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Daily Market Comments - April 2012


4/30 - Stock Market Comments

After a relatively strong week last week, it is not unusual to see some profit taking on a Monday morning. Monday's profit-taking does not reveal any major change of investor sentiment, so far. Maintain a bullish bias in the portfolio.

4/26 - Stock Market Comments

The strong bullish day Wednesday in the markets, especially the gap up in the NASDAQ, provided a very clear picture in which way bullish sentiment wants to move the market. Continue to stay predominantly long as long as the indexes remain above the T-line.

4/25 - Stock Market Comments

Tuesday's trading created a corundum. The markets did not know which way it wanted to go. Wednesday's trading solve that problem. The tremendous Up in the NASDAQ provided a strong trend scenario. It formed an island reversal. At the same time, the DOW confirmed a bullish Harami and closed significantly above the T-line. Use the simple trend analysis, as long as the indexes close above the T-line, and uptrend is in progress.

4/24 - Stock Market Comments

Do you know which direction the market is moving? It sure doesn't! No compelling direction, a sideways movement, longs and shorts in the portfolio is the correct strategy. Fortunately candlestick scans alow for good longs and good shorts at the same time.

4/23 - Stock Market Comments

A hard sell off , like todays trading, is hard to make a good judgement call. The best is to hold off until the market settles out. Be ready to short more if the markets don't close near the high end of their range today.

4/20 - Stock Market Comments

The direction of the market is illustrated by bullish signals forming at the bottom of this current trend channel. The magnitude of the market move is demonstrated by reoccurring selling days during the uptrend. The uptrend will continue as long as there is inklings of worry about the uptrend. The slow uptrending market is still providing opportunities both on the long side and the short side.

4/19 - Stock Market Comments

Thursday's trading is showing there is not any bearish sentiment, not any major bullish sentiment, but enough buying to indicate the T-line still remains a factor. The slow uptrend is still in progress. This continues to allow for long positions and short positions to be in the portfolio.

4/18 - Stock Market Comments

After a bullish day like Tuesday, expect some profit-taking first thing this morning. The Dow has already pulled back and tested the T-line. The NASDAQ opened lower but is now in the process of going positive.

4/17 - Stock Market Comments

The 50 day moving average was acting as a worrisome resistance level for the Dow. A failure to get up through that moving average could possibly have produced a blue ice failure, moving the markets down to the 200 day moving average.

4/16 - Stock Market Comments

Although the markets showed some strength last week, there was still one pattern that indicated a warning . The Dow confirmed a bullish Harami on Thursday and closed right at the 50 day moving average. This made for one last confirmation. The Dow needed to close above the 50 day moving average over the next couple of days to confirm the uptrend was back in progress.

4/13 - Stock Market Comments

Thursday's strong bullish trading brought all the indexes back up through the T-line. However, the Dow at the 50 day moving average. Until the Dow can close above the 50 day moving average, there is the possibility only blue ice failure. This would warrant not buying anything aggressive until the Dow can come up through the 50 day moving average.

4/12 - Stock Market Comments

The Dow has tested the T-line. The NASDAQ and the S&P 500 is also testing the T-line. However, until there are closes above the T-line, the down trend is still in progress.

4/11 - Stock Market Comments

Although the markets have shown good strength this morning, the important information about the trend will be indicated going into the close. Keep in mind, downtrends show buying in the morning and selling in the afternoon.

4/10 - Stock Market Comments

The continued weakness as expected after the indexes have broken down through support levels. Anticipate the S&P 500 and the NASDAQ pushed down toward the 50 day moving average.

4/9 - Stock Market Comments

The formation of a Doji on Thursday allowed for immediate portfolio changes today. Upon seeing the premarket futures showing a dramatically lower open, long positions that were confirming potential sell signals would have been closed out immediately.

4/5 - Stock Market Comments

The markets did not appear to be indicating any change of investor sentiment especially before a three-day weekend. Anticipate trading to get very quiet this afternoon. As the slow uptrend continues, candlestick patterns such as the Fry pan bottoms will continue to perform properly.

4/4 - Stock Market Comments

The markets of sold off relatively hard this morning without any reversal signal. Currently, the 10 min. chart as shown the Dow just closing back above the T-line after stabilizing for the past hour.

4/3 - Stock Market Comments

Today's steadiness in trading in the markets reveals no change of investor sentiment. Although this may sound like a broken record, the longer this slow steady uptrend persists, the better the opportunity for candlestick price patterns to perform with huge upside potential.

4/2 - Stock Market Comments

The markets continue to indicate a slow steady uptrend, the T-line remains a strong trend indicator. Until there is a definite change of investor sentiment, the prognosis remains the same. Stay in charts that continued to show strong candlestick buy signals.


 

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