Yesterday, the NASDAQ was kind of the laggard of the indexes. Today the gap up in the NASDAQ has formed a Trend Kicker Signal, above the T-line, implying much more upside. The Dow and the S&P 500 continue to trade toward the top end of the trading channel. The transportation index continues to trade in an upward direction, confirming the J-hook pattern. There is no indication currently of any major change of investor sentiment, the slow uptrending market remains in progress. This still makes identifying specific stocks/sectors that are performing the best.
August 21st Daily Market Comments
Yesterday, the NASDAQ was kind of the laggard of the indexes. Today the gap up in the NASDAQ has formed a Trend Kicker Signal, above the T-line, implying much more upside. The Dow and the S&P 500 continue to trade toward the top end of the trading channel. The transportation index continues to trade in an upward direction, confirming the J-hook pattern. There is no indication currently of any major change of investor sentiment, the slow uptrending market remains in progress. This still makes identifying specific stocks/sectors that are performing the best.