June 20th Daily Market Comments

The major indexes are showing some profit-taking from Yesterday’s big price move but no change of investor sentiment. The transportation index is selling off hard. This may be a healthy indication that specific sectors are getting hit with profit-taking but the overall market remains in a study uptrend. The profit-taking along the way implies there is no exuberance coming into this market. Stay predominantly long but use the candlestick charts to illustrate which stocks/sectors are acting the strongest. This is why we recommend Trend Analysis.

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