If the markets open positive in a downtrend, does that mean a reversal is occurring? Watch the 10 minute chart. That will indicate whether there is continued buying after the open. The fact that the indexes continue to trade below the T line should be the first mental input as far as evaluating whether a positive open is merely a bounce or if the bulls are actually returning.
May 20th Daily Market Comments
If the markets open positive in a downtrend, does that mean a reversal is occurring? Watch the 10 minute chart. That will indicate whether there is continued buying after the open. The fact that the indexes continue to trade below the T line should be the first mental input as far as evaluating whether a positive open is merely a bounce or if the bulls are actually returning.