Although the market indexes are trading slightly lower Today, note that they are trading above where they opened. This implies merely profit-taking early in the day with the expectation that the uptrend will continue later in the day. An additional bullish indicator is witnessing a large number of stocks still trading positive. The projection remains the same, look for the indexes to come up and test the top of the wedge channel.
October 16th Daily Market Comments
Although the market indexes are trading slightly lower Today, note that they are trading above where they opened. This implies merely profit-taking early in the day with the expectation that the uptrend will continue later in the day. An additional bullish indicator is witnessing a large number of stocks still trading positive. The projection remains the same, look for the indexes to come up and test the top of the wedge channel.