April 24th Daily Market Comments

Today’s positive trading has more relevancy to the bullish analysis than merely the strong trading of Today. Today’s gap up in the NASDAQ broke out through an obvious two-month resistance level. The Dow and the S&P 500 gapped up through the down trending resistance level, as well as gapping up through the 50 day moving average. Obviously it will be important to see the strength of the markets maintained going into the close. If it does, the prospects for the next wave to the upside is very strong. Now there is a trend analysis it can be easily identified. Any short positions should be closed out if they are not confirming continued weakness. This is why we recommend Gap Analysis.

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