There is really no consensus between the Bulls and the Bears on a day-to-day basis. This is much more clearly illustrated from the graphics of candlestick charts, bullish candle one day, bearish candle the next day. There are very few bullish positions that are remaining in a consistent uptrend. The more profitable trades have been to the short side recently,SRPT, NLNK,SPWR. But the number of confirmed signals or patterns has diminished dramatically in this sideways movie market. There are times when both be in long and short is prudent. There are times when sitting in cash is prudent. This whipsaw action of the sideways market is making cash the logical strategy.
October 27th Daily Market Comments
There is really no consensus between the Bulls and the Bears on a day-to-day basis. This is much more clearly illustrated from the graphics of candlestick charts, bullish candle one day, bearish candle the next day. There are very few bullish positions that are remaining in a consistent uptrend. The more profitable trades have been to the short side recently,SRPT, NLNK,SPWR. But the number of confirmed signals or patterns has diminished dramatically in this sideways movie market. There are times when both be in long and short is prudent. There are times when sitting in cash is prudent. This whipsaw action of the sideways market is making cash the logical strategy.