A bounce, but nothing yet to show a change of the bearish sentiment. The indexes continue to trade well below the T line. As usual, buying usually occurs early in the day during a downtrend but then experiences more selling later in the day. It is when the selling does not come into a trend late in the day that reveals better probabilities of the bulls try to take control. For now, stay predominately short.
May 2nd Daily Market Comments
A bounce, but nothing yet to show a change of the bearish sentiment. The indexes continue to trade well below the T line. As usual, buying usually occurs early in the day during a downtrend but then experiences more selling later in the day. It is when the selling does not come into a trend late in the day that reveals better probabilities of the bulls try to take control. For now, stay predominately short.