Although the Dow is trading much higher, the other indexes do not appear to have the same follow-through strength. The reminder remains that as long as the indexes continue to trade below the T line, bearish sentiment is still in control. Any entry into long positions require confirmation of the bulls maintaining the position going into the close. Retail stocks continue their downtrend.
May 23rd Daily Market Comments
Although the Dow is trading much higher, the other indexes do not appear to have the same follow-through strength. The reminder remains that as long as the indexes continue to trade below the T line, bearish sentiment is still in control. Any entry into long positions require confirmation of the bulls maintaining the position going into the close. Retail stocks continue their downtrend.