Yesterday, although the Dow traded up stronger, the other indexes did not show any great strength. This was a potential red flag that the Bulls were running out of steam. The NASDAQ and the S&P 500 are currently trading below the T-line. The transportation index is selling off with the greatest movement, trading well below the T-line. Stochastics are heading down after sell signals in the indexes. Other than the Dow, the NASDAQ, the S&P 500, and the transportation index are indicating the sellers are starting to take control. Be prepared to take profits on bullish charts that are start to show sell signals and heading below the T-line. Expect some downtrend for the next few days until there is another Bullish reversal signal.
October 25th Daily Market Comments
Yesterday, although the Dow traded up stronger, the other indexes did not show any great strength. This was a potential red flag that the Bulls were running out of steam. The NASDAQ and the S&P 500 are currently trading below the T-line. The transportation index is selling off with the greatest movement, trading well below the T-line. Stochastics are heading down after sell signals in the indexes. Other than the Dow, the NASDAQ, the S&P 500, and the transportation index are indicating the sellers are starting to take control. Be prepared to take profits on bullish charts that are start to show sell signals and heading below the T-line. Expect some downtrend for the next few days until there is another Bullish reversal signal.