Daily Market Comments - March 2017
03/29/17 - Stock Market Comments
With the Dow trading lower and the NASDAQ trading higher, this illustrates the markets are very sector specific. The biotech's, as seen in LABU, continues to act very well. CARA, CLSD, EXAS continue to act very bullish. Stay predominantly long, with a few short positions in the portfolio, as long as the short positions are not showing any bullish sentiment I.E. UFS. Currently the market indexes are not showing any dramatic bullish sentiment or bearish sentiment, allowing each sector to perform.
03/28/17 - Stock Market Comments
The NASDAQ is having problems getting through the T-line after yesterday's bullish engulfing signal. The Dow is trading slightly positive but the big bullish indicator today is the transportation index trading positive, heading back up to test the T-line. Although there isn't any rampant buying today, there isn't anything to indicate any major change of investor sentiment, implying the markets may have found a support at the 50 day moving average yesterday. The prognosis remains the same, this market is sector specific. Biotech's are acting well, hospital stocks appear to be picking up strength, semi conductors are showing strength.03/27/17 - Stock Market Comments
The expected knee-jerk reaction to the cancellation of the health bill has taken the Dow right down to the projected target, the 50 day moving average. Although the market indexes are trading lower today, the NASDAQ, the S&P 500, and the transportation index are trading above where they opened. The Dow is trading towards the higher end of its trading range so far today. This implies the selling is not of a rampant nature. Numerous stocks that were trading in good uptrends last week opened lower today but now are continuing to trade positive. The markets continue to show continued strength in specific sectors. Have both long and short in the portfolio.
03/24/17 - Stock Market Comments
Today's healthcare vote remains the prominent influence of the market movement. With the market not moving with any great decisiveness yet, each individual stock chart remains the predominant evaluation. Biotech stocks continue to act well. Gold stocks are attempting to hold up, oil stocks are still in downtrends. Each sector needs to be evaluated.
03/23/17 - Stock Market Comments
The market direction is definitely a function of whether the healthcare vote is going to be positive, negative, or postponed. Yesterday's Doji in the Dow and S&P 500 occurred on a downtrending support line. Today's positive trading has the inkling of moving back up to test the T-line. However, the reactionary move is still going to be predicated upon the number of likely votes for or against a new healthcare plan. Stay diligent.
03/22/17 - Stock Market Comments
Today's current selling is the expected follow-through after yesterday's bearish left right combo. The political rumblings of Washington is the main excuse. The current downtrend could take the Dow and S&P 500 and NASDAQ down to test the 50 day moving average. This would also be the approximate 50% retracement of the last trend based upon Fibonacci numbers. Expects some more downside, obviously short positions should have stronger relevance.
03/21/17 - Stock Market Comments
After opening positive today, the market indexes have sold off dramatically, creating a bearish left/right combo that needs to be acknowledged. This strong sell signal will be very relevant if the markets close at the low end of their trading range today. But keep in mind, the day is not over. A close backup above the T-line would indicate the trend is continuing the uptrend.
03/20/17 - Stock Market CommentsToday's trading is not showing any change of investor sentiment. The Dow and the NASDAQ continue to form a slow curve/J-hook pattern illustrating the T-line is acting as the support level. Overall, there is no evidence of any selling pressure, which indicates the current uptrend remains in progress. The lack of any dramatic bullish or bearish pressure on the overall market is allowing current strong trending stocks, either bullish or bearish, to continue their trends. The predominant analysis remains staying long or staying short in trends that remain above or below the T-line.
03/17/17 - Stock Market CommentsWhat are the candlestick charts indicating as far as the market trend? Because we can recognize the potential of a J-hook pattern, it can be implied that investor sentiment is still relatively bullish or at least not showing any signs of bearish sentiment. Currently the indecisive trading in today's market, although not showing any buying strength, is still not altering an observable pattern. Having this visual knowledge, witnessing the trading remaining above the T-line, allows investors to maintain and/or add bullish positions based upon strong candlestick charts. As long as the indexes remain above the T-line, the probabilities tell us the uptrend is still in progress.
03/16/17 - Stock Market CommentsWhat is the nature of the market trend? Although today's trading is not showing the resiliency that was seen in yesterday's trading, the market indexes are showing patterns that are easily identifiable. The Dow, S&P 500, and the NASDAQ are all in the process of setting up a bullish J-hook pattern. The lack of aggressive bullish sentiment on any particular day does not offset the information provided in the candlestick pattern. These candlestick signals are clearly defined in our free 12 Major Candlestick Signals. It actually illustrates there is no exuberance in this market uptrend. This creates a much more solid, less whipsawing, market trend. Continue to stay long with some short positions in the portfolio.