Wednesday Update: Graphics


The first chart (Nasdaq) is a broader perspective of trading over the past few weeks, a dominant downtrend with spurts of counter-trend rallies into resistance, which is quickly approaching. The second and third charts are of the newest two intermediate positions in the Standard Service portfolio, both charts providing visual logic as to why those stocks went Long on Tuesday. We are still in a news-driven market which is temporarily back into "everything is bullish" mode, whether it is or not. Finally, now the first chart is giving one message, the second and third charts another. They cannot all be right.