The nature of the market remains the same, although the NASDAQ has gapped up through the resistance level, it is not showing any follow-through strength. The other indexes opened positive but currently trading well below where they opened.

The sideways trend of the market prevails, especially when witnessing a failure of the resistance breakout in the NASDAQ. Continue to have long and short positions in the portfolio.

The lack of follow-through in today’s market indexes continues to demonstrate the sideways mode of the market trend. Be cautious, positions whether long or short should require very strong charts.

Today’s positive trading is bringing the Dow right back up to the T line, the NASDAQ well above the T line. Be careful, it will be important to see how the markets finish today.

Today’s positive trading is bringing the Dow right back up to the T line, the NASDAQ well above the T line. Be careful, it will be important to see how the markets finish today.

The downtrend in the indexes continue after the evening star signals failure at major resistance levels. Gold is up strong. Bank failures are a concern. Be predominantly short.

Today’s bearish trading has confirmed the indecisive signals at the resistance level in the indexes yesterday. Short positions that were showing good prospect are obviously improving profitability today. The prognosis remains the same, bullish trades require very compelling bullish confirmation, short trades can be added to the portfolio.

The positive trading in the Dow and the S&P 500, although relatively slight, has gapped up through the down trending resistance level. The NASDAQ is trading slightly lower at the resistance level. This merely reveals a definite lack of very sentiment in the markets. Remain bullish oriented but with safety stops in place.

Beware, although the markets are trading positive, they are still trading below the T line with stochastics pointing down. Before doing any aggressive buying, wait to see how the markets finished the day.

The indexes are trading below the T-line why is that important to address? Because the assumption is the bearish sentiment is in control. Knee-jerk reactions such as today’s reaction to Microsoft gapping up have to be watched with skepticism. Note the NASDAQ is trading much higher but currently trading below where it opened, indicating a lack of bullish sentiment after the initial move.