The budget vote has continued the Bullish sentiment in this market. The transportation index is showing a very compelling J-hook pattern above the T-line. The market trend analysis remains very simple, as long as the indexes continue to trade above the T-line, the uptrend is still in progress. The warning is still coming from the Dow, gapping up again in the overbought condition. Be defensive, the first signs of a sell signal should induce profit-taking.
October 20th Daily Market Comments
The budget vote has continued the Bullish sentiment in this market. The transportation index is showing a very compelling J-hook pattern above the T-line. The market trend analysis remains very simple, as long as the indexes continue to trade above the T-line, the uptrend is still in progress. The warning is still coming from the Dow, gapping up again in the overbought condition. Be defensive, the first signs of a sell signal should induce profit-taking.