The knee-jerk selling on the open as disappeared. The NASDAQ is currently trading above the T-line, the other indexes are just nudging the T-line. It will be important to see whether all the indexes can get above the T-line Today to confirm the large hammer type signals that occurred on Friday. Any long positions still require the confirmation of the markets closing above the T-line or at the high end of their trading range Today. The big stocks, AMZN, AAPL NVDA are all trading higher, indicating bullish pressure is still in the markets.
February 14th Daily Market Comments
The knee-jerk selling on the open as disappeared. The NASDAQ is currently trading above the T-line, the other indexes are just nudging the T-line. It will be important to see whether all the indexes can get above the T-line Today to confirm the large hammer type signals that occurred on Friday. Any long positions still require the confirmation of the markets closing above the T-line or at the high end of their trading range Today. The big stocks, AMZN, AAPL NVDA are all trading higher, indicating bullish pressure is still in the markets.