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Daily Market Comments - September 2012

09/28 - Stock Market Comments

Observing the fact that the indexes could not close above the T-line Thursday was a highly relevant factor. The probabilities of an uptrend versus a downtrend is dramatically different depending upon where prices/trends close relative to the T-line.

09/26 - Stock Market Comments

Tuesday's selling breached the T-line in all three indexes, the Dow, the NASDAQ, the S&P 500. Do not let Wednesday's initial buying in the Dow altar the prognosis. The market is now in a downtrend, the time and magnitude is the next analysis.

09/25 - Stock Market Comments

Monday's trading brought the indexs right to the T-line and they formed a Doji. This may Tuesday's trend analysis very simple. The trend was going to move in the direction how they opened Tuesday.

09/24 - Stock Market Comments

Monday the market has sold off immediately, the Dow has touched the T-line but is bouncing up from there. The visual graphics of candlestick reveal more clearly that although the NASDAQ is down, it is trading positive from where it opened, indicating the Bulls are not bailing out of this market.

09/21 - Stock Market Comments

Thursday both the Dow and the NASDAQ pullback and just touched the T-line and bounced up from there. This should have conveyed a message. The T-line was going to act as support.

09/19 - Stock Market Comments

The sideways motion of this market is still in progress. Take advantage of the charts that are working well. Do not get discouraged with bullish charts that have not close below the T-line.

09/18 - Stock Market Comments

Once again the markets have indicated they want to move sideways at best. Tuesday's trading reveals no conviction one way or the other. Continue to use this market conditions to take advantage of the strong bullish and bearish charts.

09/17 - Stock Market Comments

The markets are exhibiting some profit-taking this morning, which is not unusual after a strong week last week. However, the markets will have to decide whether additional stimulus is going to be good or bad for the economy 6 to 9 months out. That is where candlestick charts will be a very valuable indicator.

09/14 - Stock Market Comments

The Dow has been trading in a trend channel for the last four months. It appears as if now the trading has breached the top of that trend channel. Continue to stay long. Numerous frypan bottom and J-hook patterns are working extremely well.

09/12 - Stock Market Comments

The markets are not showing any great conviction one way or the other. However, it is obvious there is a slow steady uptrend, a 45, off the last big bullish candle.

09/10 - Stock Market Comments

With the lack of profit-taking on Friday, witnessing some profit-taking Monday was not unusual. However, without seeing a lot of profit-taking after the big move on Thursday, the high probability result should be a 45° uptrend.

09/07 - Stock Market Comments

Friday's consolidation in the markets would not be unexpected. However, if the markets remained relatively flat, versus pulling back with profit-taking, that is a good bullish indication for more strength going into next week. Obviously, there is a bullish bias to this market.

09/06 - Stock Market Comments

The NASDAQ and the S&P 500 are showing the more compelling bullish reversals. Both are now trading well above trend channels that had formed over the past few weeks. The trading program remains elegantly simple. Maintain long positions that are acting well. Cover short positions that were showing signs of bottoming action.

09/05 - Stock Market Comments

The markets continue to indicate a lack of selling pressure. Fortunately, as the market continues in a slow sideways trend, it continues to allow good charts to continue working both on the bullish side and the bearish side.

09/04 - Stock Market Comments

Friday's trading provided some optimism that the current selloff made just be a minor selloff. However, there is one significant qualifying indicator that has to be considered when analyzing market trends, the T-line. This indicated becomes a very important factor when making decisions to open or close positions.


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