Today’s positive trading is making the Dow and S&P 500 nudging the top resistance level. The NASDAQ and the transportation index showing good bullish trading above the T line. The uptrend is in progress, provided the markets do not show a severe candlestick reversal signal. The electric vehicle sector remains very strong. Expect some more upside going into the end of the year, any profit-taking will likely be pushed in the next year.
January 5th Daily Market Comments
Be careful, the effects of yesterday’s selling, taking the indexes back down through the T-line, is still in effect. Although there is currently some positive trading, in the markets, the T-line is still a relevant factor. The indexes need to get back up above the T-line to show the uptrend is still in progress and diminishing a little of the indecisive nature of the markets. Breakouts are still working, today’s recommendation on NCTY after yesterday’s breakout is up 42%. The lithium battery mining and manufacturers are continuing to shows strength. The nature of the market remains the same, very sector specific.