The Dow is currently trading right about where it opened, down 120 points. The S&P 500 also a Doji so far today. The NASDAQ is trading lower but above where it opened. However, although the NASDAQ is exhibiting some buying, it currently is not strong enough to illustrate any change of the markets downtrends. Continue to stay predominantly short until you see definite reversals in the market indexes. The downtrend remains in progress with stochastics still heading down. A reversal at this stage would require a dramatic bullish candle.
March 8th Daily Market Comments
The Dow is currently trading right about where it opened, down 120 points. The S&P 500 also a Doji so far today. The NASDAQ is trading lower but above where it opened. However, although the NASDAQ is exhibiting some buying, it currently is not strong enough to illustrate any change of the markets downtrends. Continue to stay predominantly short until you see definite reversals in the market indexes. The downtrend remains in progress with stochastics still heading down. A reversal at this stage would require a dramatic bullish candle.