Today’s backing and filling does not show any dramatic change of investor sentiment, merely profit-taking. The NASDAQ is pulled back and just touched the 3T line. The Dow almost hit the 3T line before starting to move up off the lows. Expects some profit-taking but unless there is an actual candlestick sell signal, the uptrend is still in progress.
February 16th Daily Market Comments
Today’s backing and filling does not show any dramatic change of investor sentiment, merely profit-taking. The NASDAQ is pulled back and just touched the 3T line. The Dow almost hit the 3T line before starting to move up off the lows. Expects some profit-taking but unless there is an actual candlestick sell signal, the uptrend is still in progress.