress, with profit-taking occurring along the way. This makes the trend more solid and healthy, diminishing the prospects of exuberance. Continue to analyze each stock on its own merits, utilizing the T-line as the ultimate trend indicator.

Share

April 10th Daily Market Comments

The weakness in the markets yesterday, bringing the Dow back below the T-line, indicated the lack of bullish sentiment but with the other indexes continuing to trade above the T-line with indecisive formations yesterday, the implication was some additional consolidation but not necessarily any full-scale selling reversal.

Share

April 9th Daily Market Comments

The Dow, trading lower, is currently toying with the T-line. The NASDAQ, trading lower, but trading above where it opened. Today’s selling does not appear to be consensus selling across-the-board. Each day the market’s pullback early in the day and then close near the top end of the trading range, the stronger the uptrend becomes. The profit-taking is occurring during the uptrend, minimizing the prospects of exuberance. Stay predominantly long while utilizing the trading of the markets staying above the T-line.

Share

April 8th Daily Market Comments

Although the market indexes are trading lower Today, their current formations are demonstrating a lack of decisive selling, Doji type days. Also all the indexes are continuing to trade above the T-line. Unless there is a dramatic selling, it still has to be assumed the uptrend remains in progress with merely profit-taking along the way.

Share

April 5th Daily Market Comments

The prognosis remains the same, the uptrend is still in progress without any change of investor sentiment. The consistent uptrend in the markets are now pushing numerous stocks through resistance levels i.e.SGEN a wedge breakout. The Dow broke out through its wedge pattern over the past few days, indicating wave three should produce another strong persistent uptrend. Stay predominantly long but there are still good short positions working, STNE.

 

Share

April 4th Daily Market Comments

The uptrend remains in progress, the transportation index and the Dow trading higher, the S&P 500 trading flat, and today the NASDAQ is trading lower, the accumulative analysis indicates no change of investor sentiment in the overall market trend, merely rotation. Stay predominantly long, this is where simple candlestick scanning techniques allow for identifying which sectors are performing the best.

Share