Be careful! Yesterday the indexes formed a bearish left/right combo’s and closed below the T-line. This is a very strong sell signal. Although Today’s trading is positive, keep in mind, a downtrend will usually see buying in the morning and then continued selling in the afternoon. The market indexes need to show very strong bullish candles Today, closing more than halfway up yesterday’s bearish candle, to offset the strong left/right combo bearish signal.
May 2nd Daily Market Comments
Be careful! Yesterday the indexes formed a bearish left/right combo’s and closed below the T-line. This is a very strong sell signal. Although Today’s trading is positive, keep in mind, a downtrend will usually see buying in the morning and then continued selling in the afternoon. The market indexes need to show very strong bullish candles Today, closing more than halfway up yesterday’s bearish candle, to offset the strong left/right combo bearish signal.