The market indexes divergence remains the same, the NASDAQ is trading lower but is showing the possibility of supporting at the 50 day moving average. It is currently doing a Doji day but the stochastics are still heading down. This would imply another day or two of hovering near the 50 day moving average until stochastics get into the oversold area. The strategy remains the same, short positions are working and long positions are working, have both in the portfolio.
May 6th Daily Market Comments
The market indexes divergence remains the same, the NASDAQ is trading lower but is showing the possibility of supporting at the 50 day moving average. It is currently doing a Doji day but the stochastics are still heading down. This would imply another day or two of hovering near the 50 day moving average until stochastics get into the oversold area. The strategy remains the same, short positions are working and long positions are working, have both in the portfolio.