The anticipated consolidation of the market indexes is demonstrating that it is profit-taking/consolidation utilizing a very simple analysis. The Dow and S&P 500 are trading slightly lower while the NASDAQ continues to trade higher. This observation provides the common sense analysis that the markets are not in any stage of reversing, merely profit-taking and/or shifting funds from sector to sector. Big gap up’s through the resistance levels of the past few days of trading still provides strong evidence that excessive bullish sentiment has moved the markets into a new wave. This is why we recommend Gap Analysis.
April 27th Daily Market Comments
The anticipated consolidation of the market indexes is demonstrating that it is profit-taking/consolidation utilizing a very simple analysis. The Dow and S&P 500 are trading slightly lower while the NASDAQ continues to trade higher. This observation provides the common sense analysis that the markets are not in any stage of reversing, merely profit-taking and/or shifting funds from sector to sector. Big gap up’s through the resistance levels of the past few days of trading still provides strong evidence that excessive bullish sentiment has moved the markets into a new wave. This is why we recommend Gap Analysis.