Today’s positive trading is creating J-hook patterns in the indexes. The lower CPI numbers provides the prospects of the feds not raising interest rates with any aggressiveness. Continue to maintain bullish positions trading above the T line.

Profit-taking, as expected after moving up rapidly through the 50 day moving average on the Dow. Gold stocks continue their uptrend while the artificial intelligence stocks are backing and filling today.

Bullish sentiment process. The Dow is pushing toward the upper resistance level at approximately the 34,000 area. The NASDAQ, although trading lower is trading above where it opened, demonstrating the bulls are still participating in that sector. Numerous breakout patterns are performing well. Stay predominately long.

Be careful. There is not a lot of bullish strength being revealed in the Dow, even though it is trading positive. The NASDAQ is trading lower and the S&P 500 is showing indecisive trading at the down trending channel. Any bullish positions should be showing good compelling uptrends. Be prepared to add to short positions or maintain cash positions.

Today’s positive trading makes the market indexes still in a indecisive trading mode. The NASDAQ remains in a slight uptrend but with indecisive/Doji trading days. Remain cautious, any bullish positioning should have strong compelling charts. Otherwise, be more attentive for the downtrending motion of the Dow and S&P 500.

Obviously the markets are not going to have any great movement prior to the Fed meeting. The artificial intelligence sector is getting attention, NVDA. Gold stocks are not showing any decisive selling on the current little pullback. Watch for the a knee-jerk reaction once interest rate changes are announced’

The positive trading in the Dow confirmed a stick sandwich signal and is trading back up above the T line. The NASDAQ is gapped up indicating the T line/support level continues to provide bullish indications. Numerous short positions should have been closed on positive trading today.

The T line has shown resistance further the Dow, it is acting as support on the S&P 500 and the NASDAQ is trading well above the breakout level of the downtrending trend channel. This is putting the markets in a transition mode. Be very select as far as bullish and bearish candlestick pattern set ups.

The T-line continues to act as the ultimate indicator. And today’s gap down in the indexes below yesterday’s open demonstrates a very strong downward trend confirmation. The downtrend may be due to bank crisis or interest rates concerns, but there may still be a more ominous factor. The markets seem to know when something negative may be ready to occur in worldwide events. Stay short.

Today’s positive trading appears to be relief that bank failures might not be spreading concern. However, there is not a reversal of the downtrend. It will be important to see how the markets close today.CVNA can be shorted if it trades back down through today’s open. W can be shorted if it trades down through today’s open.