The strength in Today’s trading has broken the Dow out of a little resistance level as well as forming up a J-hook pattern. The same J-hook pattern confirmation is occurring in the NASDAQ and S&P 500 implying more upside. Stay predominantly long but continue to be aware of news items or tweets still having an effect on investor sentiment. But the overall prognosis is that bullish sentiment is still in control of this market especially with the J-hook pattern and the indexes trading above the T-line.
November 1st Daily Market Comments
The strength in Today’s trading has broken the Dow out of a little resistance level as well as forming up a J-hook pattern. The same J-hook pattern confirmation is occurring in the NASDAQ and S&P 500 implying more upside. Stay predominantly long but continue to be aware of news items or tweets still having an effect on investor sentiment. But the overall prognosis is that bullish sentiment is still in control of this market especially with the J-hook pattern and the indexes trading above the T-line.