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Daily Market Comments - November 2016

11/29 - Stock Market Comments

Although the indexes are not trading with any great positive resiliency, they are illustrating that bullish sentiment has not disappeared. The uptrend remains in progress as long as the indexes continue to trade above the T-line. Continue to stay predominantly long, the candlestick patterns are working very well.

11/28 - Stock Market Comments

Today's selling has shown trading at the same level since the open, not demonstrating any dramatic selling pressure. This consolidation has not yet changed the trajectory or investor sentiment of this uptrend. Continue to stay long with the expectation of some profit-taking as the uptrend continues. This makes for a more solid uptrend with the lack of exuberance being demonstrated.

11/21 - Stock Market Comments

Today's trading is very positive for the market trend provided the bullish sentiment remains going into the close. The S&P 500 most clearly illustrates a trend kicker at a breakout level. The same scenario can be applied to the Dow and NASDAQ. If the NASDAQ closes near the high end of its trading range today, it will demonstrate the lack of resistance at the recent highs back in September. Continue to stay long. More exact, stay long in the strong sectors, they are showing strength basically due to investor sentiment become an extremely bullish in specific areas of the economy.

11/16 - Stock Market Comments

The Dow is trading lower but the NASDAQ is trading higher. This is still an indication there has not been a change of investor sentiment, the uptrend remains in progress. The biotech sector continues to act well. Crude oil inventories have expanded dramatically, however crude oil is trading higher. Continue to stay with the sectors that are showing good strength/good buy signals.

11/15 - Stock Market Comments

The expected consolidation/shifting of funds is evident with the Dow trading lower today but the NASDAQ trading higher. This indicates there is no real dramatic change of investor sentiment, merely shifting from sector to sector. Profit-taking was expected after a strong rally as seen over the past week. Be prepared to take profits, albeit very short-term, on price moves that have moved exorbitantly over the past week. The uptrend is not showing that it is over, but be prepared for backing and filling.
 

11/14 - Stock Market Comments

Be careful, after a few strong days of trumpet rally, the Dow gapped up today and is currently doing a shooting star/Doji. Stochastics are in the overbought condition, trading has moved substantially away from the T-line, be ready for some profit-taking in the markets. The NASDAQ has not been showing as much strength over the past few days of trading. Be prepared to take profits.


11/10 - Stock Market Comments

The markets are now providing the after election assessment. The Dow is up strong, the S&P 500 is flat, the NASDAQ is down strong. The market is now showing that the sectors are becoming the decisive factors. The biotech's are strong, oil stocks are holding up well, high tech stocks are getting slammed. The big stocks, AAPL, AMZN, NFLX do not appear to be the place to be. Utilize the candlestick charts to indicate which stocks/sectors you want to be long or short. As can be seen in today's trading, there is not any doubt as to which sectors should be bought and should be sold.


11/07 - Stock Market Comments

Profitable trading involves analyzing signals and trends that put the probabilities in your favor. Knee-jerk reaction days like today make it prudent to sit back and wait to see what the final results will be. That rationale applies to not knowing what's going to happen tomorrow. It makes more sense to wait and see what investor sentiment does based upon results versus trying to speculate what will happen. Keep your powder dry.

11/04 - Stock Market Comments

The Dow is up, the NASDAQ is down. A good indication there is no change of investor sentiment, the slow drift/downtrend remains in progress. This sentiment will remain probably until the results of the election are in. Stay short and the biotech's, gold stocks are showing good strength but not excessive strength. These market conditions warrant be in very selective for maintaining any positions in the portfolio, long or short.

11/03 - Stock Market Comments

Sideways! Nothing has changed, after yesterday's selling in the markets today's trading is absolutely flat. Fortunately, candlestick scans revealed and has produced good profits now in the gold sector. The analysis remains the same. Even though the markets are moving sideways, specific sectors can produce profits, going long in gold stocks, remaining short and biotech's.

11/01 - Stock Market Comments

Nothing has changed investor sentiment, there still is no excessive buying or selling pressure on the markets, the sideways channel remains the predominant analytical tool. Gold stocks now appear to be picking up some strength. The biotech's have had a downtrend that are showing a little bit of bottoming action over the past couple of trading days, stay alert.

 

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