Although the indexes are trading positive today, they are currently trading below where they opened. This indicates the lack of any dramatic bullish sentiment, merely a bounce. However, the transportation index is maintaining strength today after the inverted hammer/Harami at the T-line yesterday. Today’s positive trading is bringing that index backup above the T-line. The prognosis remains the same, assume the downtrend in the markets remains in progress until there is a candlestick reversal signal and a close backup above the T-line.
November 14th Daily Market Comments
Although the indexes are trading positive today, they are currently trading below where they opened. This indicates the lack of any dramatic bullish sentiment, merely a bounce. However, the transportation index is maintaining strength today after the inverted hammer/Harami at the T-line yesterday. Today’s positive trading is bringing that index backup above the T-line. The prognosis remains the same, assume the downtrend in the markets remains in progress until there is a candlestick reversal signal and a close backup above the T-line.