Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET STRATEGY – AUGUST 30, 2015

WALL STREET CRAPS STOCK MARKET STRATEGY – AUGUST 30, 2015

August 30th, 2015

craps front coverSTOCK MARKET STRATEGY FOR AUGUST 30, 2015: The stock market has established a panic intraday low which will most likely not be violated in the intermediate term. However, a retest of the lows may produce a new closing low for the DJIA. Such a move would create the ideal environment to establish new positions for a run towards new all-time highs. But first, we need to work off the present rally, chew up time, and start the decline down below Tuesday’s closing low.

Key underlying short-term market indicators show the following:

***********

THE BOTTOM LINE: The internal indicators show that there is still more room to the upside. But overall, the set-up is not ideal for taking on new long positions (or short positions for that manner). This is one of those times where the majority of investors and traders should step aside and let things settle down to more reasonable/tolerable daily swings.

Be Sociable, Share!
Comments are closed.