June 9th Daily Market Comments

Morning Member Comments

The NASDAQ gapped down today after yesterday’s Doji day at the same level the NASDAQ topped out in mid April. The NASDAQ is currently trading right at the T-line. It will be extremely important to see where it closes today. A close below the T-line would now indicate a market reversal has occurred, with the pullback possibly coming back down to the lows of May, the bottom of the trend channel. If the markets do not pick up strength going into the close today, start taking profits. Crude oil is trading lower but has not done a reversal signal. Gold continues to trade higher.

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