The Dow is nudging the 200 day moving average again. A breakout through that level would imply much more upside in this market. The NASDAQ gapped up and opened at a resistance level and continue to trade higher. Economic indicators continue to show bullish sentiment. Although the coronavirus numbers have escalated, it appears as if investors are looking past those numbers, expecting better economic environments in the near future. Stay long as long as the indexes continue to trade above the T-line.
July 6th Daily Market Comments
The Dow is nudging the 200 day moving average again. A breakout through that level would imply much more upside in this market. The NASDAQ gapped up and opened at a resistance level and continue to trade higher. Economic indicators continue to show bullish sentiment. Although the coronavirus numbers have escalated, it appears as if investors are looking past those numbers, expecting better economic environments in the near future. Stay long as long as the indexes continue to trade above the T-line.