November 20th Daily Market Comments

The market trend remains indecisive. The Dow and the S&P 500 are trading lower, but still appearing to use the T-line as support. The NASDAQ, after yesterday’s bullish and golfing signal off the T-line, is just now starting to trade positive today confirming yesterday’s bullish engulfing signal. The electric vehicle stocks are still showing great strength but starting to move a good distance away from the T line, look for potential profit-taking soon. Stay long in sectors that continue to show good strength, short positions are not showing great resiliency, be ready to close short positions if the market starts moving up off the T-line.