The T-line remains a relevant factor. The indexes, one trading on their lows of the day, appeared to be using the T-line area as support. This is more of an indication of profit-taking versus any full-scale reversal, as long as the indexes remain above the T-line. Currently, many stocks, although trading lower are trading indecisively, as Doji’s. This illustrates the lack of selling pressure, merely profit-taking. Continue to stay with the strong bullish charts.
January 14th Daily Market Comments
The T-line remains a relevant factor. The indexes, one trading on their lows of the day, appeared to be using the T-line area as support. This is more of an indication of profit-taking versus any full-scale reversal, as long as the indexes remain above the T-line. Currently, many stocks, although trading lower are trading indecisively, as Doji’s. This illustrates the lack of selling pressure, merely profit-taking. Continue to stay with the strong bullish charts.