After opening lower Today, the market indexes are currently trading above where they opened. This reveals that although the markets are lower, there is still buying occurring at these levels. The T-line remains a relevant factor. The indexes are hovering at the T-line level. It will be important to see whether the T-line holds as a support today. Stay predominantly long but a close below the T-line at the end of the day would warrant taking some long positions out of the portfolio.
May 23rd Daily Market Comments
After opening lower Today, the market indexes are currently trading above where they opened. This reveals that although the markets are lower, there is still buying occurring at these levels. The T-line remains a relevant factor. The indexes are hovering at the T-line level. It will be important to see whether the T-line holds as a support today. Stay predominantly long but a close below the T-line at the end of the day would warrant taking some long positions out of the portfolio.