February 12th Daily Market Comments

The positive open has produced a trend kicker signal in the Dow. This implies more strength in the uptrend and also developing a J-Hook pattern in the Dow. The NASDAQ and S&P 500 also gapping up today confirms the uptrend continuing the trajectory of the market prior to the recent selloff. Currently there is no indication of a change in the bullish sentiment of the markets. The longer the uptrend persists, the greater the prospects of taking profits in specific stock/sectors and rolling over into new sectors. This is made much more clear utilizing the candlestick scanning techniques. Continue to stay predominately long and always keep your safety stops in place.