Keep in mind, in a downtrend it is not unusual to see some buying early in the day followed by selling later in the day. An uptrend, the selling is early in the day, followed by buying later in the day. Today’s early buying should not be viewed as a reversal in the downtrend. What occurs at the end of today’s trading will be much more relevant. Until there is a dramatic reversal signal in the indexes, consider the current downtrend to be in progress.
October 8th Daily Market Comments
Keep in mind, in a downtrend it is not unusual to see some buying early in the day followed by selling later in the day. An uptrend, the selling is early in the day, followed by buying later in the day. Today’s early buying should not be viewed as a reversal in the downtrend. What occurs at the end of today’s trading will be much more relevant. Until there is a dramatic reversal signal in the indexes, consider the current downtrend to be in progress.