The NASDAQ is showing buy signals at the 50 day moving average, with current trading just above the T-line. The Dow, however, trading positive has stalled at the 3T-line and stochastics are still just now heading into the oversold area. This combination indicates the majority of the selling may be over, a bottom trying to form in this area. Short positions have not shown any great resiliency to the downside. Continue to take advantage of the bullish frypan bottom patterns.
September 15th Daily Market Comments
The NASDAQ is showing buy signals at the 50 day moving average, with current trading just above the T-line. The Dow, however, trading positive has stalled at the 3T-line and stochastics are still just now heading into the oversold area. This combination indicates the majority of the selling may be over, a bottom trying to form in this area. Short positions have not shown any great resiliency to the downside. Continue to take advantage of the bullish frypan bottom patterns.