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Daily Market Comments - March 2016


03/31 - Stock Market Comments

Today's indecisive trading so far does not show any indications that there has been a change of investor sentiment in the markets. Crude oil is showing some bottoming action and gold prices are stabilizing, indicating the lack of concerns. Continue to stay predominately long with the assumption the uptrend in the markets will remain an uptrend until the appearance of a reversal signal and a close below the T-line.

03/30 - Stock Market Comments

Today's strength in the markets is confirming the J-hook pattern that had formed in the Dow yesterday, using a left/right combo off the T-line. The implied trend for the Dow was to move back up to the top of the trend channel. The most compelling market strength indicator was the NASDAQ gapping up through the 200 day moving average today. The T-line is still acting as a strong trend support with the uptrend in trading channel acting as the major trend indicator. Stay predominately long, numerous short positions would have been stopped out on today's positive trading on the open.

03/24 - Stock Market Comments

The Dow is currently trading right on the T-line but the NASDAQ and the S&P 500 is trading below the T-line. The magnitude of the selling is not rampant but the charts have illustrated over the past few days that consolidation/profit-taking was in place. The T-line acts as a very good indicator to close out positions when an uptrend in stock close below the T-line. It can always be bought back when it trades back up above the T-line. Look for continued profit-taking, especially going into a three-day weekend.

03/23 - Stock Market Comments

The events in Europe has not deterred the slow uptrend in the US stock market. The profit-taking appears to be occurring in the early part of the day followed by slow buying. Continue to stay predominately long with the expectation of some profit-taking very soon. Crude oil prices are maintaining their uptrend and gold prices picked up strength due to the Belgium situation.

03/22 - Stock Market Comments

The events in Europe has not deterred the slow uptrend in the US stock market. The profit-taking appears to be occurring in the early part of the day followed by slow buying. Continue to stay predominately long with the expectation of some profit-taking very soon. Crude oil prices are maintaining their uptrend and gold prices picked up strength due to the Belgium situation.

03/21 - Stock Market Comments

The market indexes have not yet shown any change of investor sentiment. Early morning selling, followed by afternoon buying has been the nature of this current uptrend. A trend remains more solid when profit-taking is occurring along the way, eliminating the exuberant buying followed by rapid selling. Continue to stay predominately long. Crude oil prices remain in a slow steady uptrend, the May contract trading close to the $41 a barrel level. Gold prices are in a sideways trading mode but still near the high-end of the recent trading.

03/15 - Stock Market Comments

Today's selling remains in the characteristic of this uptrend, some selling in the morning with expected buying later in the day. This can be better confirmed by using the 10 min. chart on the Dow and the NASDAQ. The T-line becomes the important criteria on the 10 min. chart. Continue to stay predominately long until there is a definite reversal signal in the markets. However, the J-hook pattern produces the probabilities that the uptrend remains in progress, especially if the indexes do not close back below the T-line.

03/14 - Stock Market Comments

After the big move on Friday, bringing the Dow and the S&P up through the 200 day moving average, today's consolidation is not unexpected. The Dow appears to be using the 200 day moving average as support while the S&P 500 is trying to come back up through that level. Pay attention to the numerous J hook patterns in progress. Stay predominately long until there is a true reversal signal.

03/09 - Stock Market Comments

The markets remain in a consolidation stage. The T-line continues to be a relevant factor as far as support. Until there is an actual close below the T-line, consider the uptrend still in progress, albeit relatively sideways. Have both long and short positions in the portfolio.

03/08 - Stock Market Comments

Is this the market reversal? Note that there has been no reversal signals in the indexes, merely a selling day/profit-taking during an uptrend. As demonstrated in the past four days of the  uptrend, the selling has occurred in the early morning trading, followed by buying going into the latter part of the day. Numerous uptrend in stocks are selling off this morning but without candlestick reversal signals. Numerous stocks have already pulled back and tested the T-line. The prudent strategy is to do nothing until the markets indicate what will be happening at the end of the day. Be patient.

03/07 - Stock Market Comments

Is this the market reversal? Note that there has been no reversal signals in the indexes, merely a selling day/profit-taking during an uptrend. As demonstrated in the past four days of the  uptrend, the selling has occurred in the early morning trading, followed by buying going into the latter part of the day. Numerous uptrend in stocks are selling off this morning but without candlestick reversal signals. Numerous stocks have already pulled back and tested the T-line. The prudent strategy is to do nothing until the markets indicate what will be happening at the end of the day. Be patient.

03/03 - Stock Market Comments

Although there isn't any great movement in the market today, it is demonstrating that he is not selling off, keeping the uptrend intact. This is allowing the strong stocks to stay strong. Crude oil prices and gold prices have moved up strong, adding strength to those sectors.

03/02 - Stock Market Comments

Today's consolidation is not unexpected after the big move yesterday. The uptrend remains in progress as long as there is not a sell signal and a close back below the T-line. The 200 day moving average  remains the likely target for the Dow and the S&P 500. There are a few gaps to be filled in the NASDAQ up toward the 200 day moving average. Stay predominately long.

03/01 - Stock Market Comments

The indexes continue to use the T-line as a support. The Dow and the S&P 500  have used both the T-line and the 50 day moving average as a support. Obviously the uptrend remains in progress but would not want to see the indexes come back down through today's open. Stay predominately long, many good J-hook patterns in progress.


 

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