DAILY STOCK MARKET REPORTS - July 2005
07/29 - Stock Market Comment - July 29, 2005
The uptrend is still intact. The Dow appears to be coming up out of a congestion area. The NASDAQ appears to have formed a J Hook pattern and is in the process of moving into the next bullish leg.
Continue to hold the long positions.
Crude Oil prices, although moving slightly positive, could be forming a Head and Shoulders pattern. Weakness in Crude Oil prices over the next few days could be the prelude to a big drop in price.
07/28 - Stock Market Comment - July 28, 2005
The scenario remains the same, there does not seem to be any massive selling in this market. Earnings reportscontinue to remain strong. The NASDAQ appears to be forming a J Hook pattern. The Dow has held up well in the latest congestion area. Continue to hold the long positions.
The uptrend will remain intact until a severe Candlestick sell signal is witnessed.