Today’s positive trading is forming potential MorningStar signals in the NASDAQ and the S&P 500. It is also producing a methods rising formation and the transportation index. The strength in the transportation index would reveal there is no consensus of bearish sentiment in the markets, merely profit-taking/consolidation. Numerous bearish charts have produced bullish confirmation signals. Continue to use the T-line as your ultimate trend indicator. The fry pan bottom patterns are still producing good profit trades, i.e. MP.
February 19th Daily Market Comments
Today’s positive trading is forming potential MorningStar signals in the NASDAQ and the S&P 500. It is also producing a methods rising formation and the transportation index. The strength in the transportation index would reveal there is no consensus of bearish sentiment in the markets, merely profit-taking/consolidation. Numerous bearish charts have produced bullish confirmation signals. Continue to use the T-line as your ultimate trend indicator. The fry pan bottom patterns are still producing good profit trades, i.e. MP.