The gap down in the oversold condition in the Dow on Friday provided a high probability prospect of a possible reversal, especially moving excessively away from the T line. Today’s positive trading in the Dow has currently negated the bearish sentiment. The NASDAQ closed right on the T line on Friday, it needed to see positive trading today. It will be important to see the market indexes close near the top end of there trading range today, to dispel some of the indecisiveness of the market trend over the past few days. Use the T line as your ultimate indicator.
June 21st Daily Market Comments
The gap down in the oversold condition in the Dow on Friday provided a high probability prospect of a possible reversal, especially moving excessively away from the T line. Today’s positive trading in the Dow has currently negated the bearish sentiment. The NASDAQ closed right on the T line on Friday, it needed to see positive trading today. It will be important to see the market indexes close near the top end of there trading range today, to dispel some of the indecisiveness of the market trend over the past few days. Use the T line as your ultimate indicator.