Whipsaw! But the bottom line remains that the indexes continue to trade above the T-line. Anticipate the 50 day moving average as the next target for the Dow. The NASDAQ continues to trade above the T-line, the 50 day moving average, and the 200 day moving average. The biotech’s were showing strong chart set ups and immediately traded higher even though the Dow opened down 500 points. Keep in mind, if one index is trading positive and another index is trading lower, investor sentiment has not changed. The existing trend remains in progress.
April 20th Daily Market Direction
Whipsaw! But the bottom line remains that the indexes continue to trade above the T-line. Anticipate the 50 day moving average as the next target for the Dow. The NASDAQ continues to trade above the T-line, the 50 day moving average, and the 200 day moving average. The biotech’s were showing strong chart set ups and immediately traded higher even though the Dow opened down 500 points. Keep in mind, if one index is trading positive and another index is trading lower, investor sentiment has not changed. The existing trend remains in progress.