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Daily Market Comments - March 2011

3/23 - Stock Market Comments

The NASDAQ is trading slightly lower while the Dow is trading higher. This is additional evidence that there is no change of investor sentiment. Continue to trade positions as if this market is in a slow uptrend, which is exactly what it is doing.

3/22 - Stock Market Comments

The transportation index provided bullish support Wednesday while the Dow was trading weaker. Thursday the transportation index is supporting the bearish direction. It is currently supporting at the 50 day moving average. Obviously it will be important to see where the markets closed Thursday, however the Dow has been given indications of weakness over the past five trading days.

3/20 - Stock Market Comments

After the initial selling this morning, the markets are pretty well stabilized. The Dow is holding up above the T-line. In these market conditions, how the market closes this afternoon is an important factor.

3/19 - Stock Market Comments

There is no change of investor sentiment in the markets although the Dow is down slightly. The NASDAQ and the S&P 500 is trading slightly positive. As long as there is no evidence of severe selling, the current uptrend remains in progress as long as the indexes remain above the T-line.

3/15 - Stock Market Comments

Today's lackadaisical trading could be considered consolidation or note how the trajectory of the trend is the same trajectory as prior to the pullback last week. If this means the market is now continuing its slow uptrending progress, be prepared to take advantage of the high profit/high potential chart patterns that will perform well without the fear of a drastic market pullback.

3/14 - Stock Market Comments

Yesterday's power buying clearly illustrated the bullish sentiment was still in control. It would not be unusual to see some profit-taking today but currently the premarket futures do not show any severe selling on the open. Stay long until there is the appearance of a severe sell signal. However, anticipate a 45 from this level ,the same trend trajectory that was occurring prior to the pullback.

3/13 - Stock Market Comments

The market indexes are now trading above their recent highs. This negates the berries sentiment created by the big selling day of last Tuesday. We are now back to our previous recommendations of continuing to stay predominantly long with a few short positions scattered in the portfolio.

3/12 - Stock Market Comments

The Dow needed to open positive and trade positive this morning to keep from confirming that shooting star type signal set up on Friday. It is trading positive but the NASDAQ is trading flat as well as the S&P 500.

3/9 - Stock Market Comments

 The markets have shown good strength over the past three days ,however the break in the market trend on Tuesday is now an alert. It will be important to see trading get back up above the recent highs. Otherwise a failure before the recent high will indicate the Bulls have given up and a downtrend will start. Stay long but be ready for any sell signal in the markets.

3/8 - Stock Market Comments

 Today's positive open indicates another bullish day but be cognizant of whether the markets can move back up to new highs. First, the indexes need close above the T line. Watch that level to see what type of signals appear.  If long ,be very nimble, a failure move into new high territory over the next few days could see disappointment from the Bulls ,causing a selloff .

3/7 - Stock Market Comments

Numerous stock positions were stopped out yesterday when the premarket futures indicated lower trading on the open. This would have confirmed a hanging man signal in the Dow been further deterioration of the NASDAQ after it pick close below the T line the previous day. Today's positive trading in the premarket futures have to be observed as to whether yesterday's selling was pent up profit-taking.

3/2 - Stock Market Comments 

Monday's trading continues to illustrate a lack of conviction to the upside or the downside. The prognosis remains the same, anticipate a slow uptrend as long as the indexes remain above the T-line. In these market conditions, analyzing the individual stock charts becomes more important for finding which stocks will move strongest. This is a benefit for candlestick investing because the general market is not going to influence a price move.


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