The prognosis remains the same, the downtrend remains in progress until there is a candlestick reversal signal. The breakdown through the uptrend in support level and trading below the T-line puts the Dow chart with good prospects of having another downdraft like we saw four weeks ago after the breakdown from the dumpling top. The NASDAQ continues to trading down with gap downs, demonstrating strong selling pressures. Stay predominantly short, any long positions should be remaining above the T-line.
September 24 Daily Market Comments
The prognosis remains the same, the downtrend remains in progress until there is a candlestick reversal signal. The breakdown through the uptrend in support level and trading below the T-line puts the Dow chart with good prospects of having another downdraft like we saw four weeks ago after the breakdown from the dumpling top. The NASDAQ continues to trading down with gap downs, demonstrating strong selling pressures. Stay predominantly short, any long positions should be remaining above the T-line.