Another consolidation day, likely waiting for the Fed meeting. The Dow is trading flat. The NASDAQ and the S&P 500 are trading lower but indecisively lower, Doji days still above the T line. Numerous stocks that sold off yesterday are bouncing back up today, the T-line be in a relevant support level. There appears to be sector rotation. Close out long positions that are not showing confirming strength. Numerous positions have been closed out because they close below the T-line. Be patient, sit in cash for a few days until new stock/sector signals become evident.
March 17th Daily Market Comments
Another consolidation day, likely waiting for the Fed meeting. The Dow is trading flat. The NASDAQ and the S&P 500 are trading lower but indecisively lower, Doji days still above the T line. Numerous stocks that sold off yesterday are bouncing back up today, the T-line be in a relevant support level. There appears to be sector rotation. Close out long positions that are not showing confirming strength. Numerous positions have been closed out because they close below the T-line. Be patient, sit in cash for a few days until new stock/sector signals become evident.