The uptrend/J-hook pattern continues in the market indexes. Today’s trading currently demonstrates a solid day in the Dow, S&P 50 and the NASDAQ. The most compelling chart today is the transportation index up, up strong and forming a Doji sandwich, illustrating the 200 day and 50 day moving average are not acting as a resistance level. Continue to stay predominantly long but expects some profit-taking with the indexes moving away from the T-line.
July 12th Daily Market Comments
The uptrend/J-hook pattern continues in the market indexes. Today’s trading currently demonstrates a solid day in the Dow, S&P 50 and the NASDAQ. The most compelling chart today is the transportation index up, up strong and forming a Doji sandwich, illustrating the 200 day and 50 day moving average are not acting as a resistance level. Continue to stay predominantly long but expects some profit-taking with the indexes moving away from the T-line.