Yesterday’s positive trading in the indexes provided the prospects of any downtrend being a slow moving downtrend. The NASDAQ actually closed above the T line. However, the Dow and S&P 500 did not close back up above the T-line. Today’s lower open in the indexes affirmed the market trend, the assumption being that as long as the indexes were trading below the T-line, the prospects of the downtrend was likely. With the NASDAQ closing above the T-line and the Dow and S&P 500 closing below the T-line, the market trend was going to be indicated by the premarket futures are showing which direction the markets were likely to trade.
June 26th Daily Market Comments
Yesterday’s positive trading in the indexes provided the prospects of any downtrend being a slow moving downtrend. The NASDAQ actually closed above the T line. However, the Dow and S&P 500 did not close back up above the T-line. Today’s lower open in the indexes affirmed the market trend, the assumption being that as long as the indexes were trading below the T-line, the prospects of the downtrend was likely. With the NASDAQ closing above the T-line and the Dow and S&P 500 closing below the T-line, the market trend was going to be indicated by the premarket futures are showing which direction the markets were likely to trade.