Over the past couple of weeks, the market indexes produced J-hook patterns, indicating the T-line was acting as support. But more importantly, the strength of the J-hook pattern moved the market indexes into all-time highs, breaking out through an 18 month resistance level. What if that breakout illustrated a new dynamic in investor sentiment, implying that another strong wave is about to begin.
July 22nd Daily Market Comments
Over the past couple of weeks, the market indexes produced J-hook patterns, indicating the T-line was acting as support. But more importantly, the strength of the J-hook pattern moved the market indexes into all-time highs, breaking out through an 18 month resistance level. What if that breakout illustrated a new dynamic in investor sentiment, implying that another strong wave is about to begin.