Although the markets are trading lower, they are trading above where they opened, creating bullish candles. This is an indication there is not dramatic selling occurring at these levels. The transportation index is trading positive, producing a bullish left/right combo after Friday’s inverted hammer signal in the oversold condition. These market conditions continue to produce good bearish charts as well as good bullish charts. Be attentive to each individual stock chart for having both long and short positions in the portfolio.
July 2nd Daily Market Comments
Although the markets are trading lower, they are trading above where they opened, creating bullish candles. This is an indication there is not dramatic selling occurring at these levels. The transportation index is trading positive, producing a bullish left/right combo after Friday’s inverted hammer signal in the oversold condition. These market conditions continue to produce good bearish charts as well as good bullish charts. Be attentive to each individual stock chart for having both long and short positions in the portfolio.