Today’s positive trading in the markets is creating a MorningStar signal in the Dow and the S&P 500. However, the T-line is still a factor. Today’s potential reversal signal requires strength going into the close. Until then, the trend still has to be assumed to be in a downtrend until the candlestick reversal signals are confirmed with closes above the T-line. This is all occurring with stochastics in the oversold condition. Short positions will need to be addressed by the end of the day.
September 30th Daily Market Comments
Today’s positive trading in the markets is creating a MorningStar signal in the Dow and the S&P 500. However, the T-line is still a factor. Today’s potential reversal signal requires strength going into the close. Until then, the trend still has to be assumed to be in a downtrend until the candlestick reversal signals are confirmed with closes above the T-line. This is all occurring with stochastics in the oversold condition. Short positions will need to be addressed by the end of the day.