Profit-taking is expected after yesterday’s big up day. The Dow and transportation index continues to trade above the T-line. The NASDAQ and the S&P 500 are trading in a sideways mode. The trading strategy remains the same, have both long and short positions in the portfolio. The stimulus package appears to be the major bullish prospect for the market indexes. Obviously the sectors that are going to benefit from stimulus bailout continue to act well while other sectors are being sold. The T line remains the ultimate trend indicator after candlestick bullish or bearish patterns.
February 25th Daily Market Comments
Profit-taking is expected after yesterday’s big up day. The Dow and transportation index continues to trade above the T-line. The NASDAQ and the S&P 500 are trading in a sideways mode. The trading strategy remains the same, have both long and short positions in the portfolio. The stimulus package appears to be the major bullish prospect for the market indexes. Obviously the sectors that are going to benefit from stimulus bailout continue to act well while other sectors are being sold. The T line remains the ultimate trend indicator after candlestick bullish or bearish patterns.