Today’s positive trading, although relatively strong in the Dow and S&P 500, are not yet showing any strong decisive candles/signals. However, the NASDAQ gapped up today confirming the buy signals that were developing at the T-line/50 day moving average last week. Today’s gap up is providing the prospects of a scoop pattern. This gives a little bit more credibility to the positive trading in the other indexes. But note that the indexes are still trading in the sideways channel. The indecisive nature of the market continues to make trading difficult but there are patterns that are producing good profits.
October 24th Daily Market Comments
Today’s positive trading, although relatively strong in the Dow and S&P 500, are not yet showing any strong decisive candles/signals. However, the NASDAQ gapped up today confirming the buy signals that were developing at the T-line/50 day moving average last week. Today’s gap up is providing the prospects of a scoop pattern. This gives a little bit more credibility to the positive trading in the other indexes. But note that the indexes are still trading in the sideways channel. The indecisive nature of the market continues to make trading difficult but there are patterns that are producing good profits.