The Dow continues to trade above the T-line, actually setting up a slow curve potential breakout to the upside, as long as it remains above the T line. The Dow and the transportation index up, the NASDAQ trying to show support at the 50 day moving average. The continued trading above the T line in the Dow demonstrates the lack of any selling pressure although it has revealed a lot of indecision over the past three weeks. The T line rule remains in effect, the Dow will remain in an uptrend as long as it can’t close below the T line. Note that many of the bullish trading stocks use the T line as support over the past few days when the markets are selling off. Keep safety stops in place.
February 24th Daily Market Comments
The Dow continues to trade above the T-line, actually setting up a slow curve potential breakout to the upside, as long as it remains above the T line. The Dow and the transportation index up, the NASDAQ trying to show support at the 50 day moving average. The continued trading above the T line in the Dow demonstrates the lack of any selling pressure although it has revealed a lot of indecision over the past three weeks. The T line rule remains in effect, the Dow will remain in an uptrend as long as it can’t close below the T line. Note that many of the bullish trading stocks use the T line as support over the past few days when the markets are selling off. Keep safety stops in place.