Yesterday’s gap up in the Dow required continued bullish trading Today. Today’s lower open makes Yesterday’s Gap up an indication of exhaustion at the top. The gap down in the NASDAQ and the S&P 500, after Yesterday’s indecisive trading in those indexes, indicates a strong change of investor sentiment. Close out long positions that are showing definite sell signals. Be ready to scan for short positions Today or after the close this evening.
October 19th Daily Market Comments
Yesterday’s gap up in the Dow required continued bullish trading Today. Today’s lower open makes Yesterday’s Gap up an indication of exhaustion at the top. The gap down in the NASDAQ and the S&P 500, after Yesterday’s indecisive trading in those indexes, indicates a strong change of investor sentiment. Close out long positions that are showing definite sell signals. Be ready to scan for short positions Today or after the close this evening.