Note the relevancy of the T-line today. Not only acting as a support level but more importantly making the current patterns in the indexes to be more relevant. The S&P 500 and the transportation index are hovering right on the T line. The NASDAQ has use the T-line as a support so far today. The positive trading in the Dow makes the wedge formation more apparent. AAPL and NFLX have used the T-line as a support. Today’s positive trading in the markets do not reveal any major significance, merely keeping price levels in observable patterns and channels. The T-line remains the ultimate trend indicator for maintaining long positions as well as short positions.
March 15th Daily Market Comments
Note the relevancy of the T-line today. Not only acting as a support level but more importantly making the current patterns in the indexes to be more relevant. The S&P 500 and the transportation index are hovering right on the T line. The NASDAQ has use the T-line as a support so far today. The positive trading in the Dow makes the wedge formation more apparent. AAPL and NFLX have used the T-line as a support. Today’s positive trading in the markets do not reveal any major significance, merely keeping price levels in observable patterns and channels. The T-line remains the ultimate trend indicator for maintaining long positions as well as short positions.