- 23
- Aug
This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity
The Dow gained 145.27 points today amidst more M&A news and completed one step in the Staircase Formation. If you do not know what the Staircase formation is, you should read back on my posts in June where the Dow gained steadily on the staircase formation. Short term momentum indicators continue to show bullish momentum gaining as volume gained slowly and steadily too. I see the staircase formation going much further and it will not be strange to see another couple of days of sideways trading before another big up day. That is the staircase formation. Anyone who went long on the market on my dragon tail formation comment on 16 Aug would have made money by today. 
Looks like the market has decided to go up afterall! The Star Trading System also followed up on this with a ton of morning stars today. A few of those morning stars that fully qualified but without qualified options has also performed well. Let’s see if we get any qualifiers today…
Thought For The Day : “Discipline and Patience is the hallmark of every successful trader.”
