Today’s balance/positive trading should not be unexpected after the large selloff yesterday in the markets. However, although stochastics are already in the oversold condition, any buying in today’s positive trading should be done with the realization that long trades might have to be closed out immediately if the markets continue to selloff. Today’s positive trading, currently forming a bullish Harami, will require bullish trading going into the close. The markets could be reversing but today’s potential signal needs confirmation tomorrow.
September 29th Daily Market Comments
Today’s balance/positive trading should not be unexpected after the large selloff yesterday in the markets. However, although stochastics are already in the oversold condition, any buying in today’s positive trading should be done with the realization that long trades might have to be closed out immediately if the markets continue to selloff. Today’s positive trading, currently forming a bullish Harami, will require bullish trading going into the close. The markets could be reversing but today’s potential signal needs confirmation tomorrow.