November 11th Daily Market Comments

Be careful of the bounce! Currently there has not been anything that has changed the recent sell signals in the market indexes. Although the NASDAQ is trading positive Today, it is still being affected by the bearish left right combo and the fact that the stochastics are still in a downward direction. Unless there is a dramatic reversal signal, assume the downtrend in the NASDAQ is still in progress. The Dow appears to have some problems getting up above the all-time high level. Continue to hold short positions and any long positions still require confirmation by staying above the T line.