Once again the markets are trading in the opposite direction of the previous day. Today’s positive trading still has the trading within the wedge formation in the Dow and the S&P 500. The NASDAQ is still trading in the sideways range. The wedge formation is getting towards a breaking point at the tip of the wedge. Be prepared for a strong move once a breakout occurs, either bullish or bearish. Continue to have both long and short positions in the portfolio.
September 15 Daily Market Comments
Once again the markets are trading in the opposite direction of the previous day. Today’s positive trading still has the trading within the wedge formation in the Dow and the S&P 500. The NASDAQ is still trading in the sideways range. The wedge formation is getting towards a breaking point at the tip of the wedge. Be prepared for a strong move once a breakout occurs, either bullish or bearish. Continue to have both long and short positions in the portfolio.