The market indexes needed to open lower and trade lower today to confirm the potential candlestick sell signals that formed in Friday’s trading. The positive open indicates the uptrend remains in progress as long as the indexes continue to trade above the T line.The transportation index is in the process of forming a McMuffin pattern. If it closes near the top end of its trading range today, the implication will be for more upside in the markets.
November 2nd Daily Market Comments
The market indexes needed to open lower and trade lower today to confirm the potential candlestick sell signals that formed in Friday’s trading. The positive open indicates the uptrend remains in progress as long as the indexes continue to trade above the T line.The transportation index is in the process of forming a McMuffin pattern. If it closes near the top end of its trading range today, the implication will be for more upside in the markets.