Although the Dow is trading up well today, it hasn’t been able to get up through the T-line. The other indexes are not showing any great strength, either trading below where they opened or trading lower on the day. Yesterday’s positive trading in the markets did not create candlestick reversal signals, merely the indication of a bounce in the downtrend. Until there is bullish confirmation, with the indexes closing above the T-line, any long positions in the portfolio require remaining above the T-line.
March 27th Daily Market Comments
Although the Dow is trading up well today, it hasn’t been able to get up through the T-line. The other indexes are not showing any great strength, either trading below where they opened or trading lower on the day. Yesterday’s positive trading in the markets did not create candlestick reversal signals, merely the indication of a bounce in the downtrend. Until there is bullish confirmation, with the indexes closing above the T-line, any long positions in the portfolio require remaining above the T-line.