Today’s profit-taking has indications of merely profit-taking. Currently the major indexes are trading at or above where they open, revealing that there is still buying occurring in the markets. It will not be unusual to see some backing and filling on a Friday before a three-day weekend. The important factor be to see if there is any indication there has been a major change of investor sentiment. If not, the uptrend in these markets continue to move in a bullish direction.
February 17th Daily Market Comments
Today’s profit-taking has indications of merely profit-taking. Currently the major indexes are trading at or above where they open, revealing that there is still buying occurring in the markets. It will not be unusual to see some backing and filling on a Friday before a three-day weekend. The important factor be to see if there is any indication there has been a major change of investor sentiment. If not, the uptrend in these markets continue to move in a bullish direction.