Although the market indexes opened positive Today, currently they are not showing any follow-through. This is creating indecisive candles, indicating there is no dramatic reversal of the trend. Yesterday, the NASDAQ and the S&P 500 showed a possible bounce off the 200 day moving average, making for the possibility of a reversal/bounce from that level based upon seeing good bullish strength today. Currently, the markets are not demonstrating any major strength. The analysis of each individual stock chart should be the top criteria until there is a definite reversal in the market indexes.
May 30th Daily Market Comments
Although the market indexes opened positive Today, currently they are not showing any follow-through. This is creating indecisive candles, indicating there is no dramatic reversal of the trend. Yesterday, the NASDAQ and the S&P 500 showed a possible bounce off the 200 day moving average, making for the possibility of a reversal/bounce from that level based upon seeing good bullish strength today. Currently, the markets are not demonstrating any major strength. The analysis of each individual stock chart should be the top criteria until there is a definite reversal in the market indexes.