The lack of any selling pressure is still evident in the market indexes, especially in the NASDAQ that is continuing to show strength above the 50 day moving average. This is allowing numerous J-hook patterns and frypan bottom patterns to be working very well. Continue to hold long positions and you can be establishing bullish positions in some of the J-hook patterns.
January 17th Daily Market Comments
The lack of any selling pressure is still evident in the market indexes, especially in the NASDAQ that is continuing to show strength above the 50 day moving average. This is allowing numerous J-hook patterns and frypan bottom patterns to be working very well. Continue to hold long positions and you can be establishing bullish positions in some of the J-hook patterns.