February 6th Daily Market Comments

As anticipated, the markets have moved up fast enough to expect profit-taking. Although the indexes are trading positive or flat so far today, they are currently trading below where they opened. Numerous stock prices are also revealing profit-taking. The markets are trading well above the T-line, indicating the uptrend remains in progress but expect some consolidation waiting for the T-line to catch up. Expect some churning over the next few days of trading. Stay long but attentive.