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.
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.