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.

 

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