Yesterday, the market indexes did bearish left/right combos in the overbought area producing Today’s expected profit-taking/selling. Now the T-line becomes an important factor. The indexes need to use the T-line as support or continue to trade above the T-line. Be prepared to close out long positions that are showing weakness if the T line does not confirm as a support level. The electric vehicle and lithium mining stocks continue to show good strength. Maintaining long positions requires very strong/compelling bullish charts, staying above the T line.
November 19th Daily Market Comments
Yesterday, the market indexes did bearish left/right combos in the overbought area producing Today’s expected profit-taking/selling. Now the T-line becomes an important factor. The indexes need to use the T-line as support or continue to trade above the T-line. Be prepared to close out long positions that are showing weakness if the T line does not confirm as a support level. The electric vehicle and lithium mining stocks continue to show good strength. Maintaining long positions requires very strong/compelling bullish charts, staying above the T line.