The NASDAQ continues to be the strongest index with Today’s gap up after yesterday’s close well above the T-line. The other indexes are also showing strength but with indecisive trading after they have opened. The uptrend is now considered back in progress as long as the indexes remain above the T-line but expect some profit-taking after the bullish reversal signal of a week ago. Stay predominantly long but be aware there may be some profit-taking today and tomorrow, going into the long weekend.
February 15th Daily Market Comments
The NASDAQ continues to be the strongest index with Today’s gap up after yesterday’s close well above the T-line. The other indexes are also showing strength but with indecisive trading after they have opened. The uptrend is now considered back in progress as long as the indexes remain above the T-line but expect some profit-taking after the bullish reversal signal of a week ago. Stay predominantly long but be aware there may be some profit-taking today and tomorrow, going into the long weekend.