Today’s positive trading in the markets is an inference that yesterday’s breakout through the resistance level of the past two months was not a fluke.Wave three has started, clearly illustrated in the Dow which formed a left/right bullish combo, followed by a gap up through the resistance level. 20,000 on the Dow is a nice round number target but is ill relevant as far as the direction/magnitude of investor sentiment. Anticipate wave three to be in progress in the markets. The markets continue their uptrend as illustrated.
January 26th Daily Market Comments
Today’s positive trading in the markets is an inference that yesterday’s breakout through the resistance level of the past two months was not a fluke.Wave three has started, clearly illustrated in the Dow which formed a left/right bullish combo, followed by a gap up through the resistance level. 20,000 on the Dow is a nice round number target but is ill relevant as far as the direction/magnitude of investor sentiment. Anticipate wave three to be in progress in the markets. The markets continue their uptrend as illustrated.