The weakness in Friday’s trading brought all the indexes back below the T-line. This was a viable indication the Bears are starting to take control. The Dow, although traded higher on Friday, indicated the 50 day moving average was going to be acting as a resistance level, making the prospects of the next target the 200 day moving average, which is where the Dow is trading right now. The S&P 500 has almost touched the 50 day moving average today. The short positions are obviously working well. Adding new short positions after the market has moved down this strong should probably not be executed until near the end of the day if the market indexes don’t show a bounce.
June 25th Daily Market Comments
The weakness in Friday’s trading brought all the indexes back below the T-line. This was a viable indication the Bears are starting to take control. The Dow, although traded higher on Friday, indicated the 50 day moving average was going to be acting as a resistance level, making the prospects of the next target the 200 day moving average, which is where the Dow is trading right now. The S&P 500 has almost touched the 50 day moving average today. The short positions are obviously working well. Adding new short positions after the market has moved down this strong should probably not be executed until near the end of the day if the market indexes don’t show a bounce.