The consolidation of the markets are continuing but not with any great aggressiveness Today. Although the market indexes are trading slightly lower, they are currently forming Doji’s. Watch to see if the indexes are supporting at the lower and of an uptrending channel. The transportation index is trading higher, illustrating the lack of across-the-board selling pressure in the markets. Remain defensive, maintain a few short positions in the portfolio. Be prepared to close out positions that are not showing compelling movements either on the long side or the short side. The market is still trying to figure out which direction it wants to go.
March 1st Daily Market Comments
The consolidation of the markets are continuing but not with any great aggressiveness Today. Although the market indexes are trading slightly lower, they are currently forming Doji’s. Watch to see if the indexes are supporting at the lower and of an uptrending channel. The transportation index is trading higher, illustrating the lack of across-the-board selling pressure in the markets. Remain defensive, maintain a few short positions in the portfolio. Be prepared to close out positions that are not showing compelling movements either on the long side or the short side. The market is still trying to figure out which direction it wants to go.