The markets continue to use the T-line as a support level. The past three days have demonstrated consolidation, forming indecisive candlestick signals on the pullback. This illustrates the lack of decisive selling and until the indexes and close below the T-line, assume the uptrend is still in progress. The profit-taking during the uptrend makes the uptrend more solid, there is no exuberance Incorporated in this trend.
November 6 Daily Market Comments
The markets continue to use the T-line as a support level. The past three days have demonstrated consolidation, forming indecisive candlestick signals on the pullback. This illustrates the lack of decisive selling and until the indexes and close below the T-line, assume the uptrend is still in progress. The profit-taking during the uptrend makes the uptrend more solid, there is no exuberance Incorporated in this trend.