October 30th Daily Market Comments

The market trend analysis remains the same. Specific stocks and sectors continue to act well based upon the strength of individual stock chart candlestick patterns. The NASDAQ continues the uptrend, the S&P 500 and the Dow are still in a sideways mode and the transportation index is drifting lower. This illustrates merely the shifting of funds from sector to sector, oil stocks remain strong while retail stocks are trading lower. This allows for having both long and short positions in the portfolio working profitably.