The T-line becomes a much more relevant factor when trends are not showing a distinctive set of Bullish Candles or Bearish Candles. Slow oscillating Uptrends usually have Bullish days as well as Bearish days. The trend remains more defined as long as the Bearish days do not breach the UptrendingT-line. Although the market indexes are trading lower Today, they are still trading above the T-line. The NASDAQ and S&P 500 are using the 3T-line as support. This provides evidence that the Bulls are still very much in control, the breakout patterns of last week still reveal a wave three to be in progress. Continue to stay predominantly long, using the T-line as your final factor.
July 18th Daily Market Comments
The T-line becomes a much more relevant factor when trends are not showing a distinctive set of Bullish Candles or Bearish Candles. Slow oscillating Uptrends usually have Bullish days as well as Bearish days. The trend remains more defined as long as the Bearish days do not breach the Uptrending T-line. Although the market indexes are trading lower Today, they are still trading above the T-line. The NASDAQ and S&P 500 are using the 3T-line as support. This provides evidence that the Bulls are still very much in control, the breakout patterns of last week still reveal a wave three to be in progress. Continue to stay predominantly long, using the T-line as your final factor.