The consistent trading above the T-line of eliminates the concern about individual indexes backing and filling when the other indexes are maintaining a slow, consistent uptrend. Today, the transportation index, after trading lower yesterday, opened in the T-line area and started trading up from that level, revealing the T-line is acting as a support for all the indexes. Continue to stay long until there is a major reversal signal witnessed in the major indexes.
April 16th Daily Market Comments
The consistent trading above the T-line of eliminates the concern about individual indexes backing and filling when the other indexes are maintaining a slow, consistent uptrend. Today, the transportation index, after trading lower yesterday, opened in the T-line area and started trading up from that level, revealing the T-line is acting as a support for all the indexes. Continue to stay long until there is a major reversal signal witnessed in the major indexes.