Today the market indexes are consolidating, the Dow and S&P 500 stalling at the 50 day moving average. The NASDAQ and the transportation index, although selling off a little bit, are still well above the T-line. Expect some profit-taking/consolidation today and probably some waiting to see how tonight’s debate goes. Continue to stay long in bullish charts. Numerous fry pan bottom patterns have now evolved into J-hook patterns, creating the classic pattern.
September 29th Daily Market Comments
Today the market indexes are consolidating, the Dow and S&P 500 stalling at the 50 day moving average. The NASDAQ and the transportation index, although selling off a little bit, are still well above the T-line. Expect some profit-taking/consolidation today and probably some waiting to see how tonight’s debate goes. Continue to stay long in bullish charts. Numerous fry pan bottom patterns have now evolved into J-hook patterns, creating the classic pattern.