Market consolidation? The Dow, S&P 500, and the NASDAQ are trading slightly lower, but only slightly. Nothing yet has shown there is any candlestick reversal signal, indicating a change of the current uptrend. But another important factor is illustrated in the transportation index, it is trading up strong Today after showing support on the T-line yesterday. Simple market trend evaluation indicates when one index is continuing to trade strong while other indexes are soggy, this is merely consolidation. Continue to hold long positions as long as they are maintaining above the T-line and have a few short positions in the portfolio.
September 20th Daily Market Comments
Market consolidation? The Dow, S&P 500, and the NASDAQ are trading slightly lower, but only slightly. Nothing yet has shown there is any candlestick reversal signal, indicating a change of the current uptrend. But another important factor is illustrated in the transportation index, it is trading up strong Today after showing support on the T-line yesterday. Simple market trend evaluation indicates when one index is continuing to trade strong while other indexes are soggy, this is merely consolidation. Continue to hold long positions as long as they are maintaining above the T-line and have a few short positions in the portfolio.