The market analysis remains consistent today as with the past few weeks of trading. Although the indexes are not showing consistent strength across-the-board, they are also not showing any consistent weakness. The Dow and S&P 500 are trading below the T-line showing the likelihood of trading back to the 50 day moving average support level while the NASDAQ continues to trade above the T-line. Specific sectors are providing good profitability. The retailers on the long side. Oil stocks on the short side. Candlestick charts easily illustrate which sectors to be long or short.
May 29th Daily Market Comments
The market analysis remains consistent today as with the past few weeks of trading. Although the indexes are not showing consistent strength across-the-board, they are also not showing any consistent weakness. The Dow and S&P 500 are trading below the T-line showing the likelihood of trading back to the 50 day moving average support level while the NASDAQ continues to trade above the T-line. Specific sectors are providing good profitability. The retailers on the long side. Oil stocks on the short side. Candlestick charts easily illustrate which sectors to be long or short.