Though this is creating exciting commentary from the financial talking heads, it also is an alert. Where do most people buy? Exuberantly at the top! Currently there are no signs of a bullish letup but Today’s gap up creates a high probability alert for the possibility of a profit-taking reversal. Utilize your 10 minute chart to watch for signs of selling. Especially if the market indexes start coming back down through today’s open. Remember, the Dow has moved up quickly from the 25,000 level to the 26,000 level. Be ready to take profits.
January 16th Daily Market Comments
Though this is creating exciting commentary from the financial talking heads, it also is an alert. Where do most people buy? Exuberantly at the top! Currently there are no signs of a bullish letup but Today’s gap up creates a high probability alert for the possibility of a profit-taking reversal. Utilize your 10 minute chart to watch for signs of selling. Especially if the market indexes start coming back down through today’s open. Remember, the Dow has moved up quickly from the 25,000 level to the 26,000 level. Be ready to take profits.