Daily Market Comments - June 2015
06/30 - Stock Market Comments
Be careful, today's bullish trading may just be the offset of panic selling yesterday afternoon. If the characteristic of this market remains the same, today's trading should close near the high end of its trading range, continuing the indecisive nature of the markets. Keep in mind, any recommendations/positioning in this market condition requires entry confirmation. The market is telling us something! Obviously, there is no trend. Adjust your trading strategy accordingly. Either very quick trades or go fishing for a few days.
06/29 - Stock Market Comments
Greece! Watch for the knee-jerk reaction in today's trading. It is estimated that the economy of Greece is approximately the same as Rhode Island or Connecticut. As an economic factor, it does not mean anything. Unfortunately, as a political factor, it may allow Russia or China to get a foothold in the European sector. Watch the intraday charts. Although the indexes are trading lower, the NASDAQ is the most obvious, showing that the buying started as soon as it opened. What the indexes reveal at the end of the day will be most important.
06/26 - Stock Market Comments
Although the Dow is trading higher today, there is no bullish confirmation in the other indexes. The S&P 500 is trading relatively flat after failing at the T-line earlier and the NASDAQ is trading lower, below the T line. This basically illustrates the lack of consensus in today's trading, as well as continuing to illustrate the lack of any direction in the markets overall. Investors should modify their strategies to trading for very quick profits or just go fishing for a while.
06/25 - Stock Market Comments
Today's indecisive trading has already seen the Dow test and fail at the 50 day moving average. Nothing has yet changed about the nature of the current trend. The indecisiveness continues as it has for the past three months. The trading program remains the same, each individual stock chart should be analyzed based upon the overall market not helping or deterring the price.
06/24 - Stock Market Comments
Today's selling/indecisive trading continues to reveal the lack of change of investor sentiment but still indicates that any bullish uptrend is going to be comprised of slow/waffling trading. Continue to utilize each individual stock chart as your primary analysis. The portfolio should be predominantly long.
06/23 - Stock Market Comments
The market uptrend continues to confirm the double bottom/support area in the Dow and the S&P 500. The NASDAQ continues its slow steady uptrend in new high territory. Currently there is no indication of any change of investor sentiment, making the top of the trend channel the likely target for the Dow and the S&P 500.
06/22 - Stock Market Comments
Today's positive trading continues to confirm the Doji sandwich that formed in the Dow and S&P 500 last week. The NASDAQ is in the process of forming a trend kicker signal, implying the move into new high territory should continue. The past few trading days have made short positions less viable and a portfolio should be oriented to the long side.
06/19 - Stock Market Comments
It will not be unusual to see the markets consolidate today, a Friday in the summer time, after a big move in the markets yesterday. These are days where you watch to see whether there is actual reversal signals or just merely consolidation. The important analytical factor should be what is theoverall trend doing, with confirming indicators, versus what is occurring on a day-to-day basis.
06/18 - Stock Market Comments
Today's trading is forming Doji sandwiches in the major indexes. The NASDAQ is the most compelling chart with a Doji sandwich breakout up through the descending resistance level. This should imply more upside, which would break the NASDAQ out into new territory. If so, that would obviously create a more bullish portfolio stance.
06/17 - Stock Market Comments
The market indexes continue to show support/bullish signals at the bottom of their trading channels. The NASDAQ is illustrating the most strength after forming a hammer type signal at the 50 day moving average again and now gapping up through the T-line today.
06/16 - Stock Market Comments
Same old same old, the conditions of the market trend remain the same. No decisive trend, no decisive trading from one day to the next. Continue to use each individual stock chart as your primary analysis. There are numerous good candlestick bullish patterns producing good profits, such as CYBR performing a frypan bottom breakout.
06/15 - Stock Market Comments
Investor sentiment remains the same. The indecisive sideways nature of the market still persists. Continue to use the charts for each individual stock trade as the primary factor. Although the market indexes are trading lower today, they are forming a hammer type signals, trading back up toward the top of the trading ranges. There has not yet been any signals to show any great trend strength either bullish or bearish.
06/11 - Stock Market Comments
After yesterday's big reversal day in the markets, it would not be unusual to see some profit-taking/consolidation today. Currently the indexes continue to show strength. As long as the indexes remain above the T-line, it can be assumed the slow uptrend will remain in the trend channel.
06/09 - Stock Market Comments
The Dow is forming a Doji so far today right at levels it has supported over the past two months. The NASDAQ is trying to form a hammer signal right on the 50 day moving average. These are potential support areas. It will be important to see if any candlestick signals are formed at the end of the day. Continue to use each individual stock chart as the main criteria.
06/08 - Stock Market Comments
All the indexes are revealing weakness, basically all of them selling off and trading below the T-line. However, specific stocks/sectors continue to trade positive as evidenced with numerous charts continuing to show bullish strength. Stay long in the strong charts obviously and have short positions in the portfolio.
06/03 - Stock Market Comments
The market continues its indecisive trending bought it is becoming evident the 50 day moving average may be acting as support for the Dow. The NASDAQ continues its slow uptrend continuing to close and trade above the T-line. The T-line remains a very critical factor for remaining in long or short positions.
06/02 - Stock Market Comments
The indecisive trading nature continues in the indexes. The S&P 500 is currently forming a hammer signal after bouncing off the 50 day moving average. Currently the Dow is forming a hammer signal with trading right on the 50 day moving average, the NASDAQ after opening lower is trading above where it opened and just above the T-line. This all added together still indicates a very indecisive/sideways moving market.
06/01 - Stock Market Comments
The current bearish sentiment persists with not only the markets currently trading down but both the Dow and the S&P traded positive today, right up to the T-line, and then started selling off again. As long as the indexes continued to trade below the T-line, the down trend remains in progress. However, there is not a across-the-board selling consensus in this market, indicating the indecisive/sideways mode of the market remains in progress.