January 31st Daily Market Comments

Amazon up huge, Microsoft at all-time highs, investor sentiment should be very bullish! But the Dow and the S&P 500 had not yet closed above the T-line yesterday. Today’s selling, still the effect of the China virus, obviously keeps the indexes trading well below the T-line. The prognosis remains the same, any long positions still require the lack of any sell signals and continuing to trade above the T-line. There are numerous dumpling tops that are working effectively today, DXC, CROX, CREE. Have both long and short positions in the portfolio.