March 9th Daily Market Comments

The slow upward trend channel in the Dow and S&P 500 are better confirmed with Today’s positive trading, the S&P 500 gapping up through the 50 day moving average, the Dow gapping up after yesterday’s Doji type day through the T-line. The NASDAQ broke through the downtrending resistance level yesterday after a bullish left/right combo. Today’s positive trading further confirms the J-hook pattern wave three is still in progress. Unless there is some major political/world event investor sentiment continues to create bullish candlestick patterns, indicating a continuation of the uptrend.