The positive trading of Friday created potential reversal signals in all the indexes. Today’s positive trading has not yet breached the T-line. Currently the T-line is still a very important downtrend been factor. Short positions still remain the prominent bias of the portfolio. Gold and oil have hit congestion/resistance levels, making those sectors non-bullish prospects at this point.
May 9th Daily Market Comments
The positive trading of Friday created potential reversal signals in all the indexes. Today’s positive trading has not yet breached the T-line. Currently the T-line is still a very important downtrend been factor. Short positions still remain the prominent bias of the portfolio. Gold and oil have hit congestion/resistance levels, making those sectors non-bullish prospects at this point.