The indexes produced indecisive trading, Doji’s, at the T-line area over the past couple of days. This provided the alert/suspicion that the Bulls were running out of steam after the bounce. Todays selling confirms the obvious failure of the T-line. If the markets close near the lower end of their trading range today, this is setting up a bearish J-hook pattern, meaning wave three to the downside will be in progress.
September 1 Daily Market Comments
The indexes produced indecisive trading, Doji’s, at the T-line area over the past couple of days. This provided the alert/suspicion that the Bulls were running out of steam after the bounce. Todays selling confirms the obvious failure of the T-line. If the markets close near the lower end of their trading range today, this is setting up a bearish J-hook pattern, meaning wave three to the downside will be in progress.