Today’s market trading produces the same analysis as the past few days, the indexes remain above the T-line but without any dramatic buying and/or selling pressure. The uptrend in many Bullish stock prices is persistent but with backing and filling/profit-taking as the trends move higher. The T-line still remains a valuable trend indicator in slow upward waffling type moves. Stay predominantly long but having a few short positions in the portfolio is still going to produce profits. The indexes are approaching recent highs, making a breach of those levels a prospective J-hook Pattern Bullish confirmation.
May 24th Daily Market Comments
Today’s market trading produces the same analysis as the past few days, the indexes remain above the T-line but without any dramatic buying and/or selling pressure. The uptrend in many Bullish stock prices is persistent but with backing and filling/profit-taking as the trends move higher. The T-line still remains a valuable trend indicator in slow upward waffling type moves. Stay predominantly long but having a few short positions in the portfolio is still going to produce profits. The indexes are approaching recent highs, making a breach of those levels a prospective J-hook Pattern Bullish confirmation.