Today’s positive trading continues to illustrate bullish sentiment. The Dow, S&P 500, and the transportation index are showing consistent uptrends, above the T-line. The NASDAQ after the hard selloff last week, is trying to bounce back up at least to the T-line area. Overall, with the indexes not necessarily trading in correlation with each other indicates specific stocks/sectors are showing strength or weakness, not across-the-board movement in all stocks. The uptrend of the market is still reflective of the positive processes, taxes and regulations, for business in general. This attitude should be the underlying basis for bullish sentiment until there is a reason for that bullish sentiment to be altered. Stay predominantly long, but continue to have a few short positions in the portfolio.
June 13th Daily Market Comments
Today’s positive trading continues to illustrate bullish sentiment. The Dow, S&P 500, and the transportation index are showing consistent uptrends, above the T-line. The NASDAQ after the hard selloff last week, is trying to bounce back up at least to the T-line area. Overall, with the indexes not necessarily trading in correlation with each other indicates specific stocks/sectors are showing strength or weakness, not across-the-board movement in all stocks. The uptrend of the market is still reflective of the positive processes, taxes and regulations, for business in general. This attitude should be the underlying basis for bullish sentiment until there is a reason for that bullish sentiment to be altered. Stay predominantly long, but continue to have a few short positions in the portfolio.