The T-line continues to act as an important factor in this market. The Dow and the S&P 500 are trading back below the T line, potentially creating an evening star signal if the markets close more than halfway down Thursday’s candle. The NASDAQ has open lower and is currently trading right at the T-line. It needs to close above the T-line to provide any indication the current bullish move/bounce is still in progress. Where the market closes today will be an important factor.
August 31 Daily Market Comments
The T-line continues to act as an important factor in this market. The Dow and the S&P 500 are trading back below the T line, potentially creating an evening star signal if the markets close more than halfway down Thursday’s candle. The NASDAQ has open lower and is currently trading right at the T-line. It needs to close above the T-line to provide any indication the current bullish move/bounce is still in progress. Where the market closes today will be an important factor.