September 8th Daily Market Comments

NASDAQ down, Dow up, opposite of yesterday’s trading. The Dow continues to demonstrate a wedge formation, using the 50 Day Moving Average as a support. The prognosis remains the same, have both long and short positions in the portfolio. The hurricane is influencing bullish trading in the building supply companies and bearish trading in the insurance companies. Candlestick patterns continue to work well, a frypan bottom in effect in NFLX and DVAX. Bearish J-hook patterns working in computer peripherals. There are good profits being made in both directions when the market in general continues to move sideways.