Be careful of the bounce, the Dow is still trading below the T line after a strong evening star signal failure at the 50 day moving average. Assume the downtrend is still in progress. Unfortunately, a positive trading day today would indicate more sideways motion of the markets. Be very selective, any positioning in these market conditions should have very strong chart indications.
March 9th Daily Market Comments
Be careful of the bounce, the Dow is still trading below the T line after a strong evening star signal failure at the 50 day moving average. Assume the downtrend is still in progress. Unfortunately, a positive trading day today would indicate more sideways motion of the markets. Be very selective, any positioning in these market conditions should have very strong chart indications.