The T-line continues to act as a very important trend indicator. Yesterday the indexes traded well below the T-line but all close backup above the T-line. The Dow has already used the T-line as support today and now is trading positive. The current prognosis remains as expecting a relatively flat/very slow uptrending market until there is a breakout of the current trending channel. Stay predominantly long but continue to have a few short positions in the portfolio. The longer investor sentiment continues to move in a positive direction, the more the confidence will start feeding upon itself.
June 1st Daily Market Comments
The T-line continues to act as a very important trend indicator. Yesterday the indexes traded well below the T-line but all close backup above the T-line. The Dow has already used the T-line as support today and now is trading positive. The current prognosis remains as expecting a relatively flat/very slow uptrending market until there is a breakout of the current trending channel. Stay predominantly long but continue to have a few short positions in the portfolio. The longer investor sentiment continues to move in a positive direction, the more the confidence will start feeding upon itself.