Yesterday’s dark cloud that formed in the Dow is confirming with the lower trading Today. If the Dow closes near the lower end of Today’s trading range, expect a pullback to head back down to the T-line. If Today’s trading in the Dow closes near the high end of the trading range, staying above the 3T-line, the slow uptrend is likely to continue going into next week. The NASDAQ trading lower but not with enough strength to bring it down through the T-line. Expect this to be a profit-taking/consolidation day.
May 29th Daily Market Comments
Yesterday’s dark cloud that formed in the Dow is confirming with the lower trading Today. If the Dow closes near the lower end of Today’s trading range, expect a pullback to head back down to the T-line. If Today’s trading in the Dow closes near the high end of the trading range, staying above the 3T-line, the slow uptrend is likely to continue going into next week. The NASDAQ trading lower but not with enough strength to bring it down through the T-line. Expect this to be a profit-taking/consolidation day.