Although today’s positive trading doesn’t show any great resiliency, it is showing good bullish candlestick signals both in the S&P 500 and the NASDAQ. The NASDAQ is illustrating a bullish flutter kicker type signal. If the NASDAQ closes above the T-line today, it will be providing more evidence the slow steady uptrend remains in progress with healthy profit-taking occurring along the way. Trading strategy remains the same, stay predominantly long and remain short in positions that are not showing buy reversal signals.
January 4th Daily Market Comments
January 4, 2017