May 15th Daily Market Comment

Another tweet! Another change of investor sentiment in the markets! The 200-day moving average is acting as a strong support level for the Dow. All the indexes opened lower today but are now currently trading well above where they opened. The indexes appear to be trying to base at levels they bottomed out a month ago. Short positions should now be analyzed with the idea that this might be the area where the Bulls are stepping back in. Any long positions added at this area still require confirmation.