Daily Market Comments - September 2009
9/30 -Stock Market Comments
After Tuesday's profit-taking, today's positive open doesn't appear to have any vital strength. The markets appear to be waiting for something. Note how the trading of the markets has been absolutely flat for the past two weeks. The T-line will be a very important support indicator. Continue to hold the strong chart patterns but remain nimble. The sideways mode may be indicating that this is the time to be taking quick profits.
9/29 - Stock Market Comments
After the markets came back up thru the T-line on Monday, the uptrend should be back. Stay long and stay nimble.
9/28 - Stock Market Comments
Although the markets are trading below the T-line, the strength of the selling hasn't been overpowering. There is still a significant number of stocks that have been trading positive or flat over the past few days. Consider the downtrend as still being in progress until a signal illustrates differently. Be careful about buying on strength early in the day.
9/25 - Stock Market Comments
Currently the markets are in a downward mode. After the Bearish Engulfing signal of Tuesday, followed by more selling below the T-line on Thursday, the downward trend is the predominant prognosis. However, the selling has not yet shown any aggressiveness. This would put the downward trend more in the profit-taking arena than a hard selloff. Long positions require the evidence of a good strength to continue to hold. Use some of the short funds for pullback protection.
9/24 - Stock Market Comments
The whipsaw action on Wednesday after the Fed announcement could be providing the opportunity for some profit-taking. Today's positive trading indicates the lack of any aggressive change in investor sentiment. If today's trading closes near the upper end of the trading range, the T-line will once again have acted as an important factor.
9/23 - Stock Market Comments
The Dow and the Nas continue to show consistency. The broken record scenerio is to continue holding the strong stocks. The trend format is obvious, with slow moving, positive trading days. When that format changes, such as exuberant buying coming in at the top of a trend or a severe candlestick sell signal, that will be a sign that this current trend is over. Until then, enjoy the steady uptrend.
9/22 - Stock Market Comments
Although the Dow closed lower on Monday, the NASDAQ closed slightly higher. This merely revealed today's positive trading continues to indicate progress. Continue to hold the strong charts that have not indicated any confirmed sell signals. Be patient and be nimble.
9/21 - Stock Market Comments
Today's weaker open should be part of the expectations after the markets have had a nice steady uptrend for the past few weeks. Take profits on charts that are confirming pullbacks below the T-line. However, after the initial selling this morning, watch to see if the Bulls start stepping back in.
9/17 - Stock Market Comments
The slow steady rise in this market doesn't lead to any great expectation of a hard sell-off. The bullish sentiment may be a result of expecting the normal speed of government actions, which is extremely slow. The longer it takes the government to inject its influence on the economy, the better it is for the economy. The pre-market futures were absolutely flat. The early morning trading is absolutely flat. The chart patterns of individual stocks will become the predominant investment factors. There will still be strong price moves in specific sectors.
9/16 - Stock Market Comments
The slow steady building of this uptrend has made it very solid. Profit-taking has been occurring on an intraday basis. The uptrend has not experienced any exuberance. Continue to use the strong charts as long as this market doesn't experience a severe sell signal. The lack of any change of investor sentiment will continue to allow the patterns to perform as expected.
9/14 - Stock Market Comments
The lethargic trading on Friday indicated some profit-taking possibilities. So far today, the Dow has come back very close to the T-line before bouncing back up. The NASDAQ opened lower but is now moving back up. The uptrend is still in progress but keep your fingers on the trigger. The indexes are in the overbought area. However, the Dow has not yet reached the top end of the trading channel, the next likely target. Continue to participate in the strong chart patterns.
9/11 - Stock Market Comments
Eight years ago today our lifestyles changed dramatically. An attack on the US could have created devastating economic results. However, the US economy is a very resilient entity. Even today, government intervention that could have some devastating effects on our economy is not stopping American business. The markets have had a slow steady uptrend these past two weeks. Look for the uptrend to continue until it reaches the top of the trend channel.
9/9 - Stock Market Comments
Both the Dow and the NASDAQ are in the middle of their uptrending channel range. The implication is that this current trend should move toward the top end of the trading channel. There is a week or so of bullish market potential. Continue to keep funds in the sectors that are showing good strength. The solar energy stocks have gained new strength over the past few days.
9/8 - Stock Market Comments
The positive trading on Friday and this morning puts both the Dow and the NASDAQ back above the T-line. The slow upward trend of the market is making the trend channel the predominant analytical indicator. The slow sideways moving markets still allow for some big profits to be made in the high powered stock charts. Investor sentiment remains unchanged. Use that information to your advantage.
9/4 - Stock Market Comments
Today's positive trading needs to be watched with diligence. As can be observed, there is no great force on the bullish side or the bearish side yet. Remain nimble, any trades placed today need to be done with the idea that they will be closed out immediately if the market moves with any strength against the positions.
9/3 - Stock Market Comments
The markets traded very indecisive when on Wednesday, the Dow traded lower in the final 20 minutes of the day. The NASDAQ traded flat all day long. Today's positive trading should be viewed as a potential stabilization of the sideways moving market. However, if the indexes come back down through their opens, that should be viewed as a downward trend still in progress. Be nimble.
9/2 - Stock Market Comments
After a few minutes of trading positive Tuesday morning, the markets came back down through their openings and continued to head south. This put them once again below the T-line. That was confirmation that the Bears were in control after the previous days trading below the T-line. Anticipate at least a couple of more days of indecisive/bearish trading. The bullish trend would require a Bullish Harami such as what we saw during the last pullback in mid-August. Until a bullish signal appears, this market will be in a bearish bias.
9/1 - Stock Market Comments
Today's market weakness on the open indicates more profit-taking over the next day or so. Move money out of weak charts and be prepared to recommit funds once the markets appear to have washed out the profit-taking. Stay with the strong sectors. The bank sector and the small biotech's are showing good strength.