Thursday, October 26, 2017

No Change On The Day

The real action was yesterday, today wasn't one to write anything home about. There was some gap moves at the open but they didn't change the picture by end-of-day. The best you could probably draw from today was the inside day in the Dow Jones Industrial average; trade a break of today's high/low with a stop on the flip side.


Some could look to do likewise in the S&P; today's doji offers a clear inside day to yesterday's relatively broad red candlestick.


Not much to get the juices flowing in the Nasdaq.


The Russell 2000 is still working to a new 'bull flag'. Nothing to swing it either way just yet.


The Discretionary:Staples relationship has finally reached resistance. If this proves to be a reversal point then it's going to happen next month.


This could turn out to be a slow burn reversal but the market does feel toppish; feeling and reality can be two totally different things so don't let profits slip if you have them to protect.

You've now read my opinion, next read Douglas' blog.

I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for "fallond".

If you are new to spread betting, here is a guide on position size based on eToro's system.


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Dr. Declan Fallon is a blogger who trades for fun on eToro and can be copied for free.
. I invest in my pension fund as a buy-and-hold.
 
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