Although the markets opened positive Today, the current trading reveals the downtrend probabilities are still intact, with the indexes continuing to trade below the T-line. The transportation index indicates the most bearish trend movement. The trading strategy is very simple. Stay predominantly short until the appearance of candlestick buy signals and a close backup above the T-line. There are a couple of bullish kicker signals that warrant trading long but the overall bias of the portfolio should still be to the short side.
May 28th Daily Market Comments
Although the markets opened positive Today, the current trading reveals the downtrend probabilities are still intact, with the indexes continuing to trade below the T-line. The transportation index indicates the most bearish trend movement. The trading strategy is very simple. Stay predominantly short until the appearance of candlestick buy signals and a close backup above the T-line. There are a couple of bullish kicker signals that warrant trading long but the overall bias of the portfolio should still be to the short side.