Although yesterday’s positive trading produced bullish reversal signals, MorningStar signals, in the indexes, the T line was not yet confirmed. Today’s lower trading, especially gapping down and trading below yesterday’s opens in the indexes reveal strong bullish indications. Any bullish trades require strong confirmation. Otherwise close them out and look for short positions.
December 22nd Daily Market Comments
Although yesterday’s positive trading produced bullish reversal signals, MorningStar signals, in the indexes, the T line was not yet confirmed. Today’s lower trading, especially gapping down and trading below yesterday’s opens in the indexes reveal strong bullish indications. Any bullish trades require strong confirmation. Otherwise close them out and look for short positions.