Today’s early trading reveals consolidation. Why is this anticipated as consolidation versus a reversal? The Dow and S&P 500 are trading slightly positive while the NASDAQ is trading lower. Numerous individual stock charts, although trading slightly lower, are trading indecisively, Doji type formations. This illustrates that although there is some selling, it is not with any great urgency. Continue to stay predominantly long. Today may not be a riproaring day but it is still maintaining the upward trend of the markets, staying above the T-line.
October 29th Daily Market Comments
Today’s early trading reveals consolidation. Why is this anticipated as consolidation versus a reversal? The Dow and S&P 500 are trading slightly positive while the NASDAQ is trading lower. Numerous individual stock charts, although trading slightly lower, are trading indecisively, Doji type formations. This illustrates that although there is some selling, it is not with any great urgency. Continue to stay predominantly long. Today may not be a riproaring day but it is still maintaining the upward trend of the markets, staying above the T-line.