The J-hook patterns were setting up yesterday in the indexes. The most powerful bullish pattern set up was being demonstrated in the NASDAQ where a bobble breakout was in the making. Waking up to very strong premarket futures immediately indicated the J-hook/bobble patterns were going to perform in today’s trading, allowing for immediate buying on the open. As long as the indexes stay up strong today, it has to be assumed that wave three of J-hook patterns are in progress, implying more upside of wave three.
June 18th Daily Market Comments
The J-hook patterns were setting up yesterday in the indexes. The most powerful bullish pattern set up was being demonstrated in the NASDAQ where a bobble breakout was in the making. Waking up to very strong premarket futures immediately indicated the J-hook/bobble patterns were going to perform in today’s trading, allowing for immediate buying on the open. As long as the indexes stay up strong today, it has to be assumed that wave three of J-hook patterns are in progress, implying more upside of wave three.