November 24th Daily Market Comments

The Dow and the S&P 500 have pullback today to the T-line area. The NASDAQ has gap down from a Doji and currently trading below the T-line. A close below the T-line in the NASDAQ would diminish any upside prospects and would at best indicate a sideways wedge formation was in progress. That same prognosis would imply to the Dow and the S&P 500 if they close below the T-line today. The wedge formation would indicate a lack of direction in the markets going into the end of the year. Continue to have long and short positions in the portfolio.

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