The hammer signals that formed in the Dow and the S&P 500 are showing bullish confirmation today, providing more evidence the 50 day moving average continues to act as a support level. The NASDAQ formed a belt holds signal yesterday and is confirming with a gap up in price today. A positive close in the indexes today would be bullish confirmation, the support levels are continuing to act as support.
May 20th Daily Market Comments
The hammer signals that formed in the Dow and the S&P 500 are showing bullish confirmation today, providing more evidence the 50 day moving average continues to act as a support level. The NASDAQ formed a belt holds signal yesterday and is confirming with a gap up in price today. A positive close in the indexes today would be bullish confirmation, the support levels are continuing to act as support.