Douglas Gammons Blog | Talkmarkets | Page 1
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Retired software engineer turned writer/investor and owner of HeadlineCharts. I am not a registered investment advisor. My comments reflect my view of the market, and what I am doing with my accounts. The analysis is not a ... more

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The Market Is Gripped By A Bear
We all know that the market is very oversold and that sentiment is at a gloomy extreme. There isn't any doubt that the market is gripped by a bear. The only doubt is about whether the rallies can be traded or not.
A Significant Shift In Sentiment Was Seen
It feels as though there was a significant shift in sentiment this past week. Before Wednesday's Fed meeting, market participants were fearful but skeptical about what the Fed has said it wants to do with rates. However, by Friday, attitudes shifted.
The August Downtrend Is Still Intact
Last week I thought we might be seeing a new short-term uptrend, but it turned out to be a bad call, so the downtrend that began on Aug. 19 is still intact. However, it didn't surprise too many people to see the market bounce and then reverse lower.
Caution Is Called For In This Short-Term Uptrend
The general market turned higher this week, and we are now in another short-term uptrend. The PMO index has not posted a white candle, so I would consider it to be an unconfirmed uptrend for now, and this means that a little caution is called for.
The Short-Term Market Downtrend Continues
The short-term market downtrend continues. The PMO index turned red early last week, confirming the downtrend signal. Now the PMO is very close to the bottom of its range, which signals that the best time to take partial profits has passed.
A New Short-Term Downtrend May Have Started On Friday
I believe that a new short-term downtrend started on Friday, Aug. 19. Many of the short-term indicators I follow have turned lower, indicating a new short-term downtrend, however there are still some indicators that aren't confirming the downtrend.
Still In A Short-Term Uptrend
The market is still in a short-term uptrend, and nothing seems to be able to knock it off course. Bear markets have deceivingly strong rallies designed to draw us in and take our money.
The Short-Term Uptrend Continues After Upside Acceleration
The short-term uptrend continues, and it saw quite an upside acceleration towards the end of the week. The indexes are near their early June peaks, and we can measure the strength of the market by watching to see if they can rally above this level.
It Is Time To Prepare For The Next Short-Term Downtrend
The short-term uptrend continues, although it felt as though the market was rolling over. I thought that the next downtrend had started, but I see that the market isn't there yet. However, it is time to be preparing for the next short-term downtrend.
The Short-Term Uptrend Continues Despite Rocky Week
The short-term uptrend continues. On Wednesday, it looked like the market was getting started on its next short-term down cycle, but on Friday it showed that it wasn't ready to sell off just yet.
The Short-Term Uptrend Continues, But It Hasn't Been Much Of One
The short-term uptrend continues. Looking at the PMO index, you would think that this cycle has been a push upward for stock prices, but it has actually been a confusing zigzag that has pushed prices sideways. So, it hasn't been much of an uptrend.
The Short-Term Uptrend Appears To Continue Despite Rough Tuesday
The short-term uptrend continues, yet it was a tough week to be a trader. Last week I was optimistic that we had the start of a decent summer rally, but then there was Tuesday. That was a rough day.
Friday's Short-Term Uptrend Could Launch A Summer Rally
A new short-term uptrend started on Friday, June 25, and it looks like it could be setting up a decent summer rally. Now, the charts suggest a nice, bullish setup for trading in the coming week.
Last Week's Short-Term Downtrend Continues
The short-term downtrend continues. It took just two days early this week for the PMO to go from the top of its range to the bottom. Negative emotions took control of the selling this week, and there were a number of people screaming at each other.
A Short-Term Downtrend Started Before Friday's Selloff
A short-term downtrend started on Thursday, June 9, and Friday's selling was severe and was mostly attributed to the hot inflation report. But I suspect that the buyers had dried up by Wednesday, and that the market was ready to sell off regardless.
It Is Time To Look For The Next Downtrend
The short-term uptrend continues. With the PMO at the top of the range, it's time to be looking for signs of the next downtrend. If you like to buy the dips and sell into rallies using the PMO index, then it's the time to be taking partial profits.
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