The lack of any hard selling today indicates some profit-taking but not any major selling pressure. The Dow, breaking out into new high territory on Friday, coming off a J-hook pattern set up, provides better credence that a new investor sentiment was ready to move the indexes further into high territory. It would not be unusual to see today’s trading as a consolidation day.
July 15th Daily Market Comments
The lack of any hard selling today indicates some profit-taking but not any major selling pressure. The Dow, breaking out into new high territory on Friday, coming off a J-hook pattern set up, provides better credence that a new investor sentiment was ready to move the indexes further into high territory. It would not be unusual to see today’s trading as a consolidation day.