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Daily Market Comments - March 2013


03/28 - Stock Market Comments

The markets are still nudging against their recent highs. This is allowing many of the J-hook and fry pan bottom patterns to be performing correctly. Continue to stay predominantly long with a smattering of shorts in the portfolio. Continue to utilize the candlestick patterns to improve high profit probabilities as well as limiting downside exposure.

03/27 - Stock Market Comments

The initial selloff Wednesday is now being modified by some buying coming back into the market. Visually it can be seen that the trajectory of the market is creating a slow rounding bottom over the past few weeks in the Dow. It'll be important today to see that that trajectory is not violated.

03/26 - Stock Market Comments

What is this market doing? Up one day, down the next. Is there any way to analyze which way investor sentiment is moving? Probably not with most investment techniques but the advantage of candlestick analysis is the visual capabilities. With all the oscillation occurring in the market over the past two weeks, there is currently a very simple visual result.

03/25 - Stock Market Comments

They found a solution for saving the massive banking system in Cyprus. Wow, the world is saved. If you will note the potential J-hook pattern that is once again setting up in the Dow. The NASDAQ is pushing right on the upper level of a J-hook breakout. Continue to remain relatively long. Continue to remain short on a few stock positions, such as Facebook.

03/21 - Stock Market Comments

The markets had the potential of showing a good strong uptrend at the open positive Thursday after Wednesday's Morning Star type signal in the Dow. However, Thursday's lower trading doesn't necessarily signify a trend reversal but is indicating an uptrend is still that of be very slow or sideways.

03/20 - Stock Market Comments

The Dow is currently forming a Morning Star type signal right on the T-line. If the market closes near the high end of the trading range Wednesday, the probabilities become extremely strong that we will see more upside going into the end of the week.

03/19 - Stock Market Comments

The markets continue to use the T-line as support. This makes the trend analysis relatively easy. As long as the indexes continue to close above the T-line, anticipate we are still in an uptrend. This market trend still consists of backing and filling, keeping exuberance out of the trend. Stay long with a smattering of short positions in the portfolio.

03/18 - Stock Market Comments

Monday's open appears to be a knee-jerk reaction to the problems that are coming out of Europe. The knee-jerk reaction is more evident when analyzing the candlestick formations in the indexes as well as many individual stocks. Although the market is lower, it is well above the lows of the day.

03/14 - Stock Market Comments

It appears as if the last two days of sideways movement in the markets was merely allowing the T-line to catch up. More evident in the NASDAQ chart. Thursday's positive trading continues to reveal bullish sentiment that has not changed. Continue to stay predominantly long until a severe sell signal becomes evident.

03/12 - Stock Market Comments

The markets do not appear to be in any hurry to go anywhere Tuesday. This does not indicate there is a change of investor sentiment, merely some resting in the uptrend. The characteristic of the market so far is that it sells off in the morning and then the buying comes in in the afternoon. Continue to hold long positions.

03/11 - Stock Market Comments

The initial selling Monday does not appear to be very convincing. The market conditions still indicate the lack of any severe selling pressure. Continue to stay long and continue to be nimble. Stay with the strong charts

03/08 - Stock Market Comments

After a very strong open, the Dow pulled back to where it almost went negative. The NASDAQ did go negative. But now the market is starting to trade back up again. This is a good sign in the sense that profit-taking occurs during the day, diminishing any exuberant movement in the uptrend. This slow steady uptrend will act more persistently with profit-taking occurring along the way. Stay long, stay nimble.

03/07 - Stock Market Comments

The Dow is showing more strength than the S&P 500 or the NASDAQ. However, all the indexes continue to show a slow persistent uptrend. This is a perfect environment for allowing candlestick signals to reveal the strong and the weak stocks. There are numerous candlestick patterns, J-hooks, fry pan bottoms, and cradle patterns that are providing big profit opportunities.

03/06 - Stock Market Comments

The expected consolidation after yesterday strong trading is still stay in respectively bullish. The Dow was trading higher while the NASDAQ and the S&P 500 have pulled back slightly, not enough to even indicate any great urgency to take profits. Obviously, the uptrend is in progress. Be nimble but with the expectation of the uptrend continuing.

03/05 - Stock Market Comments

The strength in Tuesday's market trading is more demonstrative in the NASDAQ, a gap up towards the recent high. The Dow and the S&P continue to show extremely good strength. However, Tuesday's trading strength is exceeding what the normal uptrend results have been for the past few days. Remain diligent, the indexes need to remain strong going into the closed Tuesday.

03/04 - Stock Market Comments

Although the Dow is down approximate 50 points and the NASDAQ is lower, the magnitude of the selling in Monday's trading can be better evaluated with the candlestick chart. Note how the NASDAQ is showing a slightly positive candle from where it opened. This indicates the Bulls are still participating in the market. Monday's selling can be better evaluated as early morning profit-taking from last week's trading versus any great change of investor sentiment.

03/01 - Stock Market Comments

The lack of Washington DC's resolve to improve things does not seem to be affecting the market this morning. After an initial hard selling, the indexes are climbing back up, revealing that there is no severe selling pressure. Continue to hold long positions but also have short positions in the portfolio. There are plenty of chart patterns that make for holding longs and shorts. Remain nimble, the sideways mode of this market is being accentuated by investor sentiment fluctuating every few days.


 

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