Afternoon Market Update for August 28, 2013

Although today's trading shows a bullish trading day, the Dow and the S&P 500 are not showing a reversal signal. The NASDAQ is actually producing a bullish Harami. The fact that the Dow and the S&P 500 are not true reversal signals, one still needs to be nimble. A possible move up to the 8ema may be met with resistance at that level. Any bullish trades in the portfolio should be watched diligently when the indexes approach the 8ema. The markets are still in a bearish mode until we see closes back up above the 8ema. Have a great trading day,