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.