The strength in the Dow and the transportation index implies the modest selling in the NASDAQ is merely profit-taking. The semi conductors that were acting strong yesterday are demonstrating profit-taking today but not any major change of investor sentiment in those sectors. Assume the Santa Claus rally remains in effect without any evidence of reversal signals in the indexes.
December 28th Daily Market Comments
The strength in the Dow and the transportation index implies the modest selling in the NASDAQ is merely profit-taking. The semi conductors that were acting strong yesterday are demonstrating profit-taking today but not any major change of investor sentiment in those sectors. Assume the Santa Claus rally remains in effect without any evidence of reversal signals in the indexes.