Today’s positive trading continues to make the T-line a very vital factor in trend analysis. The NASDAQ has tested the 50 Day Moving Average Today before bouncing up while the Dow opened at the T-line Today and moved positive, the S&P 500 Gapped Up and is currently trading right at the T-line, and the transportation index has done a Kicker Signal bouncing off the T-line and continuing a J-hook pattern. Overall, after the hard selling of Yesterday, Today’s positive trading indicates there is no dramatic selling pressure. The market indexes should continue at least in a sideways, if not a slow uptrend manner. Each individual stock chart remains the main criteria for both long and short positions.
June 28th Daily Market Comments
Today’s positive trading continues to make the T-line a very vital factor in trend analysis. The NASDAQ has tested the 50 Day Moving Average Today before bouncing up while the Dow opened at the T-line Today and moved positive, the S&P 500 Gapped Up and is currently trading right at the T-line, and the transportation index has done a Kicker Signal bouncing off the T-line and continuing a J-hook pattern. Overall, after the hard selling of Yesterday, Today’s positive trading indicates there is no dramatic selling pressure. The market indexes should continue at least in a sideways, if not a slow uptrend manner. Each individual stock chart remains the main criteria for both long and short positions.