Daily Market Comments - April 2010
4/30 - Stock Market Comments
Thursday's bullish trading brought both the Dow and the NASDAQ back up above the T-line. The uptrend has to be considered as still being in progress. Remain relatively long but be a little bit defensive because the market did break below the T-line this week. This might be the first crack in the armor but continue to trade the long side until another strong sell signal appears.
4/9 - Stock Market Comments
The T-line once again was a very strong support level. Thursday showed indications of the Bears taking control but by the end of the day the Bulls had come back into the market. Continue to stay long as long as the markets do not close below the T-line.
4/8 - Stock Market Comments
Today's trading has continued to move the price in the Dow below the T-line. The NASDAQ opened lower after Wednesday's Doji. It is currently testing the T-line. Take profits in positions that have shown bearish sentiment. ZUMZ was closed on the lower open today. Adding a short fund to the portfolio would be prudent.
4/5 - Stock Market Comments
The prognosis for the markets remain the same. As long as the markets do not close below the T-line, the uptrend remains in progress. The Dow had the opportunity to sell below the T-line on Thursday after an Evening Star signal in the Dow. The strength on Thursday continued the uptrend. Today's open appears to be positive again. Remain long, but remain nimble.