Daily Market Comments - January 2012
1/27 - Stock Market Comments
Yesterday's trading formed potential sell signals in all of the indexes .this is the first time this has occurred during this uptrend. This does not necessarily mean a full-scale reversal is about to commence, but it does imply that there will be some selling, at least back to test the T-line. A number of recent recommendations have produced good profits. Do not hesitate to take profits and be prepared to reemploy those funds.
1/25 - Stock Market Comments
The Dow is going to open lower while the NASDAQ is going to be opening higher because of the Apple earnings. This scenario simply reveals there is no change of investor sentiment in the markets. Some areas are being bought while other areas are being sold . Stay long until a strong candlestick sell signal appears.
1/23 - Stock Market Comments
The markets showed a good slow consistent uptrend on Friday. Today's premarket futures do not show any change of investor sentiment. Profit-taking has been occurring along the way ,making this current uptrend relatively secure. Continue to stay long.
1/20 - Stock Market Comments
The premarket futures indicate some selling on the open. However, the magnitude of the selling appears to be the normal profit-taking, which would be expected on a Friday. The question often comes up about option expirations day. Because the market hasn't had any great exuberance move over the past week, merely a steady uptrend, would not expect too much movement in today's trading.
1/18 - Stock Market Comments
Although the markets traded well below their highs yesterday, they continued to trade above the T-line it did not alter the trajectory of the uptrends. The Dow, after putting in a strong bullish morning, closed almost as a shooting star signal but not quite. This would indicate the uptrend was not picking up any steam but it did not change the slow uptrend scenario. Continue to hold long positions that remained above the T-line.
1/17 - Stock Market Comments
After the markets have sold off decisively on Friday, the final hour brought the Dow back up above the T-line. More importantly, it formed a hanging man/hammer type formation.
1/11 - Stock Market Comments
Anticipate some profit-taking today the premarket futures are demonstrating some slight selling but until there is a definite reversal signal in this market and a close below the T-line, the uptrend is still in progress. Stay with the strong sectors.
1/10 - Stock Market Comments
Today's positive open in the markets looks fairly substantial. Continue to hold long positions until there is evidence the bears are taking control. Banks, biotech's, and oil drillers are showing strength.
1/09 - Stock Market Comments
The positive open this morning reveals the Bulls have not left this market. Continue to use the simple rule that as long as the markets are above the T-line, the uptrend is still in progress.
1/05 - Stock Market Comments
The premarket futures are showing a slightly lower open today. However, the premarket futures are moving up off their lows from earlier after the economic announcements this morning . This market should still be in an uptrend provided there is no severe sell signals. Oil stocks are a strong sector.
1/04 - Stock Market comments
The first day of the year showed strength, indicating January's overall trend should be positive. Today's premarket futures are indicating some profit-taking. The important support level is now what was the resistance level over the past few months. As long as the indexes trade above the recent resistance level and above the T line, the uptrend will be in progress.