October 24th Daily Market Comments

The characteristics of a market trend are much more easily anticipated when analyzing what each individual daily formation represents. The Dow has been trading indecisively and in a sideways direction for the past two weeks. This was further confirming the wedge formation of the overall markets. Until there is strong evidence, either bullish or bearish, it can be easily evaluated that there is no direction in this current market. This continues to make each individual stock/sector the top priority as far as analyzing where the bullish or bearish pressures appear. Candlestick signals, patterns, and the T-line make for the high probability price movement analysis. The steady Eddie positions continue to move in the correct direction as long as they stay above the T-line.