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Daily Market Comments - August 2012

08/31 - Stock Market Comments

Prior to Thursday's trading, the markets were in an indecisive sideways mode. Thursday's strong selling indicated which way they would probably be taking the market.

08/30 - Stock Market Comments

Wednesday the Dow and the S&P 500 formed a Doji right on the T-line. This made Thursday's initial transactions very easy. The weakness in the premarket futures clearly illustrated the open was going to be lower.

08/29 - Stock Market Comments

Good news, bad news. Bad news is this market is absolutely flat. Good news is Japanese candlestick signals continue to reveal which positions are still moving in the right direction. There will always be a strong buy signal or sell signal somewhere.

08/28 - Stock Market Comments

The markets are still in a 'wait and see' mode. Monday was a very lackluster day of trading. Tuesday's activity may be more lackluster. Investors need to see results of something to allow them to make decisions.

08/27 - Stock Market Comments

With the Dow trading down on Monday's open while the NASDAQ is trading positive, this is an indication that this market may continue to trade lethargically until there is a pop in the political polls one way or the other.

08/23 - Stock Market Comments

The markets are trading lower obviously. Is this indicating a free fall selling? The Dow and the S&P 500 show decent selling pressure but to the candlestick investor, the NASDAQ is providing a different story.

08/22 - Stock Market Comments

The indexes have continued their slow drift to the downside. The NASDAQ is still holding above the T-line while the Dow and the S&P 500 are trading below the T-line. The NASDAQ is not forming anything decisive in the sell-off.

08/21 - Stock Market Comments

The market showed strength in the pre-market futures and then has moved to those levels. From that point, there does not appear to be any great conviction to move one way or the other.

08/20 - Stock Market Comments

The strong move on Friday indicated the T-line was acting as a support level. The bounce up off the level in the indexes was a good indication the next wave to the upside was in progress.

08/15 - Stock Market Comments

The markets are indicating more the same, a sideways motion remaining above the T-line. This is allowing the strong charts to act well but also letting some short positions start moving down significantly.

08/14 - Stock Market Comments

We are in those hazy, crazy, lazy days of summer, the market does not have any compelling direction. However, it is not selling off. As long as the indexes stay above the T-line, stay long. Although the stochastics have moved into the overbought condition, there are no indications that investor sentiment is turning negative.

08/13 - Stock Market Comments

Although the markets have sagged a little bit Monday, they have not shown any change of investor sentiment. The T-line is still acting as a strong support level. Continue to hold long positions, provided they do not trade or close back below the T-line.

08/08 - Stock Market Comments

The NASDAQ is what is showing confidence in this latest uptrend. It is broken out above the trend channel and showed a few gap ups along the way. Continue to stay long but expect some profit-taking in the next day or so. Currently, the indexes have moved into the overbought condition but appear to have a few more days of upside.

08/03 - Stock Market Comments

The jobs numbers are going to produce a positive pop on the open. This will be occurring just as the Dow had come back down and straddled the T-line. For the Bulls, it will be very important for this market to close near the top end of Friday's trading range.

08/02 - Stock Market Comments

The hard selling of Thursday puts both indexes back into the mid-range of the previous trend channel. This negates the bullish sentiment that was strong enough to break out through the top of the trend channel.

08/01 - Stock Market Comments

The market is still in a wait and see mode. There is not too much enthusiasm: from the Bulls nor the bears. Fortunately, candlestick scans still pinpoint which positions are moving most aggressively based upon specific candlestick signals.


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