Daily Market Comments - October 2017
10/30/17 - Stock Market Comments
The market indexes still do not show any change of investor sentiment. Although the Dow and S&P 500 are trading lower Today, they are trading indecisively, Doji days so far. The NASDAQ is trading positive, further confirming the best friend signal of last week.
10/27/17 - Stock Market CommentsThe NASDAQ up hundred points but the Dow is down slightly, the S&P 500 is up, the transportation index is flat. What should be the overall prognosis of the market trend? There is not any major change of investor sentiment. Merely a shifting of funds from sector to sector. Stay predominantly long but obviously the volatility that is occurring requires being very diligent as far as watching for sell signals in individual stock positions. This is why Trend Analysis is so important.
10/26/17 - Stock Market Comments
The strength in the Dow today is pulling the transportation index backup. The prospects of a tax cut continues to add strength, or at least is not allowing investor sentiment to turn bearish, to the overall market trend. The NASDAQ and S&P 500, although not trading with the same strength as the Dow, are currently illustrating small gains.
10/25/17 - Stock Market CommentsYesterday, although the Dow traded up stronger, the other indexes did not show any great strength. This was a potential red flag that the Bulls were running out of steam. The NASDAQ and the S&P 500 are currently trading below the T-line. The transportation index is selling off with the greatest movement, trading well below the T-line.
10/24/17 - Stock Market Comments
The Dow is showing excessive strength, a trend Kicker signal Today. But the NASDAQ and S&P 500, although trading positive are not showing any great strength from where they opened. Yesterday's big bearish engulfing signal in the NASDAQ was the first major sign of sellers coming into the market.
10/23/17 - Stock Market Comments
Today's lack of strength in the market indexes have not done anything to alter the candlestick bullish patterns that have developed over the past few trading days. All the indexes continue to trade above the T-line but the NASDAQ is not showing any great strength, currently forming a bearish engulfing signal and trading right on the T-line. Although the markets are still in an uptrend, there are signs of weakness.
10/20/17 - Stock Market Comments
The budget vote has continued the Bullish sentiment in this market. The transportation index is showing a very compelling J-hook pattern above the T-line. The market trend analysis remains very simple, as long as the indexes continue to trade above the T-line, the uptrend is still in progress. The warning is still coming from the Dow, gapping up again in the overbought condition. Be defensive, the first signs of a sell signal should induce profit-taking.
10/19/17 - Stock Market Comments
Yesterday's gap up in the Dow required continued bullish trading Today. Today's lower open makes Yesterday's Gap up an indication of exhaustion at the top. The gap down in the NASDAQ and the S&P 500, after Yesterday's indecisive trading in those indexes, indicates a strong change of investor sentiment.
10/18/17 - Stock Market CommentsWhat is the danger signal today? Note that the Dow has gapped up in the overbought condition. What does this illustrate? Exuberance in the overbought condition. The NASDAQ and the S&P 500 are not demonstrating the same bullish consensus. Watch the Dow. If it starts selling off from these levels, be prepared to start taking profits. The Dow has to maintain its strength Today to not demonstrate a reversal in the overall market trends.
10/17/17 - Stock Market CommentsWhat do candlestick charts actually reveal? NFLX beat earnings, things look great, logic says the stock should open and trade higher. But what did it do? Opened lower and traded lower. Candlestick charts show what investors are actually doing, which sometimes is completely different than what WE think a price should be doing
.10/16/17 - Stock Market CommentsAlthough the indexes are trading higher this morning, they are trading at the same levels as where they opened, creating Doji's. The Dow has formed Doji's each day for the past few days. The S&P 500 and NASDAQ have traded higher over the past few trading days but closing below where they opened. This indicates the Bullish strength of this uptrend is starting to diminish. Stay long but be careful. Having a few short positions in the portfolio is still prudent.
10/13/17 - Stock Market Comments
Investor sentiment has not changed. The slow uptrend in the overall markets continue to make the analysis of individual stock charts more relevant. Continue to stay in the Bullish charts that remain above the T-line. Remain in bearish positions, such as CMCSA, as long as they stay below the T-line and are not showing any bullish reversal signals. These market conditions will have both long and short positions that are profitable.
10/12/17 - Stock Market CommentsThe markets continue in a indecisive/consolidation mode. No formations have occurred that would indicate a change of investor sentiment but the trajectory and force of the current uptrend is starting to show indecisiveness. Nothing has shown a confirmed sell signal but it is prudent to be a little bit more defensive, ready to take some profits on signs of market weakness. Stay predominantly long but be prepared.
10/11/17 - Stock Market Comments
Although the markets are not moving with any great robustness, they still illustrate the lack of any change of investor sentiment, the slow uptrend persists. The transportation index is providing a good J-hook Pattern, indicating there is no overall selling indications in the markets.
10/10/17 - Stock Market Comments
The indications of some profit-taking/consolidation in Yesterday's trading remains evident in Today's trading. Although the indexes are trading higher, the candlestick formations reveal the lack of any strong bullish sentiment. Be defensive, be prepared to start taking some profits if the market indexes do not show any great bullish movement today. Currently all the indexes are trading below where they opened, revealing the lack of strength.
10/09/17 - Stock Market CommentsToday is a bank holiday. This might make the markets a little less active. However, currently there are no sides of any major change of investor sentiment. Many steady Eddie price moves are continuing in a consistent uptrending manner. These market conditions warrant using the candlestick chart analysis indicators to maintain uptrending stocks but with the prospects of taking profits on size of weakness/sell signals in specific sectors. Shift funds to the strong sectors, such as gold.
10/06/17 - Stock Market CommentsA Friday, after a good strong week in the markets, is likely to see some consolidation going into the weekend. With the market trading slightly lower, there is still no indication of any change of investor sentiment. Analyze each individual stock chart to assess whether there are any candlestick potential reversal signals. This allows for free and up some funds to get ready for the next sector movements. This is why we recommend Trend Analysis.
10/05/17 - Stock Market Comments
All boats rise in a rising tide, and currently the rising tide is still in progress. Fortunately, identifying the strong candlestick signals and patterns allows investors to make inordinate profits based upon the results of high profit patterns. The J-hook Pattern is working extremely well.
10/04/17 - Stock Market CommentsToday's relatively flat trading in the market indexes indicates there is no major change of investor sentiment. The uptrend remains in progress with healthy backing and filling along the way. Continue to stay predominantly long. The T-line remains a very effective trend indicator. The NASDAQ may be showing some consolidation your the top of a trend channel but the Dow is still in a good J-hook Pattern wave three.
10/03/17 - Stock Market CommentsThe strength of this uptrend is revealed by the backing and filling/profit-taking that occurs during the uptrend. The J-hook Pattern in the Dow illustrates profit-taking last week followed by new buying this week. The NASDAQ demonstrated two weeks of consolidation before the strong best friend signal showed new buying.
10/02/17 - Stock Market Comments
The market indexes continue to push higher even with Today's devastating news out of Las Vegas. The indexes are trading at all-time highs. The steady uptrend continues to make the Frypan Bottom and J-hook Patterns very profitable. Continue to stay predominantly long.