The Dow is trading near all-time highs, Thursday’s indecisive trading is less indicative of a potential reversal due to the fact the transportation index is still moving up with reasonable strength. Unless there is a dramatic change of investor sentiment, a strong bearish reversal signal, the uptrend remains in progress. This is wave five out of a spreading pattern in the Dow, indicating strong upside potential.
November 6 Daily Market Comments
The Dow is trading near all-time highs, Thursday’s indecisive trading is less indicative of a potential reversal due to the fact the transportation index is still moving up with reasonable strength. Unless there is a dramatic change of investor sentiment, a strong bearish reversal signal, the uptrend remains in progress. This is wave five out of a spreading pattern in the Dow, indicating strong upside potential.