Today’s bullish trading has to be watched. The indexes, especially the Dow, have bounced back up exactly to the T-line. Be careful of any selling in the markets from this point, indicating the T-line is now acting as resistance. A close near the top end of the trading range today would still reveal a sideways/wedge formation in the markets.
December 4th Daily Market Comments
Today’s bullish trading has to be watched. The indexes, especially the Dow, have bounced back up exactly to the T-line. Be careful of any selling in the markets from this point, indicating the T-line is now acting as resistance. A close near the top end of the trading range today would still reveal a sideways/wedge formation in the markets.