Yesterday’s potential bullish reversal signals required confirmation today which is not occurring, especially in the NASDAQ. The T-line remains a relevant resistance level. Although there is no evidence of consensus selling, there is also no evidence of consensus buying. This implies the market conditions will continue to remain waffling, making having both long and short positions in the portfolio the best trading strategy.
September 12th Daily Market Comments
Yesterday’s potential bullish reversal signals required confirmation today which is not occurring, especially in the NASDAQ. The T-line remains a relevant resistance level. Although there is no evidence of consensus selling, there is also no evidence of consensus buying. This implies the market conditions will continue to remain waffling, making having both long and short positions in the portfolio the best trading strategy.