The markets are in the oversold condition and now starting to show some buying sentiment. Numerous stocks are starting to show potential reversal signals but bullish confirmation is still required, especially seeing trading closing the indexes as well as individual stocks backup above the T-line. Continue to be predominantly short but be more attentive for buy signals in downtrending stocks. With the market indexes still trading below the T-line, be cautious on buying bullish positions.
June 3rd Daily Market Comments
The markets are in the oversold condition and now starting to show some buying sentiment. Numerous stocks are starting to show potential reversal signals but bullish confirmation is still required, especially seeing trading closing the indexes as well as individual stocks backup above the T-line. Continue to be predominantly short but be more attentive for buy signals in downtrending stocks. With the market indexes still trading below the T-line, be cautious on buying bullish positions.