The Dow and S&P 500 have now pulled back to where they are trading below the T-line again. The NASDAQ continues to show strength, at least not any great selling influence. The Dow and S&P 500 have been showing bearish sentiment, although relatively slight, over the past five or six days of trading. A close below the T-line today would be strong evidence that the pullback might be continuing with more enthusiasm. Be prepared to take profits on long positions. Having a few short positions in the portfolio with the market conditions showing tiredness is viable.
July 28th Daily Market Comments
The Dow and S&P 500 have now pulled back to where they are trading below the T-line again. The NASDAQ continues to show strength, at least not any great selling influence. The Dow and S&P 500 have been showing bearish sentiment, although relatively slight, over the past five or six days of trading. A close below the T-line today would be strong evidence that the pullback might be continuing with more enthusiasm. Be prepared to take profits on long positions. Having a few short positions in the portfolio with the market conditions showing tiredness is viable.