Daily Market Comments - November 2014
11/26 - Stock Market CommentsThe NASDAQ is trading positive, the Dow is trading slightly negative, the S&P 500 is trading flat. Demonstrating there is no change of investor sentiment in this current uptrend. Do not expect anything of any great magnitude in today's trading, probably most of the major traders will be taken off for the holiday by early afternoon. Friday will be a half day.
11/25 - Stock Market CommentsAlthough the markets remain decisively indecisive Tuesday, there has not been any change of investor sentiment. The major indexes are showing very little movement but the transportation index is still relatively positive. As long as this market trades above the T-line, the analysis remains that this market is continuing its uptrend. Continue to maintain long positions and short positions that are confirming their chart patterns.
11/21 - Stock Market Comments
After two weeks of indecisive trading in the markets, it was looking for a direction. The past couple days of trading indicated a slow curve set up to the upside. One consistent factor that remained in the uptrend was the fact that the indexes could not close below the T-line. Friday's bullish action in the markets indicate the direction this market should move after two weeks of Doji type trading days.
11/20 - Stock Market CommentsThursday's buying continues to illustrate the lack of a decisive move in the markets. The slow uptrend still has the support of the T-line. The prognosis remains the same, continue to stay long as long as there is not a close below the T-line in the indexes but remain nimble.
11/19 - Stock Market Comments
Tuesday's bullish trading The indexes above the T-line and gave the indication a new wave could be starting. However, Tuesday's weakness in the markets puts the indexes back into the sideways mode, indecisive trend. The T-line remains a very important factor. Unless the market shows strength by the end of the day, confirming Tuesday's slow curve breakout potential, trade positions should still be watched with a defensive nature.
11/18 - Stock Market CommentsAfter a week or two of indecisive trading in the markets, the Doji's that had formed were going to give a good indication of which direction they plan on moving the markets. If today's trading finishes strong, slow curves are forming in both the Dow, NASDAQ, and the S&P 500.
11/17 - Stock Market Comments
The markets continue to consolidate. The S&P 500 has produced five Doji's in a row. It is still trading above the T-line but a series of Doji's allows for accurate analysis. Watch for a strong price move from these levels, whether bullish or bearish, which will demonstrate which direction the market will go with relatively strong movement. Long positions should still be maintained but with very close stop loss positioning.
11/14 - Stock Market CommentsThe markets continue in its indecisive nature. The more Doji's that appear at the top of this market uptrend, the higher the probability of a change of investor sentiment. Stay long but be ready to take long positions off the table if there is any signs of major selling pressure.
11/13 - Stock Market CommentsThe markets continue its indecisive trading on a daily basis but there is no evidence of any change of investor sentiment. The uptrend remains in progress however the indecisive trading days still require diligence as far as watching for something that might start a selloff. Continue to stay predominantly long but be very quick to take profits if selling starts coming into these markets.
11/12 - Stock Market Comments
As expected after Tuesday's Doji in the Dow, some profit-taking has occurred. It can be analyzed more as profit-taking versus any trend reversal just yet based upon the fact that the NASDAQ opened lower and is trading above where it opened. This illustrates the Bulls are still participating even though the NASDAQ index is still down slightly. The graphics of candlesticks provides much more accurate evaluations of what is occurring.
11/11 - Stock Market CommentsThe markets are continuing their slow up trending progress, indicated by the NASDAQ setting up a J-hook type pattern while the Dow and the S&P 500 continue to move up slowly but demonstrating the lack of selling pressure with the consistent trading above the 3T-line. Continue to stay long, but have your stop loss positions in place.
11/10 - Stock Market CommentsThe indecisive trading today does not indicate any change of investor sentiment. Although the Dow and the S&P 500 looks like they're running out of steam, the NASDAQ continues to trade sideways as if in a consolidation stage. At this area of the trend, individual stocks/sectors are moving on their own basis. Stay long in positions that are not showing sell signals and moving back below the T-line.
11/06 - Stock Market Comments
The Dow is trading near all-time highs, Thursday's indecisive trading is less indicative of a potential reversal due to the fact the transportation index is still moving up with reasonable strength. Unless there is a dramatic change of investor sentiment, a strong bearish reversal signal, the uptrend remains in progress. This is wave five out of a spreading pattern in the Dow, indicating strong upside potential.
11/05 - Stock Market Comments
The markets are showing great reaction to the elections but the expectations of the elections may have already been built into this market. Currently, the sideways mode/consolidation stage of this market appears to be waiting for the T-line to catch up. The prognosis remains the same, stay long in the strong charts and patterns. Stay short in strong bearish charts. Currently there is no change of investor sentiment, the current uptrend remains in progress.
11/04 - Stock Market Comments
Profit-taking or a reversal? This question can be much easier answered when using candlestick analysis. The Dow and the NASDAQ are selling off, as expected with the potential reversal signals of Monday. However, the transportation index continues to trade higher. This would be a good indication that there has not been a change of investor sentiment, merely profit-taking. Stay long but there are still good short positions in the oil sector.
11/03 - Stock Market Comments
Investor sentiment has not changed as evidenced by the fact that the Dow is trading lower and the NASDAQ is trading higher, merely indicating shifting of positions but not a change in the overall market trend. Continue to stay prominently long but crude oil is still trading weaker, making a few sectors viable short candidates.