Although the markets are trading positive Today, they are still in the cautionary stage. The Dow is trading higher after a reversal signal on Friday. The NASDAQ and the S&P 500 are trading higher but did not have reversal signals on Friday. This still requires seeing good bullish confirmation today, keeping the indexes above the T line. Numerous short positions have now been covered and buying any new long positions require maintaining strength going into the close today. Be careful.
January 31st Daily Market Comments
Although the markets are trading positive Today, they are still in the cautionary stage. The Dow is trading higher after a reversal signal on Friday. The NASDAQ and the S&P 500 are trading higher but did not have reversal signals on Friday. This still requires seeing good bullish confirmation today, keeping the indexes above the T line. Numerous short positions have now been covered and buying any new long positions require maintaining strength going into the close today. Be careful.