The T-line continues to act as a relevant support factor in all the major indexes, except for the transportation index. The potential J-hook pattern forming in the indexes is also producing numerous J-hook patterns in individual stock charts. As long as the indexes appear to be supporting at the T line area, assume there is no dramatic selling pressure in this market.
February 7th Daily Market Comments
The T-line continues to act as a relevant support factor in all the major indexes, except for the transportation index. The potential J-hook pattern forming in the indexes is also producing numerous J-hook patterns in individual stock charts. As long as the indexes appear to be supporting at the T line area, assume there is no dramatic selling pressure in this market.