February 3rd Daily Market Comments

The appearance of indecisive trading in the indexes over the past few days provided important information. Support levels/trend channels had not been breached. The T-line was still fairly close to the trading range. Today’s positive trading has brought the Dow, S&P 500, and the NASDAQ back up above the T-line area with significant strength. As long as the market indexes do not demonstrate a severe selling reversal today, the slow uptrend is still the main trend assessment. Continue to utilize the candlestick charts to indicate which sectors remain the strongest.

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