05/03/17 - Stock Market Comments

Today's lower open in the NASDAQ after Yesterday's hanging man signal in the overbought condition illustrates the area of profit-taking in the NASDAQ trend. The Dow and S&P 500 are trading lower but in decisively, Doji type days. The T-line remains a relevant factor, both for analyzing the market trend as well as individual stock moves. FUEL illustrates a J-hook pattern using the T-line as support. Our recommendation on LNTH based upon the Doji Sandwich breakout had a potential sell signal Yesterday but did not close below the T-line.