After two weeks of indecisive trading in the markets, it was looking for a direction. The past couple days of trading indicated a slow curve set up to the upside. One consistent factor that remained in the uptrend was the fact that the indexes could not close below the T-line. Friday’s bullish action in the markets indicate the direction this market should move after two weeks of Doji type trading days. A strong uptrend should be in progress provided Friday’s trading maintains its strength going into the close.
Thursday’s buying continues to illustrate the lack of a decisive move in the markets. The slow uptrend still has the support of the T-line. The prognosis remains the same, continue to stay long as long as there is not a close below the T-line in the indexes but remain nimble.