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Stock Chat – Thursday 07/01/21
The T line rule is making the trend analysis very easy. The T line creates a very high probability factor. As long as the indexes continue to trade above the T line, the uptrend remains in progress. This simple indicator will dramatically improve your trading by keeping your emotions out of your decisions. Currently, the Dow has formed a J-hook pattern off the 50 day moving average. The NASDAQ continues in an uptrend after forming J-hook patterns using the T line as support. There is a very powerful element that can be viewed graphically on a candlestick chart. The candlestick signals and patterns are the graphic depiction of investor sentiment. The T line is a natural support and resistance level of human nature. When you combine these two elements into your visual analysis, you dramatically improve the probabilities of analyzing a price move correctly. Join us in our chat rooms. Each day candlestick investors are finding high probability trades setups.
July 1st Daily Market Comments
The Dow is trading higher but the NASDAQ is trading lower again. There is evidence of a great amount of sector rotation. Numerous stocks that were trading up above the T line are now showing weakness by trading back below the T line. This is a change of overall sentiment. Close out long positions that are not staying above the T line. Short positions are acting better.