Today’s selling in the markets have brought the indexes back to a potential support levels with stochastics in the over sold condition, however there has not been any indication of candlestick reversal signals at these levels. Until there is the appearance of reversal signals and confirmation, the downtrend remains in progress. The portfolio should be oriented toward the short side with any long positions remaining above the T-line.
December 14th, Daily Market Comments
Today’s selling in the markets have brought the indexes back to a potential support levels with stochastics in the over sold condition, however there has not been any indication of candlestick reversal signals at these levels. Until there is the appearance of reversal signals and confirmation, the downtrend remains in progress. The portfolio should be oriented toward the short side with any long positions remaining above the T-line.