The Dow is forming a bullish Harami off the 50 day moving average. The S&P 500 is doing a kicker type signal and trying to climb back up above the T-line. The positive open in the NASDAQ after yesterday’s Doji right on the T-line has gapped up through the downtrending resistance level. If the markets remain positive going into the close today, each index will have shown support at viable technical levels, making the prospects of a further uptrend much more compelling. Stay predominantly long, many J-hook patterns are working well.
May 30th Daily Market Comments
The Dow is forming a bullish Harami off the 50 day moving average. The S&P 500 is doing a kicker type signal and trying to climb back up above the T-line. The positive open in the NASDAQ after yesterday’s Doji right on the T-line has gapped up through the downtrending resistance level. If the markets remain positive going into the close today, each index will have shown support at viable technical levels, making the prospects of a further uptrend much more compelling. Stay predominantly long, many J-hook patterns are working well.