Today’s lower market trading still does not show any significant selling conviction. This is mostly illustrated in the NASDAQ that is currently trading lower but above where it opened today. The Dow and S&P 500 are showing indecisive selling based upon the hammer type signals so far today. The one criteria remains constant, as long as the indexes continue to close above the T-line, the uptrend remains in progress. The only index that is showing any question ability is the Dow. Stay predominantly long. There are a significant number of stocks continuing to trade positive today.
June 1st Daily Market Comments
Today’s lower market trading still does not show any significant selling conviction. This is mostly illustrated in the NASDAQ that is currently trading lower but above where it opened today. The Dow and S&P 500 are showing indecisive selling based upon the hammer type signals so far today. The one criteria remains constant, as long as the indexes continue to close above the T-line, the uptrend remains in progress. The only index that is showing any question ability is the Dow. Stay predominantly long. There are a significant number of stocks continuing to trade positive today.