September 21 Daily Market Comments

Today’s positive trading puts the Dow and the S&P 500 just above the T-line, currently creating a bullish Harami. The NASDAQ, after a shooting star failure at the 50 day moving average and closing on Friday back at the T line area, is trading positive today providing a potential of a bobble pattern as long as the NASDAQ closes above the T-line. It will be important to see the Dow and the S&P 500 close above the T-line to indicate the uptrend is remaining in progress, although it should be a very slow uptrend. Continue to have both long and short positions in the portfolio.