Yesterday’s trading took the indexes up toward the top of the resistance levels. Today’s indecisive trading illustrates IF the uptrend is in progress, it still does not have any powerful conviction as of yet. Obviously the long positions should have more weight in the portfolio. Any short positions in the portfolio should have compelling weakness, no potential candlestick buy signals. Crude oil trading positive today is creating a bobble pattern, watch the oil stocks.
September 16 Daily Market Comments
Yesterday’s trading took the indexes up toward the top of the resistance levels. Today’s indecisive trading illustrates IF the uptrend is in progress, it still does not have any powerful conviction as of yet. Obviously the long positions should have more weight in the portfolio. Any short positions in the portfolio should have compelling weakness, no potential candlestick buy signals. Crude oil trading positive today is creating a bobble pattern, watch the oil stocks.