The NASDAQ is showing the most Bullish confirmation today. Note how it gapped up through the J-hook pattern resistance level. The breakout into new territory confirms a J-hook pattern has a high probability of continuing the uptrend. The gap up into new territory adds additional credibility to the J-hook Pattern. A close near the high end of the trading range Today would be a good indication that wave three of the J-hook pattern is in progress.
May 9th Daily Market Comments
The NASDAQ is showing the most Bullish confirmation today. Note how it gapped up through the J-hook pattern resistance level. The breakout into new territory confirms a J-hook pattern has a high probability of continuing the uptrend. The gap up into new territory adds additional credibility to the J-hook Pattern. A close near the high end of the trading range Today would be a good indication that wave three of the J-hook pattern is in progress.