Today’s positive trading is bringing both the Dow and the S&P 500 backup above the T-line, creating a slow bottoming action created by a piercing signal and a Morning Star signal over the past week and a half. The NASDAQ remains consistent above the T-line, making a scoop type pattern. Additional positive trading in the NASDAQ would create a breakout/bullish slingshot effect. Continue to stay predominantly long in the bullish candlestick patterns.
September 20th Daily Market Comments
Today’s positive trading is bringing both the Dow and the S&P 500 backup above the T-line, creating a slow bottoming action created by a piercing signal and a Morning Star signal over the past week and a half. The NASDAQ remains consistent above the T-line, making a scoop type pattern. Additional positive trading in the NASDAQ would create a breakout/bullish slingshot effect. Continue to stay predominantly long in the bullish candlestick patterns.