08/02/17 - Stock Market Comments

Observe the obvious! Without the strength of Apple Today, the Dow would be showing weakness. The NASDAQ and S&P 500, although opening higher, are now trading lower. The NASDAQ is in the process of forming its third bearish engulfing signal over the past five trading days. This illustrates the lack of any bullish sentiment, the sellers are starting to take control. Any long positions showing weakness should be closed. Short positions should be added to the portfolio. This is why we recommend Trend Analysis.