When the indexes are trading below the T-line, the downtrend is in progress. Today’s excessive selling is offset a little bit by the fact that the NASDAQ is trading above where it opened, albeit still lower on the day. Are the markets trading off because of tariffs? That is the excuse but note that the sell signals occurred two days before the unexpected announcement. As a candlestick investor, utilize what the signals are illustrating versus knee-jerk reactions to announcements. Stay predominantly short but there are still some long positions producing profits i.e.AAXN.
March 2nd Daily Market Comments
When the indexes are trading below the T-line, the downtrend is in progress. Today’s excessive selling is offset a little bit by the fact that the NASDAQ is trading above where it opened, albeit still lower on the day. Are the markets trading off because of tariffs? That is the excuse but note that the sell signals occurred two days before the unexpected announcement. As a candlestick investor, utilize what the signals are illustrating versus knee-jerk reactions to announcements. Stay predominantly short but there are still some long positions producing profits i.e.AAXN.