The evening star type failure at the T-line in the indexes yesterday provided a strong indication a failure of an uptrend had occurred. The NASDAQ did a bearish left/right combo at the T-line. The selling continues in the Dow and S&P 500 while the NASDAQ is trading lower, but above where it opened. The small NASDAQ/Russell 2000 stocks may be maintaining their uptrends.
May 19th Daily Market Comments
The evening star type failure at the T-line in the indexes yesterday provided a strong indication a failure of an uptrend had occurred. The NASDAQ did a bearish left/right combo at the T-line. The selling continues in the Dow and S&P 500 while the NASDAQ is trading lower, but above where it opened. The small NASDAQ/Russell 2000 stocks may be maintaining their uptrends.