Daily Market Comments - June 2012
06/28 - Stock Market Comments
The verdict is out! And the markets apparently did not see it in a favorable light. The downtrend is still in progress, the positive trading of Wednesday which was not in the right conditions in regards to the stochastics, has been completely negated by Thursday's selling.
06/27 - Stock Market Comments
Although the markets are showing good resiliency on the bullish side Wednesday, that bullishness is required going into the close. As witnessed, this market is not selling off dramatically. Stochastics still indicate more downside.
06/25 - Stock Market Comments
The graphic illustration of candlestick signals allows investors to move immediately based upon what a chart is telling. Monday was a perfect example. The pre market futures revealed weakness. The NASDAQ gapped down on the open below the open of Friday.
06/22 - Stock Market Comments
The excess of selling going into the close Thursday was likely to be met with positive trading on the open this morning. Each of the indexes are creating bullish Harami.
06/21 - Stock Market Comments
The markets have moved up into the overbought condition just above the 50 day moving average. It is not unusual to see some consolidation back to the 50 day moving average to test whether it will act as support.
06/20 - Stock Market Comments
The markets are not moving today in anticipation of the Fed announcements. However there are still numerous stock positions that are showing good chart do not be too analytical on positions that might be sell off slightly Wednesday.
06/19 - Stock Market Comments
The DOW is illustrating that the 50 day moving average is not going to act as resistance. The NASDAQ gapped up and is now trading to the 50 day moving average.
06/18 - Stock Market Comments
The European elections did not affect the US markets. A very simple trend analysis tool is analyzing the Dow and the NASDAQ. If one index is up while the other indexes down, it can be assumed there is no change of investor sentiment.
06/14 - Stock Market Comments
The whipsaw action of the past few days, especially in the DOW, has one strong relevant indicator. The T-line crunch! As long as the indexes do not close below the T-line, the uptrend T-line will eventually push prices up through the markets congested area resistance level.
06/13 - Stock Market Comments
Tuesday's trading move the indexes back up above the T-line. Wednesday's trading has experienced initial sell-off, followed by slow progressive buying again. This obviously demonstrates there is no excess of selling pressure.
06/12 - Stock Market Comments
The early positive trading Tuesday gives more evidence to the possible sideways motion of the market. If it closes positive but not above Monday's open, that keeps the trading in a sideways range.
06/11 - Stock Market Comments
The early morning buying has now run into complacency. The Dow is demonstrating some weakness, not enough to be considered a reversal. However, the DOW has reached a congested area that has the possibility of stalling the uptrend until the stochastics can get some new energy.
06/08 - Stock Market Comments
The early selling is typical for an uptrend, selling in the morning, buying going into the later part of the day. The huge Morning Star signal in the DOW this week, at the 200 moving average area, is a strong bullish reversal signal.
06/07 - Stock Market CommentsWednesday's bullish trading formed a strong Morning Star signal in the DOW. The NASDAQ gapped up through the T-line. Thursday's trading shows bullish confirmation although the positive open in the NASDAQ is now showed selling since the open.
06/06 - Stock Market Comments
After a couple of indecisive trading days in the oversold condition, witness and the premarket futures trading extremely bullish this morning was a clear message that a new trend should be setting up. Numerous individual stocks also displayed indecisive trading in the oversold area.
06/05 - Stock Market CommentsA trend will stay in the same direction until there is a definite reversal signal. Although the markets traded positive this morning, there was no indication said there's been a violence or severe change of investor sentiment.
06/04 - Stock Market CommentsThe hard selling of Friday brought the index is down to or below the 200 day moving average. Currently there is a little indecision at the 200 day moving average for the NASDAQ ,but the Dow and the S&P 500 do not show any indication of trying to support at the 200 day average area.
06/01 - Stock Market CommentsThe trend that has been trying to reach the 200 day moving average got an extra boost to the downside after the employment numbers came out Friday.