Today’s backing and filling does not illustrate any change of investor sentiment. The Dow had been trading positive while the NASDAQ was trading lower, indicating there was no major change of the current trend. Currently, the Dow and the S&P 500 are trading slightly lower but with the Doji formations, indicating the lack of decisive selling. As long as the indexes continue to trade above the T-line, the uptrend has to be assumed to be in progress.
October 20th Daily Market Comments
Today’s backing and filling does not illustrate any change of investor sentiment. The Dow had been trading positive while the NASDAQ was trading lower, indicating there was no major change of the current trend. Currently, the Dow and the S&P 500 are trading slightly lower but with the Doji formations, indicating the lack of decisive selling. As long as the indexes continue to trade above the T-line, the uptrend has to be assumed to be in progress.