The expected consolidation today is in progress after the big bullish day yesterday. However, today’s lower trading is still making the T-line an important factor. The Dow is currently trading slightly back below the T-line, the S&P 500 is currently trading right on the T-line while the NASDAQ is significantly above the T-line. This puts the market direction still in an indecisive mode. Both long and short positions continue to act well in this market. The regional airline stocks are working extremely well.
November 17th Daily Market Comments
The expected consolidation today is in progress after the big bullish day yesterday. However, today’s lower trading is still making the T-line an important factor. The Dow is currently trading slightly back below the T-line, the S&P 500 is currently trading right on the T-line while the NASDAQ is significantly above the T-line. This puts the market direction still in an indecisive mode. Both long and short positions continue to act well in this market. The regional airline stocks are working extremely well.