The expected consolidation/profit-taking after yesterday’s big up move was relatively quick, indicating the bullish sentiment is still in progress. The strong index is still the NASDAQ, creating a J-hook pattern supporting at the T line. This reveals bullish sentiment in that area is still very solid. The strategy remains the same, remain long in bullish positions that continue to trade above the T line. Keep your safety stops just below the T line.
June 22nd Daily Market Comments
The expected consolidation/profit-taking after yesterday’s big up move was relatively quick, indicating the bullish sentiment is still in progress. The strong index is still the NASDAQ, creating a J-hook pattern supporting at the T line. This reveals bullish sentiment in that area is still very solid. The strategy remains the same, remain long in bullish positions that continue to trade above the T line. Keep your safety stops just below the T line.