As illustrated in the Dow chart yesterday, a close below the T-line was an indication there might be some consolidation over the next few days. The NASDAQ is currently trading right at the T-line. The S&P 500 is trading below the T-line. Except for the NASDAQ, the other indexes are showing weakness/sell signals at the same levels the indexes topped out back in March. The main driving force of the markets are still predicated upon the expectations of things getting done in Washington DC. The market itself acts as a barometer as to what investor sentiment feels is being accomplished between our illustrious politicians. Expects some more sideways/consolidation.
May 11th Daily Market Comments
As illustrated in the Dow chart yesterday, a close below the T-line was an indication there might be some consolidation over the next few days. The NASDAQ is currently trading right at the T-line. The S&P 500 is trading below the T-line. Except for the NASDAQ, the other indexes are showing weakness/sell signals at the same levels the indexes topped out back in March. The main driving force of the markets are still predicated upon the expectations of things getting done in Washington DC. The market itself acts as a barometer as to what investor sentiment feels is being accomplished between our illustrious politicians. Expects some more sideways/consolidation.