The T-line continues to act as a predominant trend indicator. Yesterday’s trading in the Dow and S&P 500 brought the indexes back to the T-line. A lower open today would have breached the T-line, making a continued pullback very likely. However, as seen, today’s positive trading continues to make the 200 day moving average the viable target. Until there is an actual close below the T-line, the uptrend remains in progress.
October 22nd Daily Market Comments
The T-line continues to act as a predominant trend indicator. Yesterday’s trading in the Dow and S&P 500 brought the indexes back to the T-line. A lower open today would have breached the T-line, making a continued pullback very likely. However, as seen, today’s positive trading continues to make the 200 day moving average the viable target. Until there is an actual close below the T-line, the uptrend remains in progress.