The T line is obviously not a resistance level for the Dow and the S&P 500 and the NASDAQ. The 50 day moving average becomes the next viable target, which the NASDAQ is already touching. Numerous short positions have been closed out because of bullish reversal signals. The portfolio bias is now to the long side but with watching what the indexes do at the 50 day moving average.
September 9th Daily Market Comments
The T line is obviously not a resistance level for the Dow and the S&P 500 and the NASDAQ. The 50 day moving average becomes the next viable target, which the NASDAQ is already touching. Numerous short positions have been closed out because of bullish reversal signals. The portfolio bias is now to the long side but with watching what the indexes do at the 50 day moving average.