Observation of note, notice that stocks that were in a bullish trend continue the trend. Stocks that were in a bearish trend may have shown buying into yesterday’s rally but have likely opened positive today and then continued selling off. Use the T-line as a trend reversal criteria. The gap up in the Dow today is creating a bullish J-hook pattern, with obvious support at the 50 day moving average/T-line.
December 16th Daily Market Comments
Observation of note, notice that stocks that were in a bullish trend continue the trend. Stocks that were in a bearish trend may have shown buying into yesterday’s rally but have likely opened positive today and then continued selling off. Use the T-line as a trend reversal criteria. The gap up in the Dow today is creating a bullish J-hook pattern, with obvious support at the 50 day moving average/T-line.