The negative political environment in Washington is being offset by positive earnings. This is creating a lack of direction of the markets. However, the lack of any evidence of selling pressure is allowing bullish and bearish candlestick chart patterns to work very effectively. These market conditions make utilizing the T-line, after either a bullish or bearish reversal signal, very effective. It is not unusual on a day like Today to see a majority of the bullish positions trading bullish and a majority of the bearish positions continuing lower. This is due to merely analyzing what the charts are indicating about investor sentiment.
January 24th Daily Market Comments
The negative political environment in Washington is being offset by positive earnings. This is creating a lack of direction of the markets. However, the lack of any evidence of selling pressure is allowing bullish and bearish candlestick chart patterns to work very effectively. These market conditions make utilizing the T-line, after either a bullish or bearish reversal signal, very effective. It is not unusual on a day like Today to see a majority of the bullish positions trading bullish and a majority of the bearish positions continuing lower. This is due to merely analyzing what the charts are indicating about investor sentiment.