December 15th Daily Market Comments

Today’s strength reveals a high probability of a market reversal after yesterday’s bullish Harami’s/hammer signals in the indexes. Additionally, the reversal signals occurred right at the same level the markets formed a bottom about a month ago. It now becomes important to see what the indexes would do at the T line area. Be prepared to shift the portfolio bias from predominately short to predominately long based upon strength going through the T line. Keep in mind, the T line is an important factor for acting as support and resistance.

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