As somewhat anticipated, the markets are continuing to consolidate back to the support levels of the 50 day moving average and the T-line. The uptrend remains in progress as long as the indexes stay above the T-line. These are type of days where the uptrend remains in progress but profit-taking is occurring, making the analysis of each individual stock chart more important. Continue to stay predominantly long.
April 20th Daily Market Comments
As somewhat anticipated, the markets are continuing to consolidate back to the support levels of the 50 day moving average and the T-line. The uptrend remains in progress as long as the indexes stay above the T-line. These are type of days where the uptrend remains in progress but profit-taking is occurring, making the analysis of each individual stock chart more important. Continue to stay predominantly long.