The Doji/Hammer type signals that formed in the Dow and S&P 500 Yesterday demonstrated that the Bulls have not left the market yet. But a lower open in those indexes today indicated the lack of any significant Bullish buying, keeping the overall market trend in a sideways/slightly downward trend. The term slightly downward is illustrated by the fact that numerous stocks are still trading positive, especially the biggies, AMZN. AAPL,NFLX, NVDA. These market indications continue to make a slowed downward drifting market the likely prospect until something major occurs to create new confidence coming out of Washington DC. Continue to concentrate on specific stock chart patterns, both on the long side and the short side. This is why we recommend Trend Analysis.
May 12th Daily Market Comments
The Doji/Hammer type signals that formed in the Dow and S&P 500 Yesterday demonstrated that the Bulls have not left the market yet. But a lower open in those indexes today indicated the lack of any significant Bullish buying, keeping the overall market trend in a sideways/slightly downward trend. The term slightly downward is illustrated by the fact that numerous stocks are still trading positive, especially the biggies, AMZN. AAPL,NFLX, NVDA. These market indications continue to make a slowed downward drifting market the likely prospect until something major occurs to create new confidence coming out of Washington DC. Continue to concentrate on specific stock chart patterns, both on the long side and the short side. This is why we recommend Trend Analysis.