The indecisive trading in the markets this morning is not unexpected. Wave three is now approximately the same length as wave one of the Dow’s J-hook pattern. The indexes have moved away from the T-line, creating the expectation of some consolidation. The markets could move sideways or pullback until the T-line catches up. Expects some profit-taking in this area.
July 13th Daily Market Comments
The indecisive trading in the markets this morning is not unexpected. Wave three is now approximately the same length as wave one of the Dow’s J-hook pattern. The indexes have moved away from the T-line, creating the expectation of some consolidation. The markets could move sideways or pullback until the T-line catches up. Expects some profit-taking in this area.