The market indexes are confirming the bullish reversal signals of yesterday by trading up through the T line. This should have induced some profit-taking on short positions. But today’s analysis is that the indexes need to close above the T line to show a definite change of investor sentiment. Long positions are working as well as short positions but anticipate the bias to the long side if the market indexes close above the T line today.
March 3rd Daily Market Comments
The market indexes are confirming the bullish reversal signals of yesterday by trading up through the T line. This should have induced some profit-taking on short positions. But today’s analysis is that the indexes need to close above the T line to show a definite change of investor sentiment. Long positions are working as well as short positions but anticipate the bias to the long side if the market indexes close above the T line today.