The Dow is showing the strongest bullish chart. It has clearly revealed the T line is acting as a support level and setting up for a J-hook pattern, provided it closes near the high end of the trading range today. If it sells off hard, creating an ShootingStar signal, failing at the highs of last week, it would be indicating a double top. The S&P 500 and the transportation index are supporting above the T line. The NASDAQ continues to show the most weakness.

The lack of decisive direction in the market indexes continue to make having both long and short positions in the portfolio. However, there appears to be more strength in the bearish patterns. Numerous bearish J-hook patterns are being confirmed by the T line. The NASDAQ is showing the greatest bearish indications.

The market indexes continue to show a sideways mode. This continues to make having both long and short positions viable. Note how a number of stocks in a downtrend opened positive, right at the T-line, and then started trading lower. This provides significant information. Short positions working well seem to be more numerous.

The major indexes are now consolidated back to the obvious support level, the T line. The transportation index is not supporting at the T line. Any long positions now require very compelling reasons to stay long. Short positions are working well.

Although the Dow is not trading lower with any great energy, the NASDAQ, the S&P 500, and the transportation index are showing solid selling confirmation. Be ready to take profits in long positions and maybe adding short positions to the portfolio.

The positive open in the markets today revealed the continuation of J-hook patterns and the continuation of the strong bullish signals created last week. The indexes are not only staying above the T line but also the 3T line. Stay predominately long.

The early-morning consolidation in the indexes was offset by strength continuing in the Dow. Expect some profit-taking but there is not any evidence of a change of investor sentiment of this current uptrend. Maintain bullish positions that continue to trade above the T-line.

The expected profit-taking is occurring in the Dow but not with any great magnitude. The NASDAQ, the transportation index, and S&P 500 are continuing yesterday’s bullish move. Add Long’s that are revealing strong buy signals. Numerous kicker signals occurred yesterday.

A whipsaw market! But with one underlying trend factor, the T line. It now becomes important to see how the markets close today. The S&P 500 and the NASDAQ have formed kicker signals up through the T line. The Dow has formed a kicker signal up off the T line. It will be important to see how the indexes close today, indicating investor sentiment.

The bobble breakout is confirming on the Dow. The S&P 500 is trading above the 50 day moving average and the NASDAQ is currently nudging the T line. Is this bullish reaction to the possible Republican sweep? Probably, short positions should probably be covered, long positions with very compelling buy signals can be bought.