Today’s trading is showing indecisiveness, the transportation index and the NASDAQ are showing strength while the Dow and S&P 500 are selling off. The main factor remains that the indexes continue to trade below the T-line, maintaining the simple scenario that the downtrend remains in progress. However, the transportation index is remaining above the T-line in a steady uptrend. This implies the current weakness in the market is not demonstrating wholesale selling. Stay predominately short but long positions in the portfolio can be producing profitability.
February 9th Daily Market Comments
Today’s trading is showing indecisiveness, the transportation index and the NASDAQ are showing strength while the Dow and S&P 500 are selling off. The main factor remains that the indexes continue to trade below the T-line, maintaining the simple scenario that the downtrend remains in progress. However, the transportation index is remaining above the T-line in a steady uptrend. This implies the current weakness in the market is not demonstrating wholesale selling. Stay predominately short but long positions in the portfolio can be producing profitability.