An up day in a downtrend so far. The manufacturing report is apparently producing some hope that inflation is receding. However, there is not any evidence of a major change of investor sentiment as long as there is not a reversal signal and a close above the T line in the market indexes. The same analysis should be applied to short positions that have not yet shown buy signals and closes above the T line.
October 3rd Daily Market Comments
An up day in a downtrend so far. The manufacturing report is apparently producing some hope that inflation is receding. However, there is not any evidence of a major change of investor sentiment as long as there is not a reversal signal and a close above the T line in the market indexes. The same analysis should be applied to short positions that have not yet shown buy signals and closes above the T line.