The indexes still do not show any decisive trend movement. Although the NASDAQ is trading higher so far today, it is trading below where it opened. The Dow is showing the same thing. The S&P 500, although trading higher, is trading right about where it opened, forming an indecisive Doji day. This would produce an analysis that the market trend is not changing from what it was doing last week. Having both long and short positions in the portfolio remains prudent. However, the one factor that reveals the lack of any major selling is the transportation index, up 150 points Today, a Frypan bottom type pattern remaining above the T-line.
September 10th Daily Market Comments
The indexes still do not show any decisive trend movement. Although the NASDAQ is trading higher so far today, it is trading below where it opened. The Dow is showing the same thing. The S&P 500, although trading higher, is trading right about where it opened, forming an indecisive Doji day. This would produce an analysis that the market trend is not changing from what it was doing last week. Having both long and short positions in the portfolio remains prudent. However, the one factor that reveals the lack of any major selling is the transportation index, up 150 points Today, a Frypan bottom type pattern remaining above the T-line.