Although the market indexes are trading higher Today, they are currently trading below where they opened. This indicates the bullish trading Today may not be as vibrant as expected. Be careful of any bullish purchases Today. For the markets to show any real strength, Today’s trading needs to close near the high end of the trading range. A close below Today’s open, although positive, will not show any major trend movements. The T-line remains an important trend indicator. Flat trading from this area still allow for strong candlestick signals and patterns to perform.
January 23 Daily Market Comments
Although the market indexes are trading higher Today, they are currently trading below where they opened. This indicates the bullish trading Today may not be as vibrant as expected. Be careful of any bullish purchases Today. For the markets to show any real strength, Today’s trading needs to close near the high end of the trading range. A close below Today’s open, although positive, will not show any major trend movements. The T-line remains an important trend indicator. Flat trading from this area still allow for strong candlestick signals and patterns to perform.