June 7th Daily Market Comments

The indecisive trend of the market is illustrated by the indexes hovering at the T line area. The biggies continue to trade in a sideways mode, AAPL up right now, AMZN down. However, the strong patterns continue to perform well.

 

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June 6th Daily Market Comments

The indexes continue to trade indecisively, up one day down the next. The Dow is currently in a sideways trading range, not showing any decisive direction. This continues to make the analysis of each individual stock chart the top criteria. Long positions as well as short positions are working in these market conditions.

 

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June 3rd Daily Market Comments

The consolidation phase of this market trend remains in progress, or a better way to state it, the market is still indecisive. Have both long and short positions in the portfolio.

 

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June 2nd Daily Market Comments

The market indexes remain in an iffy stage. The Dow has pulled back to test the T-line. Note that numerous stocks have use the T-line as support so far today. However, be aware of the lack of bullish indications in the indexes. Each individual stock chart remains the prominent criteria in conjunction with the T-line.

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June 1st Daily Market Comments

Watching for the end of a bounce in a down trending market. Today’s lower trading is confirming yesterday’s bearish Harami potential in the Dow. The other indexes are showing weakness. Keep both long and short positions in the portfolio.

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May 31st Daily Market Comments

Today’s initial selling in the market indexes do not indicate any major change of investor sentiment. The indexes continue to trade above the T line and the 3T line is demonstrating some relevance. Be aware of individual stock/sectors performing well.

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May 26th Daily Market Comments

The Dow is showing strong confirmation of a reversal, indicating the T line is now not acting as resistance and it has broken the downtrending channel. All the other indexes are also trading back up above the T line. Anticipate more upside until there is a sell signal. However, remain nimble waiting to see whether the market indexes are producing a bullish bounce in a downtrend or starting a new uptrend.

 

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May 25th Daily Market Comments

The Dow is producing the strongest bullish reversal prospects PROVIDED the Dow closes near the high end of the trading range. The other indexes are trading positive but below the T line. Be prepared for a reversal but give it to the end of the day.

 

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May 24th Daily Market Comments

The T line rule remains in effect! Until you see a candlestick reversal signal and a close above the T line, assume the downtrend remains in progress. That is why it was important to see what the premarket futures are indicating today. Stay predominately short. Any long positions require convincing bullish evidence to stay long.

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May 23rd Daily Market Comments

Although the Dow is trading much higher, the other indexes do not appear to have the same follow-through strength. The reminder remains that as long as the indexes continue to trade below the T line, bearish sentiment is still in control. Any entry into long positions require confirmation of the bulls maintaining the position going into the close. Retail stocks continue their downtrend.

 

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