Today’s lower trading in the markets indicated better prospects for a sideways moving market. Friday’s Doji in the Dow, just below the previous top of two weeks ago, indicated the lack of bullish pressure. The NASDAQ gapped down in today’s trading indicating the 50 day moving average was acting as a resistance level. Unless the markets find excessive strength going into the end of the day, the sideways mode of the markets may be revealing the summer doldrums. Any long or short positions require compelling patterns.
July 11th Daily Market Comments
Today’s lower trading in the markets indicated better prospects for a sideways moving market. Friday’s Doji in the Dow, just below the previous top of two weeks ago, indicated the lack of bullish pressure. The NASDAQ gapped down in today’s trading indicating the 50 day moving average was acting as a resistance level. Unless the markets find excessive strength going into the end of the day, the sideways mode of the markets may be revealing the summer doldrums. Any long or short positions require compelling patterns.