November 5th Daily Market Comments

The market indexes are appearing to be in a consolidation stage today, allowing the T-line to catch up. Market consolidation is further implied with the transportation index trading very bullish today. The overall trend remains bullish without any evidence of a candlestick reversal signal as well as the indexes continuing to trade above the T-line. These market conditions warrant scanning for the strongest bullish chart setups, i.e. best friend signals, frypan bottom breakout’s.