Soggy day! There is not anything is showing any major change of investor sentiment but all the indexes are trading lower Today. This is different than the majority of trading days during this slow uptrend where one or two indexes would be trading higher while the other one or two indexes would be trading lower. The NASDAQ is selling off hard, it is currently the only index trading below theT-line. The NASDAQ is also looking like it is creating a sideways wedge formation, implying no major trend movements for the next week or two. Long positions should be watched with more scrutiny and having a few more short positions in the portfolio is prudent.
September 17th Daily Market Comments
Soggy day! There is not anything is showing any major change of investor sentiment but all the indexes are trading lower Today. This is different than the majority of trading days during this slow uptrend where one or two indexes would be trading higher while the other one or two indexes would be trading lower. The NASDAQ is selling off hard, it is currently the only index trading below the T-line. The NASDAQ is also looking like it is creating a sideways wedge formation, implying no major trend movements for the next week or two. Long positions should be watched with more scrutiny and having a few more short positions in the portfolio is prudent.