April 16th Daily Market Comments

Today’s positive trading does not take the markets out of a indecisive nature, the major indexes continuing to trade below the 50 day moving average but above the T-line. The most compelling chart has formed in the transportation index, a bullish Doji sandwich breakout through the 50 day moving average. This adds confirmation to the analysis of the markets are in a slow upward basing mode but not yet with any dramatic bullish force coming back into the market.