July 8th Daily Market Comments

The trend of the markets are still confirmed by trading/closing above the T-line. A close below the T-line would indicate a change of investor sentiment but currently the uptrend is enhanced by witnessing selling early in the day, followed by buying going into the end of the day. Today’s analysis should be that same process. Obviously this is a tough market to try to trade, with the slow uptrend showing great oscillation on a daily basis. Stay long and use the T-line as your final analytical factor.
NEW should not be bought unless it comes back up through Friday’s close, indicating the 50 day moving average was not acting as a resistance level.