Friday was a Near Impulse day for the markets and
with bearish trend change warnings in place they responded with the biggest down
day of the year. So what does Tuesday look like?
Well all stock indexes continue to show bearish
trend change warnings and signals for a lower close. For the NASDAQ 100, I show
45 sell signals verses 14 buy signals and for the DOW 30 it is 13 sells to 4
buys. Now a lot can happen over a three day week end and generally we see some
buying after a strong down day but I will be watching the overnight and opening
bias closely and probably favoring the short side.
Jim White
Pivot Research & Trading
Co.
PivotTrader.com
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