The consolidation in the Dow is not unexpected, profit-taking. The NASDAQ, S&P 500, and the transportation index continue to demonstrate steady strength. The positive signals from last week should carry through as long as the indexes now remain above not only the T line, but the 50 day moving average. Pattern breakouts are working nicely.
October 18 Daily Market Comments
The consolidation in the Dow is not unexpected, profit-taking. The NASDAQ, S&P 500, and the transportation index continue to demonstrate steady strength. The positive signals from last week should carry through as long as the indexes now remain above not only the T line, but the 50 day moving average. Pattern breakouts are working nicely.