November 28th Daily Market Comments

Today’s positive trading in the markets have brought all the indexes backup above the T-line after an indecisive basing period over the past five or six days of trading. However, volume remains relatively low on numerous stocks. The J-hook pattern appears to be a predominant price pattern that is working well in these market conditions. Any open positions require very convincing candlestick signals/patterns until the market provides strong confirmation of direction. This would require confirmed trading above the T-line in the market indexes.