February 24th Daily Market Comments

The indecisive potential reversal signals of yesterday are experiencing weakness today as potentially anticipated.
The nature of today’s selling is indicated by the signal/formation today. Currently the indexes are showing indecisive selling, Doji days. The index that should provide the most valuable information today is the NASDAQ. It gap down below the T-line after yesterday’s left/right bearish combo. The NASDAQ is trading lower but above where it opened, illustrating buying is still present. However, it is currently trading at the T-line. It will be important to see if the NASDAQ and close backup above the T-line.UCTT is still confirming the scoop pattern breakout. AAOI should now be watched for profit-taking sell signals.