May 28th Daily Market Comments

Although the Dow opened much higher and immediately sold off, it was evident based upon the 10-minute chart that the buying was still in progress. The NASDAQ open slightly lower but immediately started trading higher. There still is not any evidence of very sentiment coming into this trend. Stay long. Numerous patterns are working extremely well. TGI frypan bottom breakout going into earnings provided good evidence that people in the know were expecting good earnings results.NBR fry pan bottom producing an uptrend with the expectation of filling the gap at $52. Utilizing the patterns during an uptrend produces much better profits than holding slow up-trending stock prices during a slow up-trending market.

 

 

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