What is the most relevant indicator working today? The T-line! Note that numerous stock positions have either pulled back and use the T-line as a support or bearish trending stocks have come up and use the T line and tested it for resistance. MRNA is a prime example of the profit-taking stopping right on the T line. When markets area in sideways choppy conditions, the T line acts as a very good trend indicator to keep from getting whipsawed out of good positions. The market consolidation/sideways mode continues. Although the NASDAQ is trading lower, it is trading above where it opened, indicating the buyers are still around, the Dow is hovering at the T line area, moving sideways. Each individual stock chart remains the prominent analysis.
December 2nd Daily Market Comments
What is the most relevant indicator working today? The T-line! Note that numerous stock positions have either pulled back and use the T-line as a support or bearish trending stocks have come up and use the T line and tested it for resistance. MRNA is a prime example of the profit-taking stopping right on the T line. When markets area in sideways choppy conditions, the T line acts as a very good trend indicator to keep from getting whipsawed out of good positions. The market consolidation/sideways mode continues. Although the NASDAQ is trading lower, it is trading above where it opened, indicating the buyers are still around, the Dow is hovering at the T line area, moving sideways. Each individual stock chart remains the prominent analysis.