The T-line continues to act as a strong support for the market indexes. The NASDAQ is showing the most strength as it is moving into new high territory. Strong candlestick signals are still showing where the high probability trades set ups are occurring. AMZN did a best friend signal yesterday with the trading moving up through the top of the wedge formation, a pattern breakout using the information provided by candlestick signals. Stay predominantly long with the anticipation of the indexes breaking into new high territory, a J-hook pattern indicating much more upside.
January 6th Daily Market Comments
The T-line continues to act as a strong support for the market indexes. The NASDAQ is showing the most strength as it is moving into new high territory. Strong candlestick signals are still showing where the high probability trades set ups are occurring. AMZN did a best friend signal yesterday with the trading moving up through the top of the wedge formation, a pattern breakout using the information provided by candlestick signals. Stay predominantly long with the anticipation of the indexes breaking into new high territory, a J-hook pattern indicating much more upside.