February 4th Daily Market Comments

Today’s positive trading is producing a bullish McMuffin pattern in the Dow, a strong signal implying the uptrend will remain in progress. Numerous fry pan bottom breakouts are producing inordinate profits. The classic pattern, a fry pan bottom pattern followed by a J-hook pattern, are also producing high probability trades. As long as the indexes continue to trade above the T line, take advantage of the pattern breakouts.