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July 9, 2017

Posted by Tom in Thoughts.
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July 7, 2017 – I’m late posting this because I’m away from my home office and busy with a few things.  This will be a short post because I don’t like typing on a small keyboard, but really, not much has changed.

I’ve gone back to an older posting app so that readers can double click on graphics to enlarge them to view them in more detail; the new version didn’t allow that.

Looking at the NASDAQ Composite chart below we see general weakness.

Volume Flow is anemic, Money Flow is slowly dropping and Market Sentiment is Neutral.  The 6097 support level is holding for now and there is generally more selling pressure than buying pressure.  It appears that investors are waiting for the second quarter earnings reports to show them the way higher or lower.  There just doesn’t seem to be any good reason to buy or sell, so the markets go sideways in a trading range/

There also doesn’t appear to be very many strong stock candidates to consider buying right now either.  I have a small hedge on to provide some downside protection, but as long as this level holds on a closing basis, I won’t add to the hedge or do much selling.

That’s it for now.  Have a good week.     …………….  Tom  ……………….

t

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