After gapping up in the overbought area, yesterday’s trading brought the NASDAQ and the S&P 500 back down below the open of the gap up. This is usually a strong sell indicator. The Harami in the Dow indicated the likely pullback on weakness today, back to test the 200 day moving average. Short positions are working better.
March 31st Daily Market Comments
After gapping up in the overbought area, yesterday’s trading brought the NASDAQ and the S&P 500 back down below the open of the gap up. This is usually a strong sell indicator. The Harami in the Dow indicated the likely pullback on weakness today, back to test the 200 day moving average. Short positions are working better.