Friday’s gap up in both the Dow and the NASDAQ was an indication that strong buying came back into the market after the Dow formed a hammer signal at the 50 day moving average. The Labor Day weekend which indicates the end of the summer, usually has all the traders back to business. As seen in today’s trading, the investor sentiment remains the same indecisive nature as illustrated for the past two months. With the indexes continuing to trade above the T-line, the prognosis remains simple, the sideways mode of the market remains in progress. Continue to evaluate each individual stock chart on its own merits/signals and patterns.
September 6th, 2016
Friday’s gap up in both the Dow and the NASDAQ was an indication that strong buying came back into the market after the Dow formed a hammer signal at the 50 day moving average. The Labor Day weekend which indicates the end of the summer, usually has all the traders back to business. As seen in today’s trading, the investor sentiment remains the same indecisive nature as illustrated for the past two months. With the indexes continuing to trade above the T-line, the prognosis remains simple, the sideways mode of the market remains in progress. Continue to evaluate each individual stock chart on its own merits/signals and patterns.