The weakness illustrated in the NASDAQ and S&P 500 over the past couple of trading days still demonstrated an uptrending factor, they could not close below the 3T-line let alone the T-line. Today’s positive trading in those indexes are currently negating any of the indecisiveness over the past few trading days. The Dow continues its steady uptrend. The prognosis remains the same, as long as the indexes continue to trade above the T-line, the uptrend is in progress. Healthy profit-taking along the way solidifies the uptrend by indicating the lack of exuberance in this market.
January 26th Daily Market Comments
The weakness illustrated in the NASDAQ and S&P 500 over the past couple of trading days still demonstrated an uptrending factor, they could not close below the 3T-line let alone the T-line. Today’s positive trading in those indexes are currently negating any of the indecisiveness over the past few trading days. The Dow continues its steady uptrend. The prognosis remains the same, as long as the indexes continue to trade above the T-line, the uptrend is in progress. Healthy profit-taking along the way solidifies the uptrend by indicating the lack of exuberance in this market.