September 17 Daily Market Comments

After breaking out of the wedge formation, the uptrend will remain in progress as long as the markets continue to trade above the T-line. The T-line remains a very important factor. AERI is a perfect example of why you want to stay long in a frypan bottom pattern unless there is a close back below the T-line. The combination of candlestick signals and patterns, and the T-line, produce extremely high probability/high profitability trade setups. The oil sector is showing strong buy signals. Stay predominantly long, any short positions should be compelling at this point.