Each individual daily formations allows for much more accurate assessment of the overall market trend nature. Although the market indexes were not showing any convincing selling over the past few trading days, even given the prospects of the Bulls still tried to maintain control, the most compelling factor was that the indexes, although trading in decisively were trading below the T-line. But the most important analytical factor was the fact that the markets were still in an indecisive stage. This left the probabilities indicating better prospects of more downside until the indexes could close backup above the T-line. The current market conditions, even in today’s trading, shows that the Bulls have brought the trading backup above the open, forming a hammer type signal, but the overall assessment is still witnessing the markets in a slow indecisive pullback.
Fortunately, numerous candlestick bullish charts are still producing profits to the long side but the short positions in the portfolio are doing well.
November 15th Daily Market Comments