Today’s selling remains in the characteristic of this uptrend, some selling in the morning with expected buying later in the day. This can be better confirmed by using the 10 min. chart on the Dow and the NASDAQ. The T-line becomes the important criteria on the 10 min. chart. Continue to stay predominately long until there is a definite reversal signal in the markets. However, the J-hook pattern produces the probabilities that the uptrend remains in progress, especially if the indexes do not close back below the T-line.
March 15th Daily Market Comments
Today’s selling remains in the characteristic of this uptrend, some selling in the morning with expected buying later in the day. This can be better confirmed by using the 10 min. chart on the Dow and the NASDAQ. The T-line becomes the important criteria on the 10 min. chart. Continue to stay predominately long until there is a definite reversal signal in the markets. However, the J-hook pattern produces the probabilities that the uptrend remains in progress, especially if the indexes do not close back below the T-line.