September 30th Daily Market Comments

Today’s positive trading in the markets is creating a MorningStar signal in the Dow and the S&P 500. However, the T-line is still a factor. Today’s potential reversal signal requires strength going into the close. Until then, the trend still has to be assumed to be in a downtrend until the candlestick reversal signals are confirmed with closes above the T-line. This is all occurring with stochastics in the oversold condition. Short positions will need to be addressed by the end of the day.