The markets remain in an uptrend, with today’s positive trading gaining back most of yesterday’s positive trading range before selling off going into the close. The market indexes have the potential of profit-taking while trading in the overbought condition but the signs of selling have not been confirmed. The uptrend remains in progress. Numerous candlestick price patterns are working well, AQXP up 15% yesterday, PGNX setting up the same pattern potential. Continue to stay long, especially in the candlestick patterns that are in the process of breaking out.
December 16th Daily Market Comments
The markets remain in an uptrend, with today’s positive trading gaining back most of yesterday’s positive trading range before selling off going into the close. The market indexes have the potential of profit-taking while trading in the overbought condition but the signs of selling have not been confirmed. The uptrend remains in progress. Numerous candlestick price patterns are working well, AQXP up 15% yesterday, PGNX setting up the same pattern potential. Continue to stay long, especially in the candlestick patterns that are in the process of breaking out.