Today’s positive trading affirms the lack of strength from the Bears, which would have been a viable prospect with the Dow and S&P 500 closing below the T-line a couple times last week. However, as can be seen in the Dow and S&P 500 candlestick formations, the Doji’s/Hammer Signals illustrated a lack of decisiveness. Today’s positive trading is currently bringing all the indexes backup above the T-line. The NASDAQ, trading in decisively each day last week, could never close below the T-line. The same prognosis remains, the uptrend remains in progress as long as the indexes continue to close above the T-line.
May 15th Daily Market Comments
Today’s positive trading affirms the lack of strength from the Bears, which would have been a viable prospect with the Dow and S&P 500 closing below the T-line a couple times last week. However, as can be seen in the Dow and S&P 500 candlestick formations, the Doji’s/Hammer Signals illustrated a lack of decisiveness. Today’s positive trading is currently bringing all the indexes backup above the T-line. The NASDAQ, trading in decisively each day last week, could never close below the T-line. The same prognosis remains, the uptrend remains in progress as long as the indexes continue to close above the T-line.