September 28th Daily Market Comments

The MorningStar signal that formed in the indexes on Friday are obviously confirming today, with positive trading and bringing the indexes up above the T line. The NASDAQ, which did close above the T-line on Friday, has gapped up today above the 50 day moving average. Provided the indexes maintaining their strength going into the close, today’s confirmation produces very strong probabilities that a new uptrend is in progress. Short positions should be closed if revealing reversal signals in the oversold area. Long positions can be added, especially in those sectors suggested in the weekends YouTube.