The Mueller report Today did not help the market that was already continuing to move in its current direction. The 200 day moving average still appears to be the potential target for the NASDAQ and the S&P 500. The Dow gapped down through the support levels creating the prospects of a bearish J-hook wave three to the downside. Any short positions added at these levels should be done with a quick trade prospect if the markets start bouncing from here. If already predominantly short, the best strategy at this point is to just sit and be prepared to take profits upon the first signs of a bullish signal.
May 29th Daily Market Comments
The Mueller report Today did not help the market that was already continuing to move in its current direction. The 200 day moving average still appears to be the potential target for the NASDAQ and the S&P 500. The Dow gapped down through the support levels creating the prospects of a bearish J-hook wave three to the downside. Any short positions added at these levels should be done with a quick trade prospect if the markets start bouncing from here. If already predominantly short, the best strategy at this point is to just sit and be prepared to take profits upon the first signs of a bullish signal.