Morning Market Update for October 15, 2013

Today's profit-taking is not very compelling. The Dow has come back to the 20 day moving average and supported at that level. The NASDAQ is trading in decisively on a slight pullback I'm doing a Doji. The S&P 500 not showing any great selling pressure. In an uptrend, profits are usually taken in the morning and the buying comes back in the afternoon. Everybody is still waiting to see what decisions are being made in Washington. It is rumored that the Washington Redskins have decided to change their name. They plan to drop the term "Washington" because it is an embarrassment to their name. The uptrend remains in progress as long as the indexes continued to trade above the 8ema. It has to be assumed that Washington will come to a positive decision, not wanting to devastate the economy. The can will be kicked further on down the road, but so that is the expected from our decision-makers in Washington. Have a great trading day.

Morning Market Update for October 03, 2013

The nature of the market conditions remain the same, the Dow continues to sell off while the S&P 500 appears to be supporting at the 50 day moving average, is also resisting at the 8ema. This currently makes the market action still in a sideways mode. The NASDAQ is still above the 8ema although its trajectory is relatively flat. The prognosis remains the same, stay in strong long positions, the short in good weak patterns. These market conditions clearly illustrate that prices moved based upon investor sentiment. Currently it can be assumed that investor sentiment has no strong bullish outlook for the market in general. This is why analyzing specific stocks and sectors becomes very important. Have a great trading day.

Afternoon Market Update for October 01, 2013

Obviously a government shutdown is not worrying investors. Another day of indecisive trading in the Dow and the S&P 500 but further confirmation the sectors in the NASDAQ are still getting strong buyers. Continue to stay long and continue to stay short in the appropriate sectors. Currently, there is no major change in investor sentiment. The sideways motion of this market persists. As long as the markets remain relatively indecisive, other than the NASDAQ, stay with strong long in strong short positions. Have a great trading day.