January 31st Daily Market Comments

The initial selling today in the Dow was not worry some due to the fact that the other indexes all started trading positive from the get-go. Currently the Dow is trying to nudge itself through the 200 day moving average while the other indexes are trading up with decent strength. Today’s positive trading is confirming the consolidation/J-hook type patterns in the market indexes. This indicates the probabilities of more upside with the NASDAQ having the prospects of heading to the 200 day moving average over the next few trading days. Continue to utilize the strong charts during this uptrend.