Yesterday, the Dow was the least decisive index, forming a Doji right on the T-line. Today’s positive trading instigating the Doji rule provides strong indications the T-line is going to act as a support level, the uptrend continues. The S&P 500 is also trading backup above the T-line. The NASDAQ and the transportation index is not showing any bearish indications. Unless there is some severe cause for dramatic selling Today, the assumption has to be that the uptrend of the markets are still in progress.
July 23rd Daily Market Comments
Yesterday, the Dow was the least decisive index, forming a Doji right on the T-line. Today’s positive trading instigating the Doji rule provides strong indications the T-line is going to act as a support level, the uptrend continues. The S&P 500 is also trading backup above the T-line. The NASDAQ and the transportation index is not showing any bearish indications. Unless there is some severe cause for dramatic selling Today, the assumption has to be that the uptrend of the markets are still in progress.