The bullish signals in the Dow and the S&P 500 last week, the MorningStar signal followed by a bullish Doji sandwich up through the T-line makes the 50 day moving average a very high probability target. Expect another day or two of positive trading before the 50 day moving average resistance area has to be addressed. The NASDAQ, after forming a left/right combo on Friday, has shown good bullish confirmation with today’s gap up. Stay long.
October 5th Daily Market Comments
The bullish signals in the Dow and the S&P 500 last week, the MorningStar signal followed by a bullish Doji sandwich up through the T-line makes the 50 day moving average a very high probability target. Expect another day or two of positive trading before the 50 day moving average resistance area has to be addressed. The NASDAQ, after forming a left/right combo on Friday, has shown good bullish confirmation with today’s gap up. Stay long.