February 12th Daily Market Comments

The implication that the T-line was continuing to act as a uptrending support level is obviously further confirmed today. The NASDAQ is potentially forming a Doji sandwich, making the 200 day moving average a viable target. The Dow trading higher indicates the 200 day moving average/T-line area continues to act as a support level. Note that the Dow opened higher, at yesterday’s open and continue to trade higher, making for a small trend kicker signal. The transportation index continues to move higher further confirming the T-line has maintained the uptrend.