The indexes form potential sell signals on Friday at the upper resistance level. Although the current trading is showing positive Today for the indexes, be on alert. The indexes need to maintain bullish trading going into the close today to illustrate the uptrendis likely to keep nudging the upper resistance level. Because the market indexes are at levels where there is the possibility of profit-taking, continue to analyze each individual stock chart on its own merits. Be prepared to take some profits in positions that have had strong price moves. Look for rotating into other sectors.
January 13th Daily Market Comments
The indexes form potential sell signals on Friday at the upper resistance level. Although the current trading is showing positive Today for the indexes, be on alert. The indexes need to maintain bullish trading going into the close today to illustrate the uptrend is likely to keep nudging the upper resistance level. Because the market indexes are at levels where there is the possibility of profit-taking, continue to analyze each individual stock chart on its own merits. Be prepared to take some profits in positions that have had strong price moves. Look for rotating into other sectors.