25,000+ on the Dow but still not evidence of exuberance. Even today with the markets up strong, numerous stocks are still trading flat or lower. Not necessarily showing any major reversals but merely backing and filling during slow uptrend’s. Today the big stocks, AMZN, AAPL, NVDA etc. are trading higher. The overall trend for many stocks are up but slow, the T-line being the relevant trend support factor. Stay predominantly long but the market nature has been making stock positioning specific to individual stocks and sectors. Take profits where necessary and look for better bullish chart setups.
January 4th Daily Market Comments
25,000+ on the Dow but still not evidence of exuberance. Even today with the markets up strong, numerous stocks are still trading flat or lower. Not necessarily showing any major reversals but merely backing and filling during slow uptrend’s. Today the big stocks, AMZN, AAPL, NVDA etc. are trading higher. The overall trend for many stocks are up but slow, the T-line being the relevant trend support factor. Stay predominantly long but the market nature has been making stock positioning specific to individual stocks and sectors. Take profits where necessary and look for better bullish chart setups.