May 26th Daily Market Comments

The Dow is trading down 25 points while the NASDAQ is trading positive three points. This is the obvious consolidation after the strong move the market has made over the past few days. Continue to stay long until you see a candlestick reversal signal. There is the potential of a possible pullback to the T-line/50 day moving average area but with the strength of the candlestick reversal signals of the past week and a half, the probabilities would indicate the uptrend will be continuing. It may have a few days of moving sideways, allowing the T-line to catch up. Stay predominantly long.