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.