Today’s positive trading is confirming the NASDAQ breakout through a resistance level with a Doji sandwich last Friday. The Dow and the S&P 500 both gapped up through a resistance level after Friday’s trading illustrated support at the T-line. The upper resistance level of the uptrending channel continues to be the potential target. The uptrend remains viable as long as there is doubtful rhetoric being espoused by the “experts” on the financial news stations. Continue to stay predominantly long. Currently there is no signs of bearish sentiment in the markets.
August 27th Daily Market Comments
Today’s positive trading is confirming the NASDAQ breakout through a resistance level with a Doji sandwich last Friday. The Dow and the S&P 500 both gapped up through a resistance level after Friday’s trading illustrated support at the T-line. The upper resistance level of the uptrending channel continues to be the potential target. The uptrend remains viable as long as there is doubtful rhetoric being espoused by the “experts” on the financial news stations. Continue to stay predominantly long. Currently there is no signs of bearish sentiment in the markets.