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Daily Market Comments - October 2016

10/28 - Stock Market Comments

The market trend remains wildly unexciting. The nature of this boring market still makes each individual stock chart the primary analytical factor. The biotech's are still in a downtrend. Crude oil appears to have stabilized in the $50 area, not moving too much one way or the other from that level. Remaining in any positions should have compelling charts. Having a higher percentage in cash is not a bad strategy at this point.


10/27 - Stock Market Comments

There is really no consensus between the Bulls and the Bears on a day-to-day basis. This is much more clearly illustrated from the graphics of candlestick charts, bullish candle one day, bearish candle the next day. There are very few bullish positions that are remaining in a consistent uptrend.


10/25 - Stock Market Comments

The nature of the market has not changed, the indexes have a hard time moving consistently in one direction or another from day to day. Today's indecisive trading continues to demonstrate the sideways mode of this market. Numerous stock charts also reveal noncommittal trends, merely moving sideways. Although the opportunities are fewer, candlestick charts still show which stocks remain the most bullish and which remain the most bearish.


10/24 - Stock Market Comments

Today's positive trading, although relatively strong in the Dow and S&P 500, are not yet showing any strong decisive candles/signals. However, the NASDAQ gapped up today confirming the buy signals that were developing at the T-line/50 day moving average last week. Today's gap up is providing the prospects of a scoop pattern. This gives a little bit more credibility to the positive trading in the other indexes. But note that the indexes are still trading in the sideways channel. The indecisive nature of the market continues to make trading difficult but there are patterns that are producing good profits.


10/20 - Stock Market Comments

What could have been the beginning of some bullish investor sentiment, after yesterday's gap up above the T-line forming a bullish flutter kicker signal, today's trading brings the market trading back to its previous nature.


10/18 - Stock Market Comments

Watch for the Netflix knee-jerk reaction in the markets. Note how many stocks have opened positive but immediately started trading lower. Also keep in mind that the nature of this market has been very indecisive. This should lead to some suspicion that there still is not any great bullish/bearish conviction in the markets. It will be important to see how the indexes close today, especially in reference to the T-line.


10/10 - Stock Market Comments

Today's bullish trading is breaking the Dow up through the top of a wedge formation. The NASDAQ has formed a kicker signal today, confirming a slow curve type pattern that has been maintaining above the T-line. This illustrates a good bullish trend, PROVIDED   today's bullish strength maintains going into the close.


10/07 - Stock Market Comments

Do you know how to interpret the jobs report? You don't have to! The market is telling you what it thought of the jobs report. Today's lower trading still indicates a sideways movie market with no conviction one way or the other. Each long position or short position should have compelling charts. Fortunately, simple candlestick scanning techniques continue to find compelling charts.

10/06 - Stock Market Comments

The markets remain consistently indecisive, up one day down the next, continuing the sideways movement that has been seen in the market ever since early July. These market conditions make utilizing the candlestick signals and the T-line very important for identifying whether a trend is continuing or has reversed. Do not let anyone particular trading day influence being in or out of a position, utilize the T-line to see whether a trend is changed.


10/05 - Stock Market Comments

The schizophrenic nature of the market persists. This is what makes utilizing the candlestick patterns very effective, they are not as influenced by the overall market direction. Remain in the charts that are not showing selling confirmation, sell signals and a breach of the T-line. Also have a few short positions in the portfolio.

10/04 - Stock Market Comments

The indecisiveness in the markets persist. Fortunately, this does not change the direction of many of the candlestick chart patterns that are working effectively. Continue to utilize each individual stock chart as the main criteria.

 

 

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