February 22nd Daily Market Comments

Today’s positive trading confirmed the double Doji pattern that was set up Friday in the Dow and the S&P 500. This makes the 50 day moving average the likely target. The NASDAQ gapped up and is trading positive after Friday’s trading supported at the T-line. Anticipate more upside but watch to see what the indexes do once they reach the 50 day moving average. Crude oil prices are up two dollars today, continuing to demonstrate support in the $30 area. Stay predominately long.

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