The Dow is showing strong confirmation of a reversal, indicating the T line is now not acting as resistance and it has broken the downtrending channel. All the other indexes are also trading back up above the T line. Anticipate more upside until there is a sell signal. However, remain nimble waiting to see whether the market indexes are producing a bullish bounce in a downtrend or starting a new uptrend.
May 26th Daily Market Comments
The Dow is showing strong confirmation of a reversal, indicating the T line is now not acting as resistance and it has broken the downtrending channel. All the other indexes are also trading back up above the T line. Anticipate more upside until there is a sell signal. However, remain nimble waiting to see whether the market indexes are producing a bullish bounce in a downtrend or starting a new uptrend.