Today’s selling is the expected profit-taking after yesterday’s big day. The important level is now the upper resistance level of the trend channel in the indexes. A breakout through that level would put the markets in wave three, a strong uptrend. But until that occurs, the sideways trend channel is still the predominant analysis.
December 30th Daily Market Comments
Today’s selling is the expected profit-taking after yesterday’s big day. The important level is now the upper resistance level of the trend channel in the indexes. A breakout through that level would put the markets in wave three, a strong uptrend. But until that occurs, the sideways trend channel is still the predominant analysis.