March 18th Daily Market Comments

The Dow 20,000 level is the perceived ultimate support level. It continues to hover in that area. This makes watching the 10 minute chart of the Dow very important. Obviously, continuing to sit in cash is the prudent strategy. Today’s lower open/trading remains in the observable nature of the overall market trend, up one day down the next continuation. Stay in cash until it becomes observable the market trend is reversing. There is no evidence of any change of investor sentiment of the current trend. Although this is a boring prognosis, it is better to be boring and keeping the powder dry for the next opportunity. The opportunity will come, be patient.