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.