November 4th Daily Market Comments

The rhetoric of Washington politics does not seem to deter the bullish sentiment of economics. The bullish candlestick patterns demonstrated in the indexes imply more upside. The J-hook pattern of the NASDAQ and S&P 500 would indicate wave three is currently in progress. The Dow appears to be breaking out through resistance levels. Stay predominantly long using the T-line as the ultimate trend criteria. Any short positions should have very compelling reasons to stay short, i.e. SIX.