Today’s expected bounce can be seen in the Dow but the other indexes, after trading slightly higher, are now back down to even or trading lower. Until there is a definite reversal signal, assume the current downtrend remains in progress. Stochastics are now just getting to the oversold level. Yesterday’s damage to bullish sentiment should take at least a few days of support area before the Bulls will likely step back in. Gold and oil are trading positive Today, watch stocks in those sectors.
March 23rd Daily Market Comments
Today’s expected bounce can be seen in the Dow but the other indexes, after trading slightly higher, are now back down to even or trading lower. Until there is a definite reversal signal, assume the current downtrend remains in progress. Stochastics are now just getting to the oversold level. Yesterday’s damage to bullish sentiment should take at least a few days of support area before the Bulls will likely step back in. Gold and oil are trading positive Today, watch stocks in those sectors.