October 15th Daily Market Comments

Although the markets are trading lower Today, because of the lack of results for a stimulus package, numerous stocks are trading above where they opened. This obviously indicates many stock price trends get influenced by knee-jerk market reaction but then the prevailing investor sentiment for that stock price sets back in. The market trend prognosis remains the same, the slow uptrend is likely in progress but it’s going to be a choppy uptrend based upon the day today rhetoric coming out of Washington. Continue to use the T-line as your ultimate trend indicator. The indexes are currently hovering at the T-line.